Lease

3 Months Ended

Mar. 31, 2026

5.1. Our leases primarily consist of real estate leases for office space and do not have any non-lease components. The leases typically run for a period of 2 ~10 years, with an option to renew or terminate the lease after that date. No restrictions or covenants are imposed on leases, but the lease assets shall not be provided as collateral for borrowings.

5.2. Changes in right-of-use assets and lease liabilities:

Changes in right-of-use assets and lease liabilities for the three months ended March 31, 2026 and 2025 are as follows (in thousands):


	Right-of-use assets		Lease liabilities
	Office
Balance at January 1, 2026	$	4,273	$	4,753
Acquisitions	1,317		1,452
Depreciation	(490)		—


Interest expense relating to lease liabilities	—		83
Payments of lease liabilities	—		(513)
Translation differences	(106)		(158)
Balance at March 31, 2026	$	4,994	$	5,617


	Right-of-use assets		Lease liabilities
	Office
Balance at January 1, 2025	$	4,308	$	4,673

Depreciation	(283)		—

Interest expense relating to lease liabilities	—		61
Payments of lease liabilities	—		(269)
Translation differences	21		21
Balance at March 31, 2025	$	4,046	$	4,486