Note 12 - Leases |
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| Lessor, Operating Leases [Text Block] |
Note 12 – Leases
The Company has an operating lease in Wichita, Kansas, which serves as its corporate offices. The lease commencement date was November 1, 2023, and will expire on October 31, 2026, unless sooner terminated or extended. The estimated cash rent payments due through the expiration of this operating lease total $64,289.
As a result of the MicaSense Acquisition, the Company assumed an operating lease for office space in Seattle, Washington, that expires in January 2026 with a 3% per year increase, and months of abated rent for December 2020 and January 2021. The estimated cash rent payments due through the expiration of this operating lease total approximately $18,860. Starting late 2022, the Company engaged in consolidating its business and manufacturing operations from multiple offices to two centralized locations in Wichita, Kansas and Lausanne, Switzerland. In May 2023, the Company executed a sublease agreement for their facility located in Seattle, Washington; however, the Company remains the primary obligor under the original lease.
As a result of the senseFly Acquisition, the Company assumed the operating leases for office spaces in Raleigh, North Carolina and Lausanne, Switzerland. The operating lease in Raleigh expired in July 2023 and the operating lease in Lausanne was set to expire in April 2023. The Company was required to notify the landlord of its intention to not renew the lease in March 2022. The Company neglected to provide such notification, therefore, a year renewal option was automatically triggered in March 2022. The Lausanne lease is now set to expire in April 2028. The estimated cash rent payments due through the expiration of this operating lease total approximately $1,791,328.
As of December 31, 2025 and 2024, balance sheet information related to the Company’s operating leases is as follows:
For the years ended December 31, 2025 and 2024, operating lease expense payments were $1,075,382 and $1,054,116, respectively, and are included in general and administrative expenses in the consolidated statements of operations and comprehensive loss.
As of December 31, 2025, scheduled future maturities of the Company’s lease liabilities are as follows:
As of December 31, 2025 and 2024, the weighted average lease-term and discount rate of the Company’s leases are as follows:
For the years ended December 31, 2025 and 2024, supplemental cash flow information related to leases is as follows:
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