LEASES |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| LEASES | LEASES The Company is the lessee of some office spaces and warehouses. Certain leases include renewal options and/or termination options, which are factored into the Company's determination of lease payments when appropriate. Operating lease cost for the three months ended June 30, 2026 and 2025 was $887 thousand and $844 thousand, and for the six months ended June 30, 2026 and 2025 was $1.8 million and $1.7 million, respectively, which excluded cost of short-term contracts. Short-term lease cost for the three months ended June 30, 2026 and 2025 was $13 thousand and $45 thousand, and for the six months ended June 30, 2026 and 2025 was $29 thousand and $91 thousand, respectively. As of June 30, 2026, the Company had operating lease liabilities of $17.5 million, including current portion of $3.5 million, which is presented under accrued expenses and other current liabilities on the consolidated balance sheet. The weighted average remaining lease term was 8.0 years and weighted average discount rate was 5.0%. Supplemental cash flow information of the leases were as follows (in thousands):
Maturity of operating lease liabilities are as follows (in thousands):
Lessor Accounting The Company recognized sales-type lease revenue of $314 thousand and $264 thousand respectively, for the three months ended June 30, 2026 and 2025 and $360 thousand and $4.4 million respectively, for the six months ended June 30, 2026 and 2025. The sales-type lease revenue is included in revenue in the accompanying consolidated statements of operations. As of June 30, 2026, the Company recorded net investment in sales-type leases of $5.6 million including current portion in the amount of $4.2 million, which is presented in accounts receivable on the consolidated balance sheets.
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