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

LEASES (Tables)

3 Months Ended

Mar. 31, 2024

The components of lease expense were as follows:

SCHEDULE OF LEASE EXPENSE

Supplemental balance sheet information related to leases is as follows:

	March 31, 2024			December 31, 2023
	($ in thousands)
Operating leases:
Operating lease ROU assets, net	$	4,107		$	4,365

Current operating lease liabilities	$	1,775		$	1,888
Non-current operating lease liabilities		2,320			2,516
Total operating lease liabilities	$	4,095		$	4,404

Operating leases:
ROU assets	$	4,614		$	6,571
Asset lease expense		(509	)		(2,152	)
Foreign exchange gain/(loss)		2			(54	)
ROU assets, net	$	4,107		$	4,365
Operating lease right-of-use assets	$	4,107		$	4,365

Weighted average remaining lease term (in years):
Operating leases		4.5			4.5
Weighted average discount rate:
Operating leases		13.7	%		13.3	%
Operating leases, Weighted average discount rate		13.7	%		13.3	%

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

	2024		2023
	Three Months Ended March 31,
	2024		2023
	($ in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	668	$	907

ROU assets obtained in exchange for lease liabilities:
Operating leases, excluding impairments and terminations	$	249	$	287

Maturities of lease liabilities are as follows:

Operating leases - Years ending December 31,	($ in thousands)
2024 (nine months)	$	1,756
2025		1,350
2026		577
2027		453
2028		385
Thereafter		1,429
Total lease payments		5,950
Less: imputed interest		(1,855	)
Total lease obligations		4,095
Less: current obligations		1,775
Long-term lease obligations	$	2,320