Right-of-Use Asset and Lease Liabilities (Tables) - HZO, Inc. and Subsidiaries
|
3 Months Ended |
12 Months Ended |
Mar. 31, 2026 |
Dec. 31, 2025 |
| Right-of-Use Asset and Lease Liabilities |
|
|
| Schedule of components of lease expense |
| | | | | | | | | | | | | | | | 2026 | | 2025 | Operating lease cost | | $ | 228,983 | | $ | 270,541 | Finance lease cost: | | | | | | | Amortization of assets | | | 13,453 | | | 13,453 | Interest on lease liabilities | | | 3,138 | | | 4,204 | Total lease cost | | $ | 245,574 | | $ | 288,198 |
|
The components of lease expense recorded in the consolidated statements of operations and comprehensive loss were as follows for the year ended December 31: | | | | | | | | | | | | | | | | 2025 | | 2024 | Operating lease cost | | $ | 1,026,354 | | $ | 1,118,058 | Finance lease cost: | | | | | | | Amortization of assets | | | 53,811 | | | 42,143 | Interest on lease liabilities | | | 15,247 | | | 14,387 | Total lease cost | | $ | 1,095,412 | | $ | 1,174,588 |
|
| Schedule of supplemental balance sheet information related to leas |
| | | | | | | | | | | | | | | | | | | | | | As of | | As of | | | | | March 31, | | December 31, | Leases | | Classification | | 2026 | | 2025 | Assets: | | | | | | | | | Operating lease assets | | Operating ROU asset, net | | $ | 2,506,855 | | $ | 2,675,083 | Finance lease assets | | Property and equipment, net | | | 122,507 | | | 135,959 | Total leased assets | | | | $ | 2,629,362 | | $ | 2,811,042 | Liabilities: | | | | | | | | | Current | | | | | | | | | Operating | | Operating lease liabilities, current | | $ | 992,031 | | $ | 982,996 | Finance | | Accrued expenses and other current liabilities | | | 50,251 | | | 51,401 | Non-current | | | | | | | | | Operating | | Operating lease liabilities, non-current | | | 1,739,595 | | | 1,931,610 | Finance | | Other liabilities | | | 83,204 | | | 94,855 | Total lease liabilities | | | | $ | 2,865,081 | | $ | 3,060,862 |
|
Supplemental balance sheet information related to leases was as follows as of December 31: | | | | | | | | | | | | | | | | | | Leases | | Classification | | 2025 | | 2024 | Assets: | | | | | | | | | Operating lease assets | | Operating ROU asset, net | | $ | 2,675,083 | | $ | 3,390,744 | Finance lease assets | | Property and equipment, net | | | 135,959 | | | 189,770 | Total leased assets | | | | $ | 2,811,042 | | $ | 3,580,514 | | | | | | | | | | Liabilities: | | | | | | | | | Current | | | | | | | | | Operating | | Operating lease liabilities, current | | $ | 982,996 | | $ | 1,015,052 | Finance | | Accrued expenses and other current liabilities | | | 51,401 | | | 63,759 | Non-current | | | | | | | | | Operating | | Operating lease liabilities, non-current | | | 1,931,610 | | | 2,635,658 | Finance | | Other liabilities | | | 94,855 | | | 131,009 | Total lease liabilities | | | | $ | 3,060,862 | | $ | 3,845,478 |
|
| Schedule of supplemental cash flow and other information related to leases |
| | | | | | | | | | | | | | | | | | 2026 | | 2025 | | Cash paid for amounts included in the measurement of lease liabilities: | | | | | | | | Operating cash flows from operating leases | | $ | 182,980 | | $ | 200,215 | | Financing cash flows from finance leases | | | 12,801 | | | 11,735 | | | | $ | 195,781 | | $ | 211,950 | | Weighted average remaining operating lease term (in years): | | | | | | | | Operating leases | | | 3.4 | | | 4.0 | | Finance leases | | | 2.5 | | | 3.4 | | Weighted average operating lease discount rate: | | | | | | | | Operating leases | | | 8.3 | % | | 8.1 | % | Finance leases | | | 9.0 | % | | 8.9 | % |
|
Supplemental cash flow and other information related to leases was as follows for the year ended December 31: | | | | | | | | | | | | | | | | | | 2025 | | 2024 | | Cash paid for amounts included in the measurement of lease liabilities: | | | | | | | | Operating cash flows from operating leases | | $ | 757,759 | | $ | 872,460 | | Financing cash flows from finance leases | | $ | 48,511 | | $ | 35,199 | | | | $ | 806,270 | | $ | 907,659 | | | | | | | | | | Weighted average remaining operating lease term (in years): | | | | | | | | Operating leases | | | 3.6 | | | 4.4 | | Finance leases | | | 2.7 | | | 3.6 | | Weighted average operating lease discount rate: | | | | | | | | Operating leases | | | 8.3 | % | | 8.0 | % | Finance leases | | | 8.9 | % | | 8.9 | % |
|
| Schedule of maturities of operating lease liabilities |
| | | | | | | | | | Amount | 2026 (remaining) | | $ | 1,011,364 | 2027 | | | 1,121,602 | 2028 | | | 759,026 | 2029 | | | 649,382 | 2030 | | | 50,673 | Thereafter | | | — | Total lease payments | | $ | 3,592,047 | Less: imputed interest | | | (860,421) | Total lease obligations | | | 2,731,626 | Less: current obligations | | | (992,031) | Long-term lease obligations | | $ | 1,739,595 |
|
Maturities of operating lease liabilities were as follows as of December 31, 2025: | | | | | | | | | | Amount | 2026 | | $ | 1,323,468 | 2027 | | | 1,101,590 | 2028 | | | 753,945 | 2029 | | | 649,382 | 2030 | | | 50,673 | Thereafter | | | — | | | | | Total lease payments | | $ | 3,879,058 | Less: imputed interest | | | (964,452) | Total lease obligations | | | 2,914,606 | Less: current obligations | | | (982,996) | Long-term lease obligations | | $ | 1,931,610 |
|
| Schedule of maturities of finance lease liabilities |
| | | | | | | | | | Amount | 2026 (remaining) | | $ | 46,305 | 2027 | | | 53,656 | 2028 | | | 48,257 | 2029 | | | — | Total lease payments | | $ | 148,218 | Less: imputed interest | | | (14,763) | Total lease obligations | | | 133,455 | Less: current obligations | | | (50,251) | Long-term obligations | | $ | 83,204 |
|
Maturities of finance lease liabilities were as follows as of December 31, 2025: | | | | | | | | | | Amount | 2026 | | $ | 63,760 | 2027 | | | 53,656 | 2028 | | | 48,257 | 2029 | | | — | | | | | Total lease payments | | $ | 165,673 | Less: imputed interest | | | (19,417) | Total lease obligations | | | 146,256 | Less: current obligations | | | (51,401) | Long-term obligations | | $ | 94,855 |
|