CareCloud, Inc. Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

6 Months Ended

Jun. 30, 2023

The components of lease expense were as follows:

SCHEDULE OF LEASE EXPENSE

Supplemental balance sheet information related to leases is as follows:

	June 30, 2023			December 31, 2022
	($ in thousands)
Operating leases:
Operating lease ROU assets, net	$	4,427		$	4,921

Current operating lease liabilities	$	1,986		$	2,273
Non-current operating lease liabilities		2,731			3,207
Total operating lease liabilities	$	4,717		$	5,480

Operating leases:
ROU assets	$	5,640		$	8,293
Asset lease expense		(1,153	)		(3,286	)
Foreign exchange loss		(60	)		(86	)
ROU assets, net	$	4,427		$	4,921

Weighted average remaining lease term (in years):
Operating leases		4.3			5.1
Weighted average discount rate:
Operating leases		12.3	%		7.9	%

Supplemental cash flow and other information related to leases is as follows:

	2023		2022		2023		2022
	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	($ in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	754	$	1,158	$	1,661	$	2,370

ROU assets obtained in exchange for lease liabilities:
Operating leases, excluding impairments and terminations	$	433	$	15	$	720	$	442

Maturities of lease liabilities are as follows:

Operating leases - Years ending December 31,	($ in thousands)
2023 (six months)	$	1,423
2024		1,847
2025		1,113
2026		362
2027		228
Thereafter		1,642
Total lease payments		6,615
Less: imputed interest		(1,898	)
Total lease obligations		4,717
Less: current obligations		(1,986	)
Long-term lease obligations	$	2,731