v3.26.1
Commitment and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Supplemental Balance Sheet Information
The following table presents the finance and operating leases.
December 31,
20252024
(In thousands)
Assets
Finance leases, included in property, plant and equipment, net
$1,043 $— 
Operating lease right-of-use assets321 30 
Total$1,364 $30 
Liabilities
Finance leases, current$283 $— 
Finance leases, non-current592 — 
Total finance lease liabilities875 — 
Operating leases, current137 23 
Operating leases, non-current185 — 
Total operating lease liabilities322 23 
Total lease liabilities$1,197 $23 
Schedule of Active Finance Leases
The following table presents the active finance leases at December 31, 2025 and the amounts recognized in the Company’s Consolidated Balances at lease commencement.
Equipment Location
Purpose
Expiration
Property & EquipmentFinance Lease Liability
(In thousands)
Stillwater, OK
Lab Equipment
Mar 2029$765 $673 
Stillwater, OK
Lab Equipment
Mar 2029152 133 
Stillwater, OK
Lab Equipment
Mar 2028316 245 

The lease agreements include purchase options that the Company is reasonably certain to exercise. The agreements did not include termination options for either party to the lease or restrictive financial or other covenants.
Schedule of Material Property Leases
The following table presents certain facts regarding the Company’s material property leases as of December 31, 2025.
Location
Purpose
Expiration
Option to Extend (1)
ROU Asset Value at Commencement
(In thousands)
Wheat Ridge, CO
Office/Warehouse
Mar 2028
*
$163 
Wheat Ridge, CO
Office/Warehouse
Mar 2028
*
264 
(1)Number of renewal options(s) / number of year(s) per renewal option.
*No option to extend the lease at termination.
Schedule of Finance and Operating Lease Activity
The following table presents the finance and operating lease activities.
December 31,
20252024
(In thousands)
Finance Lease
Right-of-use assets acquired$1,233 $— 
Amortization expense190 — 
Interest expense34 — 
Cash paid (1)
211 — 
Operating Lease
Right-of-use asset acquired$427 $36 
Lease expense158 36 
Cash paid (1)
155 58 
(1)Cash paid for amounts included in the measurement of lease liabilities.
The following table presents certain information related to the weighted-average remaining lease terms (in years) and weighted-average discount rates used to value acquired right-of-use assets.
December 31,
20252024
Finance Leases
Remaining lease term (years)3.00—
Discount rate4.40%—%
Operating Leases
Remaining lease term (years)2.250.29
Discount rate4.30%8.76%
Schedule of Future Minimum Finance Lease Payments
The following table presents future minimum lease payments under non-cancelable finance and operating leases on an annual undiscounted cash flow basis as of December 31, 2025.
Finance LeasesOperating Leases
(In thousands)
Year Ending December 31,
2026$316 $148 
2027316 152 
2028247 38 
202955 — 
Total lease payments934 338 
Less imputed interest(59)(16)
Present value of future minimum lease payments$875 $322 
Schedule of Future Minimum Operating Lease Payments
The following table presents future minimum lease payments under non-cancelable finance and operating leases on an annual undiscounted cash flow basis as of December 31, 2025.
Finance LeasesOperating Leases
(In thousands)
Year Ending December 31,
2026$316 $148 
2027316 152 
2028247 38 
202955 — 
Total lease payments934 338 
Less imputed interest(59)(16)
Present value of future minimum lease payments$875 $322