CareCloud, Inc. Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

12 Months Ended

Dec. 31, 2020

The components of lease expense were as follows:

Supplemental balance sheet information related to leases was as follows:

	December 31, 2020			December 31, 2019
Operating leases:	($ in thousands)
Operating lease ROU assets, net	$	7,743		$	3,526

Current operating lease liabilities	$	4,729		$	1,689
Non-current operating lease liabilities		6,297			2,041
Total operating lease liabilities	$	11,026		$	3,730

Operating leases:
ROU assets	$	10,648		$	5,468
Asset lease expense		(2,889	)		(1,889	)
Foreign exchange loss		(16	)		(53	)
ROU assets, net	$	7,743		$	3,526

Weighted average remaining lease term (in years):
Operating leases		2.71			2.46
Weighted average discount rate:
Operating leases		6.76	%		7.05	%

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

	Year Ended December 31,
	2020		2019
	($ in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	4,458	$	2,332

ROU assets obtained in exchange for lease liabilities:
Operating leases, net of impairment and terminations	$	7,559	$	1,222

Maturities of lease liabilities are as follows:

Operating leases - Year ending December 31,	($ in thousands)
2021	$	5,308
2022		4,061
2023		1,778
2024		570
2025		309
2026		40
Total lease payments		12,066
Less: imputed interest		(1,040	)
Total lease obligations		11,026
Less: current obligations		(4,729	)
Long-term lease obligations	$	6,297