| Leases |
(9)
Leases
Operating leases and finance leases as of March 31,
2026 and December 31, 2025 consisted of the following:
Schedule of Lease Assets and Liabilities
| | |
March
31, 2026 |
|
|
December 31,
2025
| |
| Operating leases | |
| |
|
|
|
| |
| Assets | |
| |
|
|
|
| |
| ROU operating lease assets | |
$ | 3,747,690 |
|
|
$ |
3,873,697 | |
| | |
| |
|
|
|
| |
| Liabilities | |
| |
|
|
|
| |
| Current portion of operating lease | |
$ | 511,526 |
|
|
$ |
499,072 | |
| Operating lease, net of current portion | |
| 3,508,945 |
|
|
|
3,640,491 | |
| Total operating lease liabilities | |
$ | 4,020,471 |
|
|
$ |
4,139,563 | |
| | |
| |
|
|
|
| |
| Finance leases | |
| |
|
|
|
| |
| Assets | |
| |
|
|
|
| |
| Property and equipment, gross | |
$ | 80,426 |
|
|
$ |
80,426 | |
| Accumulated depreciation | |
| (45,198 |
) |
|
|
(41,848 | ) |
| Property and equipment, net | |
$ | 35,228 |
|
|
$ |
38,578 | |
| | |
| |
|
|
|
| |
| Liabilities | |
| |
|
|
|
| |
| Current portion of finance leases | |
$ | 17,922 |
|
|
$ |
17,646 | |
| Finance lease, net of current portion | |
| 16,800 |
|
|
|
21,386 | |
| Total finance leases | |
$ | 34,722 |
|
|
$ |
39,032 | |
AmpliTech
Group, Inc.
Notes
To Condensed Consolidated Financial Statements
For
the Three Months Ended March 31, 2026 and 2025
(Unaudited)
The
weighted-average remaining lease term and weighted-average discount rates as of March 31, 2026 consisted of the following:
Schedule of Weighted Average Remaining Lease Term and Weighted Average Discount Rate
| |
March
31, 2026 | |
| Weighted-average remaining lease term (years) | |
| |
| Operating leases | |
| 6.80 | |
| Finance leases | |
| 2.41 | |
| Weighted-average discount rate | |
| | |
| Operating leases | |
| 6.27 | % |
| Finance leases | |
| 7.68 | % |
As of March 31, 2026, future minimum lease payments under operating lease liabilities were as follows:
Schedule of Future Minimum Operating Lease Payments
| | |
| | |
| | |
Amount | |
| 2026 (remaining) | |
$ | 559,744 | |
| 2027 | |
| 757,483 | |
| 2028 | |
| 779,311 | |
| 2029 | |
| 781,351 | |
| 2030 | |
| 510,606 | |
| Thereafter | |
| 1,470,323 | |
| Total operating lease payments | |
| 4,858,818 | |
| Less imputed interest | |
| (838,347 | ) |
| Total operating lease obligations | |
| 4,020,471 | |
| Less current operating lease obligations | |
| (511,526 | ) |
| Long-term operating lease obligations | |
$ | 3,508,945 | |
As of March 31, 2026, future minimum lease payments under finance leases were as follows:
Schedule of Future Minimum Lease Payments for Finance Lease
| | |
| | |
| | |
Amount | |
| 2026 (remaining) | |
$ | 15,061 | |
| 2028 | |
| 8,100 | |
| 2029 | |
| 3,375 | |
| Total finance lease payments | |
| 38,630 | |
| Less imputed interest | |
| (3,908 | ) |
| Total finance lease obligations | |
| 34,722 | |
| Less current finance lease obligations | |
| (17,922 | ) |
| Long-term finance lease obligations | |
$ | 16,800 | |
|