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DE 13-3971809 380 Lackawanna Place South Orange NJ 07079 (201) 343-5202 Common stock, par value $0.001 per share NEPH NASDAQ Non-accelerated Filer true false false 10860120 0.001 4697000 5400000 4096000 2414000 4547000 3232000 256000 177000 13596000 11223000 83000 106000 832000 1021000 302000 318000 759000 759000 148000 164000 50000 50000 15770000 13641000 1965000 914000 965000 1462000 414000 391000 3344000 2767000 458000 672000 3802000 3439000 0.001 0.001 5000000 5000000 0 0 0 0 0.001 0.001 40000000 40000000 10860120 10860120 10644268 10644268 11000 11000 153758000 153329000 -141801000 -143138000 11968000 10202000 15770000 13641000 5701000 4311000 10741000 9017000 316000 108000 488000 279000 6017000 4419000 11229000 9296000 1991000 1624000 4210000 3347000 4026000 2795000 7019000 5949000 2418000 2201000 4939000 4455000 366000 311000 712000 606000 29000 35000 58000 74000 2813000 2547000 5709000 5135000 1213000 248000 1310000 814000 1000 1000 1000 1000 30000 31000 62000 44000 -32000 -32000 -21000 -53000 -3000 -2000 40000 -10000 1210000 246000 1350000 804000 13000 9000 13000 9000 1197000 237000 1337000 795000 0.11 0.02 0.12 0.07 0.11 0.02 0.12 0.07 10856541 10600409 10754248 10600379 11112671 10813028 11046023 10691881 10644268 11000 153329000 -143138000 10202000 140000 140000 195615 290000 290000 3610 11000 11000 58000 58000 10843493 11000 153688000 -142998000 10701000 1197000 1197000 13053 3574 10000 10000 60000 60000 10860120 11000 153758000 -141801000 11968000 10544691 11000 152906000 -144332000 8585000 558000 558000 55659 82000 82000 66000 66000 10600350 11000 153054000 -143774000 9291000 10600350 11000 153054000 -143774000 9291000 237000 237000 254 71000 71000 10600604 11000 153125000 -143537000 9599000 10600604 11000 153125000 -143537000 9599000 1337000 795000 23000 30000 32000 43000 121000 147000 22000 41000 189000 175000 2000 9000 -7000 1684000 259000 1337000 -337000 79000 85000 1061000 -24000 -480000 277000 -188000 -168000 -990000 1316000 290000 3000 2000 287000 -2000 -703000 1314000 5400000 3760000 4697000 5074000 1000 1000 6000 <p id="xdx_807_eus-gaap--NatureOfOperations_zlMp74KpC4ne" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 1 – <span id="xdx_821_zGUW7xAQtlw6">Organization and Nature of Operations</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nephros, Inc. (“Nephros” or the “Company”) was incorporated under the laws of the State of Delaware on April 3, 1997. The Company was founded by health professionals, scientists and engineers affiliated with Columbia University to develop advanced end stage renal disease (“ESRD”) therapy technology and products.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beginning in 2009, Nephros introduced high-performance liquid purification filters to meet the demand for water purification in certain medical markets. The Company’s filters, generally classified as ultrafilters, are primarily used in hospitals for the prevention of infection from waterborne pathogens, such as <i>Legionella</i> and <i>Pseudomonas</i>, and in dialysis centers for the removal of biological contaminants from water and bicarbonate concentrate. The Company also develops and sells water filtration products for commercial applications, focusing on the hospitality and food service markets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s primary facility is located at 380 Lackawanna Place, South Orange, New Jersey 07079. This location along with our Whippany, NJ facility, houses the Company’s corporate headquarters, research, manufacturing, and distribution facilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_803_eus-gaap--SignificantAccountingPoliciesTextBlock_zlk9Bn0UWoOa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 2 – <span id="xdx_821_zehmicFeCnD9">Basis of Presentation and Liquidity</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_ecustom--QuarterlyFinancialInformationPolicyTextBlock_z9xHGStWNVvg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_866_zPuYsMgktgee">Interim Financial Information</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying unaudited condensed interim financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 and Article 10 of Regulation S-X. The condensed balance sheet as of December 31, 2025 was derived from the Company’s audited financial statements. Accordingly, they do not include all of the information and footnotes required by GAAP for annual financial statements. Results as of and for the six months ended June 30, 2026 are not necessarily indicative of the results that may be expected for the year ending December 31, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The condensed interim financial statements and notes thereto should be read in conjunction with the financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84F_eus-gaap--SegmentReportingPolicyPolicyTextBlock_zmcPOSkBPb4d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_860_zLjW4kQuMHKj">Segment Reporting</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company operates in only <span id="xdx_90F_eus-gaap--NumberOfOperatingSegments_dc_uSegment_c20260101__20260630__us-gaap--StatementBusinessSegmentsAxis__custom--SingleReportableSegmentMember_zuzLReMlVuQk" title="Number of operating segment">one</span> business segment from which the Company’s chief operating decision maker evaluates the financial performance of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_846_eus-gaap--UseOfEstimates_z3TqDAEhPfUh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86B_zuWHM7zkvug4">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, at the date of the financial statements, and the reported amount of revenues and expenses, during the reporting period. Actual results could differ materially from those estimates. Included in these estimates are assumptions about the collection of accounts receivable, value of inventories, useful life of fixed assets and intangible assets, the assessment of expected cash flows used in evaluating goodwill and other long-lived assets, the assessment of the ability to continue as a going concern and assumptions used in determining stock compensation such as expected volatility and risk-free interest rate.