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

LEASES (Tables)

3 Months Ended

Mar. 31, 2022

The components of lease expense were as follows:

SCHEDULE OF LEASE EXPENSE

Supplemental balance sheet information related to leases is as follows:

	March 31, 2022			December 31, 2021
	($ in thousands)
Operating leases:
Operating lease ROU assets, net	$	6,507		$	6,940

Current operating lease liabilities	$	3,803		$	3,963
Non-current operating lease liabilities		3,929			4,545
Total operating lease liabilities	$	7,732		$	8,508

Operating leases:
ROU assets	$	7,366		$	10,535
Asset lease expense		(832	)		(3,574	)
Foreign exchange loss		(27	)		(21	)
ROU assets, net	$	6,507		$	6,940

Weighted average remaining lease term (in years):
Operating leases		4.54			4.26
Weighted average discount rate:
Operating leases		6.74	%		6.76	%

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

	Three Months Ended March 31,
	2022		2021
	($ in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	1,212	$	1,396

ROU assets obtained in exchange for lease liabilities:
Operating leases, net of impairment and terminations	$	427	$	211

Maturities of lease liabilities are as follows:

Operating leases - Years ending December 31,	($ in thousands)
2022 (nine months)	$	3,359
2023		2,366
2024		1,075
2025		514
2026		232
Thereafter		1,756
Total lease payments		9,302
Less: imputed interest		(1,570	)
Total lease obligations		7,732
Less: current obligations		(3,803	)
Long-term lease obligations	$	3,929