v3.25.4
LEASING (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
SCHEDULE OF COMPONENTS OF LEASE EXPENSE

The following table presents components of lease expense (in US$ thousands) which is recorded within Cost of Services in the Consolidated Statement of Operations:

 

   Year ended   Year ended   Year ended 
   December 31, 2025   December 31, 2024  

December 31, 2023

 
Components of lease expense:               
Finance lease cost:               
Amortization of right-of-use assets  $

3,465

   $3,878   $3,290 
Interest on lease liabilities   219    450    166 
Operating lease cost   

6,792

    7,515    8,715 
Short-term lease (1)   

206,199

    174,542    146,206 
Sublease income   -    -    (24)
Total lease expense  $

216,675

   $186,385   $158,353 

 

(1)   Leases with a term of one year or less, including leases with a term of one month or less.
SCHEDULE OF AMOUNTS RECOGNIZED IN THE CONSOLIDATED BALANCE SHEET

Amounts recognized in the Consolidated Balance Sheet (in US$ thousands):

 

  

As of
December 31, 2025

  

As of
December 31, 2024

 
Components of balance sheet:          
Operating leases:          
Operating lease right-of-use assets (non-current)  $

20,300

    26,042 
Current portion of operating lease liabilities   

2,948

    5,449 
Operating lease liabilities (non-current)   

18,447

    20,843 
Finance leases:          
Property, plant and equipment, net (non-current)  $

6,154

    9,244 
Other current liabilities   

1,755

    5,336 
Other liabilities (not current)   

269

    - 
SCHEDULE OF OPERATING LEASE LIABILITIES

   Year ended   Year ended   Year ended 
   December 31, 2025   December 31, 2024   December 31, 2023 
Other supplemental information (in US$ thousands except percentages):               
Cash paid for amounts included in the measurement of lease liabilities:               
Operating cash flows used by operating leases  $

6,469

   $6,926   $8,317 
Operating cash flows used by finance leases   

219

    450    166 
Financing cash flows used by finance leases   

3,905

    3,193    2,403 
Noncash investing and financing activities:               
Modifications of right-of-use assets obtained in exchange for lease obligations during the year ended:               
Operating leases    (153)   (157)   2,360 
Finance leases   -    -    - 
Right-of-use assets obtained in exchange for lease obligations during the year ended:               
Operating leases   -    1,679    5,855 
Finance leases   

374

    1,126    7,679 
Weighted-average remaining lease term:               
Operating leases   16.80 years    14.70 years    12.84 years  
Finance leases   4.32 years    0.92 years    2.68 years  
Weighted-average discount rate for operating leases               
Operating leases   8.29%   7.90%   7.60%
Finance leases   7.49%   7.12%   7.07%
SCHEDULE OF MATURITIES OF OUR LEASE LIABILITIES

Maturities of our lease liabilities are as follows (in US$ thousands):

 

   As of   As of 
   December 31, 2025   December 31, 2024 
   Operating Leases   Finance Leases   Operating Leases   Finance Leases 
Year:                    
2025  $-   $-   $6,148   $5,567 
2026   3,482    1,778    3,503    - 
2027   2,700    93    3,110    - 
2028   2,669    93    3,035    - 
2029   2,576    93    2,449    - 
2030   2,391    23    -    - 
Thereafter   29,044    -    31,300    - 
Total lease payments   42,862    2,080    49,545    5,567 
Less: imputed interest   (21,467)   (56)   (23,253)   (231)
Total  $21,395   $2,024   $26,292   $5,336