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_ecustom--LiquidityPolicyTextBlock_zYuF1wBlZWCc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86B_zROZhAigY5Oe">Liquidity</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management has evaluated the Company’s projected cash flows, existing cash balances and expected obligations for the twelve-month period following the date these financial statements are issued. Based on this evaluation, management believes that the Company’s existing cash balances and projected cash flows from operations will be sufficient to fund its current operating plan and meet its obligations as they become due for at least twelve months from the date these financial statements are issued. The Company’s projections are dependent on, among other matters, continued revenue growth, customer collections, inventory management and control of operating expenses. Actual results may differ from management’s projections, and adverse changes in these factors could reduce the Company’s available liquidity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company generated net income for the three and six months ended June 30, 2026 and the full year December 31, 2025. The Company generated cash from operations in the three months ended June 30, 2026 due to an increase in net income. Conversely, net cash from operations was negative for the six months ended June 30, 2026 due to an increase in accounts receivable and inventory. The Company generated cash from operations in the three and six months ended June 30, 2025. In addition, the company generated cash from operations in the twelve months ended December 31, 2025 of $<span id="xdx_903_eus-gaap--NetCashProvidedByUsedInOperatingActivities_pn5n6_c20250101__20251231_zdbsqyDjAf3l" title="Cash flow from operations">1.6</span> million. The Company has an accumulated deficit of $<span id="xdx_905_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_pn6n6_di_c20260630_zXKgPuARJbBk" title="Accumulated deficit">142</span> million as of June 30, 2026. The Company continues to focus on growth in sales and managing expenses with the goal of sustaining positive cash flow from operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_844_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zHlyBu9odS6a" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86E_z3MuSIxxYfs1">Recent Accounting Pronouncements, Not Yet Effective</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2024, the FASB issued ASU 2024-03, “ASC 220- Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures,” which requires entities, in the notes to financial statements, to disclose specified information about certain costs and expenses. The guidance is effective for the Company’s annual periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is assessing the impact of adopting this guidance on its financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2025, the FASB issued ASU 2025-11, “Interim Reporting (Topic 270): Narrow-Scope Improvements” (“ASU 2025-11”). ASU 2025-11 is intended to update the guidance in Topic 270 by improving navigability of the required interim disclosures, clarifying when that guidance is applicable and adding a principle that requires entities to disclose events since the end of the last annual reporting period that have a material impact on the entity. ASU 2025-11 will be effective for the interim reporting periods within annual reporting periods beginning after December 15, 2027, with the option to early adopt at any time prior to the effective date and should be applied either prospectively to financial statements issued for reporting periods after the effective date or retrospectively to any or all prior periods presented in the financial statements. The Company is assessing the impact of adopting this guidance on its financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_844_eus-gaap--ConcentrationRiskCreditRisk_zzmg88IcHhF5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86E_zggU0nnKiyQ7">Concentration of Credit Risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company deposits its cash in financial institutions. At times, such deposits may be in excess of insured limits. To date, the Company has not experienced any impairment losses on its cash. The Company also limits its credit risk with respect to accounts receivable by performing credit evaluations when deemed necessary.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_eus-gaap--MajorCustomersPolicyPolicyTextBlock_zskeDMyMIp4e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_869_zZqWF7doWIwg">Major Customers</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_899_eus-gaap--SchedulesOfConcentrationOfRiskByRiskFactorTextBlock_zzvObAx09Ijg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the three months ended June 30, 2026, and 2025, the following customers accounted for the following percentages of the Company’s revenues, respectively:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B0_z9IdEoRTsG3e" style="display: none">Schedule of Revenues and Accounts Receivable Percentage of Major Customers</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Customer</td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20260401__20260630_zoJYLnOvT186" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250401__20250630_zwBrnTOVAhZj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--MajorCustomersAxis__custom--CustomerAMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zllLCCN6KmGc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: