v3.26.1
LEASES
 3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
LEASES LEASES
The Company leases certain equipment, manufacturing, warehouse and office space under non-cancellable operating leases with expirations through 2027 under which it is responsible for related maintenance, taxes and insurance. On October 3, 2025, the Company amended the lease to reduce the rentable area, from 29,692 square feet to 25,392 square feet, and rent expenses were decreased in proportion to the reduction in rentable square feet. The Company recorded a reduction to the right of use asset and lease liability of approximately $40 thousand using an incremental borrowing rate of approximately 13.64% and the Company recognized a gain on the lease modification of $2 thousand. The weighted average remaining lease term for operating leases is 1.25 years.
Components of the operating lease costs recognized in net loss were as follows (in thousands):
Three months ended March 31,
 20262025
Operating lease cost
Lease cost$38 $48 
Operating lease cost, net$38 $48 
Supplemental balance sheet information related to the Company’s operating leases as of March 31, 2026 and December 31, 2025 is as follows (in thousands):
 March 31, 2026December 31, 2025
Operating Leases
Operating lease right-of-use assets$175 $207 
Operating lease liabilities$185 $217 
The maturities of lease liabilities under operating leases by years on March 31, 2026 are as follows (in thousands):
Operating Leases
April 2026 through March 2027160 
April 2027 through June 202740 
Total future undiscounted lease payments200 
Less imputed interest(15)
Total lease obligations$185 
Supplemental cash flow information related to leases for the three months ended March 31, 2026 and 2025, was as follows (in thousands):
Three months ended March 31,
 20262025
Supplemental Cash Flow Information: 
Cash paid, net, for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$38 $45 
LEASES LEASES
The Company leases certain equipment, manufacturing, warehouse and office space under non-cancellable operating leases with expirations through 2027 under which it is responsible for related maintenance, taxes and insurance. On October 3, 2025, the Company amended the lease to reduce the rentable area, from 29,692 square feet to 25,392 square feet, and rent expenses were decreased in proportion to the reduction in rentable square feet. The Company recorded a reduction to the right of use asset and lease liability of approximately $40 thousand using an incremental borrowing rate of approximately 13.64% and the Company recognized a gain on the lease modification of $2 thousand. The weighted average remaining lease term for operating leases is 1.25 years.
Components of the operating lease costs recognized in net loss were as follows (in thousands):
Three months ended March 31,
 20262025
Operating lease cost
Lease cost$38 $48 
Operating lease cost, net$38 $48 
Supplemental balance sheet information related to the Company’s operating leases as of March 31, 2026 and December 31, 2025 is as follows (in thousands):
 March 31, 2026December 31, 2025
Operating Leases
Operating lease right-of-use assets$175 $207 
Operating lease liabilities$185 $217 
The maturities of lease liabilities under operating leases by years on March 31, 2026 are as follows (in thousands):
Operating Leases
April 2026 through March 2027160 
April 2027 through June 202740 
Total future undiscounted lease payments200 
Less imputed interest(15)
Total lease obligations$185 
Supplemental cash flow information related to leases for the three months ended March 31, 2026 and 2025, was as follows (in thousands):
Three months ended March 31,
 20262025
Supplemental Cash Flow Information: 
Cash paid, net, for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$38 $45