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The Company has operating leases predominantly for operating facilities. As of June 30, 2026, the remaining lease terms on our operating leases range from approximately one (1) year to six (6) years. Lease terms include renewal options reasonably certain of exercise. There is no transfer of title or option to purchase the leased assets upon expiration. There are no residual value guarantees or material restrictive covenants.
The components of lease expense for the current and prior-year comparative periods were as follows:
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|
Three-months ended
|
|
|
Six-months ended
|
|
| |
|
June 30,
2026
|
|
|
June 30,
2025
|
|
|
June 30,
2026
|
|
|
June 30,
2025
|
|
|
Operating lease cost
|
|
$ |
284 |
|
|
$ |
291 |
|
|
$ |
566 |
|
|
$ |
591 |
|
|
Variable lease cost
|
|
|
40 |
|
|
|
22 |
|
|
|
61 |
|
|
|
46 |
|
|
Total lease cost
|
|
$ |
324 |
|
|
$ |
313 |
|
|
$ |
627 |
|
|
$ |
637 |
|
Supplemental cash flow information related to leases was as follows:
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|
Six-month period ended June 30,
|
|
| |
|
2026
|
|
|
2025
|
|
|
Cash paid for amounts included in the measurement of lease liabilities:
|
|
|
|
|
|
|
|
|
|
Operating cash flows from operating leases
|
|
$ |
514 |
|
|
$ |
617 |
|
|
Right-of-use assets obtained in exchange for lease liabilities:
|
|
$ |
- |
|
|
$ |
- |
|
Supplemental consolidated balance sheet information related to leases was as follows:
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Balance sheet classification
|
|
June 30,
2026
|
|
|
December
31, 2025
|
|
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Assets:
|
|
|
|
|
|
|
|
|
|
|
Operating lease right-of-use asset
|
Other noncurrent assets
|
|
$ |
2,883 |
|
|
$ |
3,344 |
|
| |
|
|
|
|
|
|
|
|
|
|
Liabilities:
|
|
|
|
|
|
|
|
|
|
|
Current operating lease liability
|
Accrued expenses and other current liabilities
|
|
$ |
912 |
|
|
$ |
976 |
|
|
Operating lease liability, net of current portion
|
Other noncurrent liabilities
|
|
|
1,994 |
|
|
|
2,357 |
|
|
Total operating lease liability
|
|
$ |
2,906 |
|
|
$ |
3,333 |
|
| |
|
|
|
|
|
|
|
|
|
|
Weighted-average remaining lease term (years)
|
|
|
3.7 |
|
|
|
4.1 |
|
| |
|
|
|
|
|
|
|
|
|
|
Weighted-average discount rate
|
|
|
7.2 |
% |
|
|
7.1 |
% |
Future minimum lease payments as of June 30, 2026, are as follows:
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Maturity of operating lease liabilities
|
|
|
|
|
|
2026
|
|
$ |
475 |
|
|
2027
|
|
|
948 |
|
|
2028
|
|
|
937 |
|
|
2029
|
|
|
580 |
|
|
2030
|
|
|
151 |
|
|
Thereafter
|
|
|
189 |
|
|
Total lease payments
|
|
|
3,280 |
|
|
Less: Imputed interest
|
|
|
(374 |
) |
|
Present value of remaining lease payments
|
|
$ |
2,906 |
|
|