center">A</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">27</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">25</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_408_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--MajorCustomersAxis__custom--CustomerDMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z96C26fSvJM5" style="vertical-align: bottom; background-color: White"> <td style="text-align: center">D</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left">%</td></tr> <tr id="xdx_406_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--MajorCustomersAxis__custom--CustomerBMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z6eCdk4eIIE9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">B</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9</td><td style="text-align: left">%</td></tr> <tr id="xdx_405_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--MajorCustomersAxis__custom--CustomerCMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zaTlKiSns81d" style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1pt">C</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr id="xdx_407_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--MajorCustomersAxis__custom--CustomerTotalMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zv8yCuw8Ueu8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; padding-bottom: 1pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">56</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">50</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the six months ended June 30, 2026, and 2025, the following customers accounted for the following percentages of the Company’s revenues, respectively:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Customer</td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20260101__20260630_zdpRLpxpBPO7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20250101__20250630_zBz9M0Pm1VLg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--MajorCustomersAxis__custom--CustomerAMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zaM8Eb4nbuBh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: center">A</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">23</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">22</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_40F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--MajorCustomersAxis__custom--CustomerBMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zpQ5YmlXPSt2" style="vertical-align: bottom; background-color: White"> <td style="text-align: center">B</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9</td><td style="text-align: left">%</td></tr> <tr id="xdx_408_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--MajorCustomersAxis__custom--CustomerCMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z3A0nVHBeARe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; padding-bottom: 1pt">C</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">12</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr id="xdx_40A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--MajorCustomersAxis__custom--CustomerTotalMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zF6YSsIJx19a" style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">41</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">43</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2026 and December 31, 2025, the following customers accounted for the following percentages of the Company’s accounts receivable, respectively:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Customer</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260101__20260630_zqDTwJBoYF3c" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20250101__20251231_zDaUEpqJL5Ce" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_hsrt--MajorCustomersAxis__custom--CustomerAMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z2UHj5uRLUg5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: center">A</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">20</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">17</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_40F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_hsrt--MajorCustomersAxis__custom--CustomerCMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zRMaGVxNxBof" style="vertical-align: bottom; background-color: White"> <td style="text-align: center">C</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16</td><td style="text-align: left">%</td></tr> <tr id="xdx_400_eus-gaap--ConcentrationRiskPercentage1_pid_dp_hsrt--MajorCustomersAxis__custom--CustomerDMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_znHdY6ZdCHbb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">D</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left">%</td></tr> <tr id="xdx_400_eus-gaap--ConcentrationRiskPercentage1_pid_dp_hsrt--MajorCustomersAxis__custom--CustomerEMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zBeqPCRyiLLc" style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1pt">E</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr id="xdx_405_eus-gaap--ConcentrationRiskPercentage1_pid_dp_hsrt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z9bZBt0jah8d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; padding-bottom: 1pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">48</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">45</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr id="xdx_40A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_hsrt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zmszsA3KiYm1" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; padding-bottom: 