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LEASES
12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
LEASES
NOTE 5 – LEASES

As discussed in Note 13, management identified immaterial errors in the previously issued consolidated financial statements related to the accounting for certain lease arrangements under ASC 842, Leases. Specifically, the Company determined that right‑of‑use (“ROU”) operating lease assets and corresponding operating lease liabilities were understated due to errors in the subsequent measurement and accounting for certain leases. The correction of these errors also resulted in immaterial impacts to lease‑related expense in the consolidated statements of operations for the affected periods. The revised information for the historical periods is reflected herein.

The Company’s operating leases are primarily for real estate, including medical office suites and corporate offices. For the twelve months ended December 31, 2025, 2024, and 2023, the Company incurred rent expense of $10.0 million, $6.5 million, and $5.8 million, respectively, related to its medical office suites. The Company ceased use of our leased facility in London on November 15, 2025 and have adjusted the remaining right-of-use asset resulting in accelerated amortization of $3.3 million of rent expense for fiscal year 2025, which is classified in selling, general and administrative expenses. The Company’s rent expense related to its medical office suites is classified in cost of services within the Company’s consolidated statements of operations. The Company incurred rent expense of $282,661, $364,413, and $364,413 for the twelve months ended December 31, 2025, 2024, and 2023, respectively, related to the corporate offices which is classified in selling, general and administrative expenses. The Company currently does not have any finance leases.

Real estate lease agreements typically have initial terms of five to ten years and may include one or more options to renew. The useful life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. The Company’s lease agreements do not contain any material residual value guarantees, restrictions or covenants.
The following table presents the weighted-average lease terms and discount rates at December 31, 2025, 2024, and 2023:
December 31,
2025
December 31,
2024
December 31,
2023
Weighted-average remaining lease term5.9 years6.6 years6.2 years
Weight average discount rate6.9%6.5%5.9%
The following table presents supplemental cash flow information for the twelve months ended December 31, 2025 and 2024 (in 000’s):
December 31,
2025
December 31,
2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases$6,716 $6,656 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$1,042 $6,463 
Future minimum rental payments under all non-cancellable operating lease agreements for the succeeding five years are as follows, excluding common area maintenance charges that may be required by the agreements (in 000’s):
Year ending December 31,
2026$6,959 
20276,395 
20285,585 
20294,212 
20303,172 
Thereafter7,793 
Total lease payments34,116 
Less: imputed interest(6,591)
Total lease obligations$27,525