v3.26.1
LEASES (Tables)
 3 Months Ended
Mar. 31, 2026
Leases  
SUMMARY OF OPERATING LEASE LIABILITIES

The following table provides a summary of the Company’s operating lease liabilities (in thousands):

 

   March 31, 2026   December 31, 2025 
         
Current operating lease liability  $1,272   $864 
Non-current operating lease liability   3,814    4,069 
Total operating lease liability  $5,086   $4,933 
SCHEDULE OF COMPONENTS OF LEASE COST

The following table provides a summary of the components of lease costs and rent (in thousands):

 

   2026   2025 
   For the three months ended March 31, 
   2026   2025 
         
Operating lease cost  $281   $372 
Variable lease cost   182    116 
Short-term lease cost   15    8 
Total operating lease costs  $478   $496 
SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES

Future minimum lease payments and obligations, which do not include short-term leases, related to the Company’s operating lease liabilities as of March 31, 2026 were as follows (in thousands):

 

Future minimum lease payments and obligations  Operating Leases 
     
2026, remainder  $949 
2027   1,295 
2028   1,325 
2029   1,357 
2030   1,387 
Total undiscounted operating lease payments   6,313 
Less: imputed interest   1,227 
Present value of operating lease liabilities  $5,086