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

Leases (Tables)

3 Months Ended

Mar. 31, 2021

The components of lease expense were as follows:

Supplemental balance sheet information related to leases was as follows:

	March 31, 2021			December 31, 2020
	($ in thousands)
Operating leases:
Operating lease ROU assets, net	$	7,075		$	7,743

Current operating lease liabilities	$	4,236		$	4,729
Non-current operating lease liabilities		5,220			6,297
Total operating lease liabilities	$	9,456		$	11,026

Operating leases:
ROU assets	$	7,792		$	10,648
Asset lease expense		(728	)		(2,889	)
Foreign exchange gain (loss)		11			(16	)
ROU assets, net	$	7,075		$	7,743

Weighted average remaining lease term (in years):
Operating leases		2.83			2.71
Weighted average discount rate:
Operating leases		6.78	%		6.76	%

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

	Three Months Ended March 31,
	2021		2020
	($ in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	1,396	$	679

ROU assets obtained in exchange for lease liabilities:
Operating leases, net of impairment and terminations	$	211	$	3,617

Maturities of lease liabilities are as follows:

Operating leases - Year ending December 31,	($ in thousands)
2021 (nine months)	$	3,661
2022		3,941
2023		1,790
2024		570
2025		309
2026		42
Total lease payments		10,313
Less: imputed interest		(857	)
Total lease obligations		9,456
Less: current obligations		(4,236	)
Long-term lease obligations	$	5,220