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

LEASES (Tables)

12 Months Ended

Dec. 31, 2023

The components of lease expense were as follows:

SCHEDULE OF LEASE EXPENSE

Supplemental balance sheet information related to leases was as follows:

	December 31, 2023			December 31, 2022
	($ in thousands)
Operating leases:
Operating lease ROU assets, net	$	4,365		$	4,921

Operating lease liabilities (current portion)	$	1,888		$	2,273
Operating lease liabilities		2,516			3,207
Total operating lease liabilities	$	4,404		$	5,480

Operating leases:
ROU assets	$	6,571		$	8,293
Asset lease expense		(2,152	)		(3,286	)
Foreign exchange loss		(54	)		(86	)
ROU assets, net	$	4,365		$	4,921
Operating lease right-of-use assets	$	4,365		$	4,921

Weighted average remaining lease term (in years):
Operating leases		4.5			5.1
Weighted average discount rate:
Operating leases		13.3	%		7.9	%
Operating leases, Weighted average discount rate:		13.3	%		7.9	%

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

	2023		2022
	Year Ended December 31,
	2023		2022
	($ in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	3,244	$	4,743

ROU assets obtained in exchange for lease liabilities:
Operating leases, excluding impairments and terminations	$	1,682	$	1,569

Maturities of lease liabilities are as follows:

Operating leases - Years ending December 31,	($ in thousands)
2024	$	2,304
2025		1,295
2026		538
2027		416
2028		347
Thereafter		1,427
Total lease payments		6,327
Less: imputed interest		(1,923	)
Total lease obligations		4,404
Less: current obligations		(1,888	)
Long-term lease obligations	$	2,516