1pt">Concentration risk percentage</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">48</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">45</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> </table> <p id="xdx_8AF_zTQ7am8HgMgb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center; text-indent: 34.1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_842_eus-gaap--TradeAndOtherAccountsReceivablePolicy_zRQLiC4b1ntf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86B_zyU2mcVSK6q">Accounts Receivable</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company recognizes an allowance that reflects a current estimate of credit losses expected to be incurred over the life of a financial asset, including trade receivables. The Company continuously monitors collections and payments from its customers and maintains a provision for estimated credit losses. </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The allowance for credit losses reflects the best estimate of expected credit losses of the accounts receivable portfolio determined <span style="background-color: white">by considering </span>current information, forecasts of future economic conditions, industry knowledge and to some extent the Company’s historical experience<span style="background-color: white">. </span>The Company determines its allowance by pooling receivable balances at the customer level and considering various factors, including individual credit risk associated with each customer, the current and future condition of the general economy and industry knowledge. These credit risk factors are monitored on a quarterly basis and updated as necessary. <span style="background-color: white">The Company writes off accounts receivable when they are determined to be uncollectible. The allowance for credit losses was $<span id="xdx_90C_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iI_pp0p0_c20260630_zwY2oJLFlYpd" title="Allowance for doubtful accounts receivable">2,000</span> as of June 30, 2026, and there was <span id="xdx_90B_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iI_pp0p0_do_c20251231_ztvZ7DFfdUrl" title="Allowance for doubtful accounts receivable">no</span> allowance for credit losses as of</span> December 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_849_ecustom--TariffRefundsPolicyTextBlock_zh1N8MUkDJS8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86F_zqgn2AK3VcW7">IEEPA Tariff Refunds</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 20, 2026, the U.S. Supreme Court ruled that the International Emergency Economic Powers Act (“IEEPA”) does not authorize the President to impose tariffs, thereby invalidating prior IEEPA-based tariff programs previously announced by the current U.S. Administration. Following the decision, the President issued an executive order directing that the collection of such IEEPA-based duties end “as soon as practicable.” Although the Supreme Court ruling may allow importers to claim refunds of such previously paid IEEPA-related duties, and recovery may require administrative proceedings or litigation, with timing and outcomes uncertain. On the same date, the U.S. Administration announced new temporary global tariffs under Section 122 of the Trade Act of 1974 to take effect February 24, 2026. Subsequently, the U.S. Court of International Trade ruled that the collected IEEPA tariffs in question must be refunded in accordance with the law. The U.S. Customs and Border Protection (“CBP”) has issued an official notice and launched a special tariff refund program to facilitate such refunds.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the absence of specific U.S. GAAP applicable to tariff refunds, the Company applied the loss-recovery model in ASC 410-30 by analogy and evaluated whether recovery was probable under ASC 450-20. Any future recovery of tariff refund claims will be recognized as a receivable when the claim becomes probable and will be reflected as a reduction of cost of goods sold for inventory previously sold, or as a reduction of inventory for goods that remain unsold.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the six months ended June 30, 2026, the Company received notification from its customs broker, who acts as the Company’s liaison with CBP, that previously paid IEEPA tariffs of approximately $<span id="xdx_909_ecustom--RefundReceivableAmount_pp0p0_c20260101__20260630_zFgq82KBF3S5" title="Refund receivable amount">647,000</span> had been refunded to the Company. Although CBP initiated payment of the approved refunds before June 30, 2026, the related payments were returned due to incorrect bank account information; the amounts had not been collected by the Company as of June 30, 2026. Accordingly, the Company continued to report the approved refund as a receivable. The Company applied the loss recovery model and determined the expected receipt of the refund of the previously paid IEEPA tariffs is probable and estimable. The Company recorded the refund receivable within accounts receivable, net on the consolidated balance sheet as of June 30, 2026. Cash received for the tariff refund will be classified as an operating cash inflow, consistent with the classification of the original tariff payments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accounting for the IEEPA tariff refund reflects the original treatment of the underlying tariff costs. During the six months ended June 30, 2026, the Company recognized a $<span id="xdx_903_ecustom--CostOfGoodsSold_pp0p0_c20260101__20260630_zOZDLt18U7j9" title="Cost of goods sold">624,000</span> reduction in cost of goods sold in the Company’s consolidated statements of operations, representing the expense for IEEPA tariffs on inventory sold to customers since the tariffs were imposed in February 2025. Additionally, the Company