v3.26.1
Leases
 3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Leases Leases
Substantially all current lease activity comes from two active facilities near the Company’s owned headquarters facility in Chaska, Minnesota.
In January 2016, a lease commenced for the Company’s warehouse and final packaging building in Chaska, Minnesota. The lease has since been amended twice to accomplish the following: (i) to extend the term of the lease to September 2034, (ii) to add a purchase option equal to the balance of the lessor’s mortgage loan, valued at $3,100 as of March 31, 2026; and (iii) to provide a $2,400 cash payment to the Company in October 2024 in exchange for an increased rent payment schedule and the updated purchase option. The lease is classified as a finance lease and has a discount rate of 9%, which was the Company’s incremental borrowing rate at the time of the most recent amendment to the lease in August 2024.
In January 2021, a lease commenced for the Company’s warehouse and office space in Chanhassen, Minnesota. The lease expires in March 2028 with an option to extend through March 2033 that the Company is reasonably certain to exercise. The lease is classified as an operating lease and has a discount rate of 3%, which was the Company’s incremental borrowing rate at lease inception.
The components of lease cost were as follows:
Three months ended
March 31,
2026		February 23,
2025
Finance lease cost:
Amortization of leased assets$40 $40 
Interest on lease liabilities129 132 
Operating lease cost74 74 
Total lease cost$243 $246 
The Company’s maturity analysis of operating and finance lease liabilities as of March 31, 2026 are as follows:
Operating
leases		Finance
leases
Remainder of 2026
$308 $519 
2027414 708 
2028144 725 
2029148 729 
2030153 724 
Thereafter347 5,973 
Total lease payments1,514 9,378 
Less: interest(114)(3,547)
Present value of lease liabilities$1,400 $5,831 
Classification on consolidated balance sheet:
Accounts payable
$375 $— 
Accrued expenses and other current liabilities (see note 7)
— 189 
Debt, net of current portion
— 5,642 
Other liabilities
1,025 — 
Present value of lease liabilities$1,400 $5,831 
Supplemental cash flow information related to leases are as follows:
Three months ended
March 31,
2026		February 23,
2025
Operating cash flows from operating leases $102 $101 
Operating cash flows from finance leases 129 132 
Financing cash flows from finance leases 44 37 
Leases Leases
Substantially all current lease activity comes from two active facilities near the Company’s owned headquarters facility in Chaska, Minnesota.
In January 2016, a lease commenced for the Company’s warehouse and final packaging building in Chaska, Minnesota. The lease has since been amended twice to accomplish the following: (i) to extend the term of the lease to September 2034, (ii) to add a purchase option equal to the balance of the lessor’s mortgage loan, valued at $3,100 as of March 31, 2026; and (iii) to provide a $2,400 cash payment to the Company in October 2024 in exchange for an increased rent payment schedule and the updated purchase option. The lease is classified as a finance lease and has a discount rate of 9%, which was the Company’s incremental borrowing rate at the time of the most recent amendment to the lease in August 2024.
In January 2021, a lease commenced for the Company’s warehouse and office space in Chanhassen, Minnesota. The lease expires in March 2028 with an option to extend through March 2033 that the Company is reasonably certain to exercise. The lease is classified as an operating lease and has a discount rate of 3%, which was the Company’s incremental borrowing rate at lease inception.
The components of lease cost were as follows:
Three months ended
March 31,
2026		February 23,
2025
Finance lease cost:
Amortization of leased assets$40 $40 
Interest on lease liabilities129 132 
Operating lease cost74 74 
Total lease cost$243 $246 
The Company’s maturity analysis of operating and finance lease liabilities as of March 31, 2026 are as follows:
Operating
leases		Finance
leases
Remainder of 2026
$308 $519 
2027414 708 
2028144 725 
2029148 729 
2030153 724 
Thereafter347 5,973 
Total lease payments1,514 9,378 
Less: interest(114)(3,547)
Present value of lease liabilities$1,400 $5,831 
Classification on consolidated balance sheet:
Accounts payable
$375 $— 
Accrued expenses and other current liabilities (see note 7)
— 189 
Debt, net of current portion
— 5,642 
Other liabilities
1,025 — 
Present value of lease liabilities$1,400 $5,831 
Supplemental cash flow information related to leases are as follows:
Three months ended
March 31,
2026		February 23,
2025
Operating cash flows from operating leases $102 $101 
Operating cash flows from finance leases 129 132 
Financing cash flows from finance leases 44 37