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

LEASES (Tables)

6 Months Ended

Jun. 30, 2021

The components of lease expense were as follows:

SCHEDULE OF LEASE EXPENSE

Supplemental balance sheet information related to leases was as follows:

	June 30, 2021			December 31, 2020
	($ in thousands)
Operating leases:
Operating lease ROU assets, net	$	7,712		$	7,743

Current operating lease liabilities	$	4,098		$	4,729
Non-current operating lease liabilities		5,727			6,297
Total operating lease liabilities	$	9,825		$	11,026

Operating leases:
ROU assets	$	9,163		$	10,648
Asset lease expense		(1,455	)		(2,889	)
Foreign exchange gain (loss)		4			(16	)
ROU assets, net	$	7,712		$	7,743

Weighted average remaining lease term (in years):
Operating leases		4.39			2.71
Weighted average discount rate:
Operating leases		6.79	%		6.76	%

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

	2021		2020		2021		2020
	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	($ in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	1,336	$	764	$	2,732	$	1,443

ROU assets obtained in exchange for lease liabilities:
Operating leases, net of impairment and terminations	$	1,537	$	2,647	$	1,748	$	6,264

Maturities of lease liabilities are as follows:

Operating leases - Year ending December 31,	($ in thousands)
2021 (six months)	$	2,474
2022		4,047
2023		1,931
2024		739
2025		481
Thereafter		1,972
Total lease payments		11,644
Less: imputed interest		(1,819	)
Total lease obligations		9,825
Less: current obligations		(4,098	)
Long-term lease obligations	$	5,727