v3.26.1
Leases
6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Leases
10.
LEASES

The Company leases manufacturing and training facilities, storage warehouses, office space, and certain plant equipment under various operating leases. The Company’s operating leases have remaining lease terms of up to 11 years. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option.

For the six months ended June 30, 2026 and June 30, 2025, total operating lease expense was $6.7 million and $6.0 million, respectively. The weighted average remaining lease term at June 30, 2026 and December 31, 2025 was 6.3 years and 6.7 years, respectively. The weighted average discount rate at June 30, 2026 and December 31, 2025 was 4.76% and 4.70%, respectively.

The following table includes supplemental cash flow information for the six months ended June 30, 2026 and June 30, 2025, and supplemental balance sheet information at June 30, 2026 and December 31, 2025 related to operating leases (in thousands):

 

 

Six Months Ended
June 30,

 

Supplemental cash flow information

 

2026

 

 

2025

 

Cash paid for amounts included in the measurement of
   operating lease liabilities

 

$

6,558

 

 

$

5,486

 

Operating assets obtained in exchange for lease
   liabilities

 

$

1,853

 

 

$

1,074

 

 

Supplemental balance sheet information

 

June 30,
2026

 

 

December 31,
2025

 

Operating lease assets

 

$

49,011

 

 

$

52,632

 

Operating lease liabilities:

 

 

 

 

 

 

Accrued expenses and other current liabilities

 

$

12,569

 

 

$

12,079

 

Operating lease liabilities

 

 

37,803

 

 

 

41,755

 

Total operating lease liabilities

 

$

50,372

 

 

$

53,834

 

 

 

 

The following table summarizes maturities of operating lease liabilities at June 30, 2026 (in thousands):

 

Maturities of operating lease liabilities

 

 

 

2026

 

$

6,521

 

2027

 

 

12,576

 

2028

 

 

11,017

 

2029

 

 

5,567

 

2030

 

 

4,319

 

Thereafter

 

 

19,783

 

Total lease payments

 

 

59,783

 

Less imputed interest

 

 

(9,411

)

Total operating lease liabilities

 

$

50,372