v3.25.2
Leases (Tables)
 6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Schedule of Lease Costs
The table below comprises lease expenses for the three and six months ended June 30, 2025 and 2024:
Three Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
Components of total lease cost:
Operating lease expense$1,349,100 $830,029 $2,671,618 $1,766,779 
Finance lease expense:
              Amortization of right-of-use assets1,316,938 1,141,130 2,558,381 2,197,620 
              Interest on lease liabilities250,694 184,944 470,749 366,827 
              Finance lease expense1,567,632 1,326,074 3,029,130 2,564,447 
Short-term lease expense214,582 420,583 582,205 889,457 
Total lease cost$3,131,314 $2,576,686 $6,282,953 $5,220,683 
The table below presents lease payments for the three and six months ended June 30, 2025 and 2024:
Three Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
Components of total lease payments:
Operating lease payment$1,203,839 $849,696 $2,274,370 $1,778,682 
Finance lease payment1,367,624 1,060,201 2,664,511 2,029,789 
Total lease payments$2,571,463 $1,909,897 $4,938,881 $3,808,471 
Schedule of Assets and Liabilities, Lessee
Right-of-use assets and lease liabilities for the Company’s operating leases were recorded in the unaudited Condensed Consolidated Balance Sheets as follows:
June 30,
2025		December 31, 2024
Assets
Lease right-of-use assets$12,611,145 $11,958,698 
Total lease assets$12,611,145 $11,958,698 
Liabilities  
Current liabilities:  
Lease liability - current portion$4,693,813 $3,844,561 
Noncurrent liabilities:  
Lease liability, net of current portion8,769,686 8,599,072 
Total lease liability$13,463,499 $12,443,633 
Lease Terms and Discount Rate
The table below presents certain information related to the weighted average remaining lease term and the weighted average discount rate for the Company’s operating leases as of June 30, 2025:
Weighted average remaining lease term (in years) - operating leases3.42
Weighted average discount rate - operating leases5.90%
Right-of-use assets and lease liabilities for the Company’s finance leases were recorded in the unaudited Condensed Consolidated Balance Sheets as follows:
June 30,
2025		December 31,
2024
Assets
Lease right-of-use assets$17,664,270 $15,337,299 
Total lease assets$17,664,270 $15,337,299 
Liabilities
Current liabilities:
Lease liability - current portion$5,359,548 $4,694,467 
Noncurrent liabilities:
Lease liability, net of current portion11,616,691 10,031,138 
Total lease liability$16,976,239 $14,725,605 
Lease Terms and Discount Rate
The table below presents certain information related to the weighted average remaining lease term and the weighted average discount rate for the Company’s finance leases as of June 30, 2025:
Weighted average remaining lease term (in years) - finance leases3.48
Weighted average discount rate - finance leases5.79%
Schedule of Future Minimum Lease Payments Under the Operating Leases
Future minimum lease payments under the operating leases as of June 30, 2025 were as follows:
Operating
Leases
2025, remaining$2,747,564 
20264,673,528 
20273,393,467 
20282,613,171 
20291,225,505 
203065,516 
Thereafter212,065 
Total future minimum lease payments14,930,816 
Less effects of discounting(1,467,317)
Present value of future minimum lease payments$13,463,499 
Schedule of Finance Lease, Liability, Fiscal Year Maturity
Future minimum lease payments under the finance leases as of June 30, 2025 are as follows:
Finance Leases
2025, remaining$3,207,123 
20265,782,525 
20274,616,290 
20283,320,258 
20291,667,550 
2030211,232 
Total future minimum lease payments18,804,978 
Less effects of discounting(1,828,739)
Present value of future minimum lease payments$16,976,239