recognized a $<span id="xdx_90C_eus-gaap--InventoryWorkInProcess_iI_pp0p0_c20260630_zv967AzFY3R5" title="Inventories">23,000</span> reduction in the carrying value of inventories on hand on the Company’s consolidated balance sheet as of June 30, 2026, for IEEPA tariffs previously capitalized as cost of inventory. The Company will apply this policy consistently to future tariff refunds. The Company expects to receive approximately $<span id="xdx_90F_eus-gaap--StatutoryAccountingPracticesStatutoryNetIncomeAmount_pp0p0_c20260101__20260630_zKQh2oLzSAx3" title="Statutory interest amount">22,000</span> of statutory interest in connection with the refund. Because the interest does not represent recovery of previously recognized tariff costs, the Company accounts for it as a gain contingency under ASC 450-30 and did not recognize the interest as of June 30, 2026. Interest will be recognized in other income when realized or realizable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management concluded that the IEEPA tariff refund, and receipt thereof, does not have any impact on its contracts with customers. The tariff imposed on the Company’s product did not impact its pricing with customers. The Company did not pass the tariff costs through to customers, and its customer contracts do not contain tariff pass-through or refund provisions. Accordingly, the Company did not recognize a customer refund liability or contract modification related to the tariff recovery.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_847_eus-gaap--GoodwillAndIntangibleAssetsGoodwillPolicy_z72mgqfCqNnl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86C_zWLEVrsO50aj">Goodwill</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired in a business combination. In accordance with ASC Topic 350, <i>Intangibles-Goodwill and Other</i>, the Company does not amortize goodwill but tests it for impairment annually on October 1^st of each fiscal year or more frequently if events or changes in circumstances indicate that the asset may be impaired. The Company operates as one reporting segment. When testing goodwill for impairment, the Company may first perform an optional qualitative assessment. The qualitative factors evaluated by the Company include macro-economic conditions of the business environment, overall financial performance, and other entity-specific factors as deemed appropriate. If under such qualitative analysis the Company determines that it is not more likely than not that the reporting segment’s fair value is less than its carrying amount, then no further analysis is necessary. If the Company determines that it is more likely than not that the fair value of its reporting unit is less than its carrying amount, then the quantitative impairment test will be performed. Under the quantitative impairment test, if the carrying amount of the Company’s reporting segment exceeds its fair value, the Company will recognize an impairment loss in an amount equal to that excess but limited to the total amount of goodwill. <span id="xdx_903_eus-gaap--GoodwillImpairmentLoss_do_c20260101__20260630_zrbGAmpgNtge" title="Goodwill impairment"><span id="xdx_901_eus-gaap--GoodwillImpairmentLoss_do_c20250101__20250630_zZT06RaAmAT2" title="Goodwill impairment">No</span></span> goodwill impairment was recorded for the three and six months ended June 30, 2026 and 2025.</span></p> <p id="xdx_853_zZYXf83Vl7xb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_ecustom--QuarterlyFinancialInformationPolicyTextBlock_z9xHGStWNVvg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_866_zPuYsMgktgee">Interim Financial Information</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying unaudited condensed interim financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 and Article 10 of Regulation S-X. The condensed balance sheet as of December 31, 2025 was derived from the Company’s audited financial statements. Accordingly, they do not include all of the information and footnotes required by GAAP for annual financial statements. Results as of and for the six months ended June 30, 2026 are not necessarily indicative of the results that may be expected for the year ending December 31, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The condensed interim financial statements and notes thereto should be read in conjunction with the financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84F_eus-gaap--SegmentReportingPolicyPolicyTextBlock_zmcPOSkBPb4d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_860_zLjW4kQuMHKj">Segment Reporting</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company operates in only <span id="xdx_90F_eus-gaap--NumberOfOperatingSegments_dc_uSegment_c20260101__20260630__us-gaap--StatementBusinessSegmentsAxis__custom--SingleReportableSegmentMember_zuzLReMlVuQk" title="Number of operating segment">one</span> business segment from which the Company’s chief operating decision maker evaluates the financial performance of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 1 <p id="xdx_846_eus-gaap--UseOfEstimates_z3TqDAEhPfUh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86B_zuWHM7zkvug4">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, at the date of the financial statements, and the reported amount of revenues and expenses, during the reporting period. Actual results could differ materially from those estimates. Included in these estimates are assumptions about the collection of accounts receivable, value of inventories, useful life of fixed assets and intangible assets, the assessment of expected cash flows used in evaluating goodwill and other long-lived assets, the assessment of the ability to continue as a going concern and assumptions used in determining stock compensation such as expected volatility and risk-free interest rate.