As disclosed in “Note (2) Summary of Significant Accounting Policies; (l) Leases,” we account for our leases in accordance with the guidance in ASC 842. We lease our offices, warehouse facilities and certain equipment under non-cancellable operating leases that expire at various dates through 2032. Total operating lease and short-term lease costs for the three months ended March 31, 2026 and 2025, respectively, were as follows:


Range of remaining lease terms (in years)	0.3	to	5.9
Weighted average remaining lease term (in years)		4.8
Weighted average discount rate		6.7%


(in thousands)
2026 (remainder)	$	1,890
2027	2,379
2028	1,738
2029	1,605
2030	1,286
Thereafter	1,336
Total lease payments	$	10,234
Less imputed interest	(1,250)
Total present value of lease liabilities	$	8,984


	Three Months Ended
	March 31,
(in thousands)	2026		2025
Amortization of ROU assets	$	514	$	638
ROU assets obtained in exchange for operating lease obligations	31		144

As part of our Alfamation™ acquisition on March 12, 2024, we entered into the related-party Alfamation Lease Agreement for the seller-owned facility where Alfamation™ has its principal operations. The Alfamation Lease Agreement commenced on March 12, 2024 and the initial term was six years. It will automatically renew for the same period of time unless terminated by either party. The leased premises include warehouse and office space totaling approximately 52 thousand square feet. The semi-annual lease payments are €0.1 million, which at the date of the signing of the Alfamation Lease agreement equated to approximately $0.1 million per payment.