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

NOTE 5 LEASES

The Company leases its office facilities and office equipment which are accounted for as operating leases. Some leases contain clauses for renewal at the Company's option with renewal terms that generally extend the lease term from one to seven years.

The components of lease expense for the Company's operating leases in its unaudited consolidated statements of operations and comprehensive income (loss) were as follows:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Operating lease costs

 

$

14,897

 

 

$

14,184

 

 

$

29,458

 

 

$

28,185

 

Variable lease costs and short-term lease costs were not material.

The weighted-average remaining lease term and discount rate for operating lease liabilities included in the consolidated balance sheets are as follows:

 

 

June 30, 2026

 

 

December 31, 2025

 

Weighted-average remaining lease term (in years)

 

 

4.3

 

 

 

4.2

 

Weighted-average discount rate

 

 

7.87

%

 

 

7.76

%

Supplemental cash flow information related to operating leases was as follows:

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

Cash paid for amounts included in the measurement of lease liabilities

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

33,788

 

 

$

33,071

 

Noncash lease activity

 

 

 

 

 

 

Right-of-use lease assets obtained in exchange for new operating lease liabilities

 

$

28,950

 

 

$

16,340

 

 

The future minimum lease payments under non-cancellable operating leases as of June 30, 2026 are as follows:

Year Ended December 31,

 

Amount

 

Remainder of 2026

 

$

26,820

 

2027

 

 

64,676

 

2028

 

 

53,275

 

2029

 

 

37,896

 

2030

 

 

26,169

 

Thereafter

 

 

30,302

 

Total lease payments

 

$

239,138

 

Less: imputed interest

 

 

(38,479

)

Total lease liabilities

 

$

200,659