Note 10 - Leases

12 Months Ended

Dec. 31, 2025

10. LEASES

The terms of the Company’s two primary office space lease arrangements are as follows:

•

The Gallarate, Italy building lease, for approximately 1,335 square feet, runs through April 30, 2031. This facility serves as the operating headquarters for our European operations.

•

The Aurora, IL warehouse lease, for approximately 11,000 square feet, runs through March 31, 2031. This facility serves as an outside warehouse facility.

The Company also has two additional operating leases related to certain office equipment and one short-term lease. Our leases have remaining lease terms of 3.3 years to 5.3 years. Our leases do not contain any material residual value guarantees or material restricted covenants and we currently have no material sublease arrangements. We have no financing leases as defined under ASC 842.

Total operating lease expense is as follows:

		2025		2024
Operating lease cost	$	185	$	180
Short-term lease cost		5		9
Total lease cost	$	190	$	189

The weighted average remaining lease terms were 5.25 years and 6.18 years as of December 31, 2025 and 2024, respectively. The weighted average discount rates were 8.27% and 8.25% as of December 31, 2025 and 2024, respectively.

Remaining maturities of our existing lease liabilities as of December 31, 2025 were as follows:

Year Ending December 31,	Operating Leases
2026	$	133
2027		136
2028		136
2029		134
2030		137
Thereafter		37
Total lease payments	$	713
Less imputed interest		(133	)
Total	$	580

The following is the balance sheet classification of our existing lease liabilities:

	2025		2024
Operating lease liabilities - current	$	89	$	77
Operating lease liabilities - non-current		491		548
Total operating lease liabilities	$	580	$	625

Supplemental cash flow information related to leases was as follows:

	For the Twelve Months ended December 31, 2025		For the twelve months ended December 31, 2024
Cash paid for amounts included in the measurement of lease liabilities	$	135	$	132
Leased assets obtained in exchange for operating lease liabilities		26		95