Journey Medical Corporation Annual report [Section 13 and 15(d), not S-K Item 405]

Annual report [Section 13 and 15(d), not S-K Item 405]

OPERATING LEASE OBLIGATIONS

For the Years Ended December 31,

Operating lease cost

Variable lease cost

Total lease cost

OPERATING LEASE OBLIGATIONS

12 Months Ended

Dec. 31, 2024

NOTE 10. OPERATING LEASE OBLIGATIONS

The Company leases 3,801 square feet of office space in Scottsdale, Arizona. In July 2024, the Company amended the lease to extend the lease term for an additional 25 months at an annual rate of approximately $0.1 million. The amended lease commenced on February 1, 2025 and expires on February 28, 2027.

The Company recorded rent expense as follows (dollars in thousands):

The following table summarizes quantitative information about the Company’s operating leases (dollars in thousands):


	For the Years Ended December 31,
	2024			2023
Cash paid for amounts included in the measurement of lease liabilities	$	102		$	92
Weighted-average remaining lease term - operating leases		2.2			1.1
Weighted-average discount rate - operating leases		7.35	%		6.25	%

As of December 31, 2024, future payments of operating lease liabilities are as follows:



For the year ended December 31,	($’s in thousands)
2025	$	94
2026		105
2027		18
Total lease payments		217
Less: present value discount		(16)
Total operating lease liabilities	$	201