v3.25.4
Leases
12 Months Ended
Dec. 31, 2025
Lessee Disclosure [Abstract]  
Leases LEASES:
The Company determines whether an arrangement is a lease at inception. The Company has operating and finance leases for corporate offices, warehouse space and equipment (including vehicles). As of December 31, 2025, the Company is the lessee in all lease agreements. The Company's leases have remaining lease terms of one to eight years, some of which include options to extend the leases based on agreed upon terms, and some of which include options to terminate the leases within one year.
The Company also subleased two of its leased corporate offices. One of the subleases was terminated during the third quarter of 2025 as the Company exited the head lease agreement. The Company's remaining sublease has a remaining term of approximately one year. The Company presents the operating right-of-use asset amortization and the change in operating lease liabilities on the other non-cash amortization line item of the consolidated statements of cash flows.
As most of the Company's leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of lease payments.
The Company has lease agreements that contain both lease and non-lease components (e.g., common-area maintenance). For these agreements, the Company accounts for lease components separately from non-lease components.
During the first quarter of 2024, the Company identified a triggering event to test for the recoverability of all the ROU assets of both the Diversigen and Novosanis subsidiaries, given the Company's decision to initiate a strategic plan to transition away from the microbiome molecular sequencing services business and close its Belgian operations. The Company performed an undiscounted cash flow analysis and determined the carrying values of the ROU assets could not be recovered through the sum of the undiscounted future cash flows and were impaired. During the year ended December 31, 2024 the Company recognized aggregate pre-tax impairment charges of $1.2 million and $0.3 million to its operating and finance ROU assets, respectively. These charges are reported in the Company's consolidated statement of operations.
The components of lease expense are as follows:
For the Years Ended December 31,
202520242023
Operating lease cost$2,285 $1,729 $2,407 
Variable and short-term lease cost37 549 381 
Sublease income(161)(151)(155)
Finance lease cost:
 Amortization of right-of use assets61 331 1,091 
 Interest on lease liabilities22 51 
Total finance lease cost69 353 1,142 
Total lease cost$2,230 $2,480 $3,775 
Supplemental cash flow information related to leases is as follows:
For the Years Ended December 31,
202520242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$2,156 $1,901 $1,863 
Operating cash flows from financing leases22 51 
Financing cash flows from financing leases61 842 1,345 
Non-cash activity:
Right-of-use assets obtained in exchange for operating lease obligations169 4,086 4,363 
Right-of-use assets obtained in exchange for finance lease obligations62 193 334 
Supplemental balance sheet information related to leases is as follows:
December 31,
20252024
Weighted Average Remaining Lease Term
Weighted-average remaining lease term — operating leases6.70 years7.57 years
Weighted-average remaining lease term — finance leases2.70 years3.74 years
Weighted Average Discount Rate
Weighted-average discount rate — operating leases4.48 %4.44 %
Weighted-average discount rate — finance leases5.10 %4.82 %
As of December 31, 2025, minimum lease payments by period are expected to be as follows:
Finance Operating
2026$70 $2,548 
202765 2,287 
202834 2,157 
20292,097 
2030— 2,106 
Thereafter— 3,778 
Total minimum lease payments175 14,973 
Less: imputed interest(12)(1,939)
Present value of lease liabilities$163 $13,034