12. Related Party Transactions
The Company had various transactions
with a former member of its board of directors and a stockholder of the Company, which is considered a related party.
| ● | The Company leases its headquarters office space in Minnesota
from a company owned by the stockholder. The lease is considered a common control leasing arrangement. The lease liability due to the
stockholder was $889 and $919 as of March 31, 2026 and December 31, 2025, respectively. |
| ● | The Company received Term Loans from GAT during 2024 and 2025
(see Note 8). |
| ● | The Company has a shared services arrangement with a company
that is indirectly owned by the stockholder, for certain support services used in the course of business. In relation to the shared services
arrangement, the Company’s expenses are not material. |
|
15. Related Party Transactions
The Company had various transactions
with a member of the Company’s board of directors and a controlling stockholder of the Company, which is considered a related party.
| |
● |
The Company leases its headquarters office space in
Minnesota from the stockholder. The lease is considered a common control leasing arrangement. See Note 7 for additional information
related to this lease including the operating lease cost for the years ended December 31, 2025 and 2024 and the lease liability due
to the stockholder as of December 31, 2025 and 2024. |
| |
● |
The Company received Term Loans from GAT during 2024
and 2025 that were extinguished on August 25, 2025 (see Note 9). |
| |
● |
The Company has a shared services arrangement with
a company that is indirectly owned by the stockholder, for certain support services used in the course of business. In relation to
the shared services arrangement, the Company’s expenses are not material. |
|