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

LEASES (Tables)

6 Months Ended

Jun. 30, 2024

The components of lease expense were as follows:

SCHEDULE OF LEASE EXPENSE

Supplemental balance sheet information related to leases is as follows:

	June 30, 2024			December 31, 2023
	($ in thousands)
Operating leases:
Operating lease ROU assets, net	$	3,732		$	4,365

Current operating lease liabilities	$	1,623		$	1,888
Non-current operating lease liabilities		2,101			2,516
Total operating lease liabilities	$	3,724		$	4,404

Operating leases:
ROU assets	$	4,739		$	6,571
Asset lease expense		(1,008	)		(2,152	)
Foreign exchange gain/(loss)		1			(54	)
ROU assets, net	$	3,732		$	4,365
Operating lease right-of-use assets	$	3,732		$	4,365

Weighted average remaining lease term (in years):
Operating leases		4.6			4.5
Weighted average discount rate:
Operating leases		14.0	%		13.3	%
Operating leases, Weighted average discount rate		14.0	%		13.3	%

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

	2024		2023		2024		2023
	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	($ in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	609	$	754	$	1,277	$	1,661

ROU assets obtained in exchange for lease liabilities:
Operating leases, excluding impairments and terminations	$	125	$	433	$	374	$	720

Maturities of lease liabilities are as follows:

Operating leases - Years ending December 31,	($ in thousands)
2024 (six months)	$	1,189
2025		1,413
2026		586
2027		463
2028		396
Thereafter		1,433
Total lease payments		5,480
Less: imputed interest		(1,756	)
Total lease obligations		3,724
Less: current obligations		1,623
Long-term lease obligations	$	2,101