v3.26.1
Note 9 - Leases
3 Months Ended
Mar. 31, 2026
Notes to Financial Statements  
Lessee, Operating Leases [Text Block]

9.

LEASES

 

The Company’s leases office space in New Jersey, Minnesota, New Hampshire, Madrid and Hong-Kong with lease termination dates in 2026 and 2027. The property leased in China is paid monthly as used, without a formal agreement. The following tables present the components of lease expense and supplemental balance sheet information related to the operating leases were:

  

  

3 Months ended

  

3 Months ended

 
  

March 31,

  

March 31,

 
  

2026

  

2025

 
         

Lease cost

        

Total lease cost

 $7,258  $6,979 

  

  

March 31,

  

December 31,

 

Balance sheet information

 

2026

  

2025

 

Operating right-of-use assets

 $41,383  $47,953 
         

Operating lease liabilities, current portion

 $29,501  $27,728 

Operating lease liabilities, non-current portion

  12,908   21,266 

Total operating lease liabilities

 $42,409  $48,994 
         

Weighted average remaining lease term (in years) – operating leases

  1.42   1.67 

Weighted average discount rate – operating leases

  5.50%  5.50%
         
         

Cash paid for amounts included in the measurement of operating lease liabilities for the three months ended March 31, 2026 and 2025:

 $12,243  $11,964 

 

Maturities of operating lease liabilities were as follows as of March 31, 2026:

 

2026 (9 months remaining)

 $29,501 

2027

  14,985 

Total future lease payments

 $44,486 

Less: imputed interest

  (2,077)

Total

 $42,409