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_ecustom--LiquidityPolicyTextBlock_zYuF1wBlZWCc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86B_zROZhAigY5Oe">Liquidity</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management has evaluated the Company’s projected cash flows, existing cash balances and expected obligations for the twelve-month period following the date these financial statements are issued. Based on this evaluation, management believes that the Company’s existing cash balances and projected cash flows from operations will be sufficient to fund its current operating plan and meet its obligations as they become due for at least twelve months from the date these financial statements are issued. The Company’s projections are dependent on, among other matters, continued revenue growth, customer collections, inventory management and control of operating expenses. Actual results may differ from management’s projections, and adverse changes in these factors could reduce the Company’s available liquidity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company generated net income for the three and six months ended June 30, 2026 and the full year December 31, 2025. The Company generated cash from operations in the three months ended June 30, 2026 due to an increase in net income. Conversely, net cash from operations was negative for the six months ended June 30, 2026 due to an increase in accounts receivable and inventory. The Company generated cash from operations in the three and six months ended June 30, 2025. In addition, the company generated cash from operations in the twelve months ended December 31, 2025 of $<span id="xdx_903_eus-gaap--NetCashProvidedByUsedInOperatingActivities_pn5n6_c20250101__20251231_zdbsqyDjAf3l" title="Cash flow from operations">1.6</span> million. The Company has an accumulated deficit of $<span id="xdx_905_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_pn6n6_di_c20260630_zXKgPuARJbBk" title="Accumulated deficit">142</span> million as of June 30, 2026. The Company continues to focus on growth in sales and managing expenses with the goal of sustaining positive cash flow from operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 1600000 -142000000 <p id="xdx_844_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zHlyBu9odS6a" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86E_z3MuSIxxYfs1">Recent Accounting Pronouncements, Not Yet Effective</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2024, the FASB issued ASU 2024-03, “ASC 220- Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures,” which requires entities, in the notes to financial statements, to disclose specified information about certain costs and expenses. The guidance is effective for the Company’s annual periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is assessing the impact of adopting this guidance on its financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2025, the FASB issued ASU 2025-11, “Interim Reporting (Topic 270): Narrow-Scope Improvements” (“ASU 2025-11”). ASU 2025-11 is intended to update the guidance in Topic 270 by improving navigability of the required interim disclosures, clarifying when that guidance is applicable and adding a principle that requires entities to disclose events since the end of the last annual reporting period that have a material impact on the entity. ASU 2025-11 will be effective for the interim reporting periods within annual reporting periods beginning after December 15, 2027, with the option to early adopt at any time prior to the effective date and should be applied either prospectively to financial statements issued for reporting periods after the effective date or retrospectively to any or all prior periods presented in the financial statements. The Company is assessing the impact of adopting this guidance on its financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_844_eus-gaap--ConcentrationRiskCreditRisk_zzmg88IcHhF5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86E_zggU0nnKiyQ7">Concentration of Credit Risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company deposits its cash in financial institutions. At times, such deposits may be in excess of insured limits. To date, the Company has not experienced any impairment losses on its cash. The Company also limits its credit risk with respect to accounts receivable by performing credit evaluations when deemed necessary.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_eus-gaap--MajorCustomersPolicyPolicyTextBlock_zskeDMyMIp4e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_869_zZqWF7doWIwg">Major Customers</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_899_eus-gaap--SchedulesOfConcentrationOfRiskByRiskFactorTextBlock_zzvObAx09Ijg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the three months ended June 30, 2026, and 2025, the following customers accounted for the following percentages of the Company’s revenues, respectively:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B0_z9IdEoRTsG3e" style="display: none">Schedule of Revenues and Accounts Receivable Percentage of Major Customers</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Customer</td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20260401__20260630_zoJYLnOvT186" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250401__20250630_zwBrnTOVAhZj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--MajorCustomersAxis__custom--CustomerAMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zllLCCN6KmGc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: center">A</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">27</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">25</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_408_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--MajorCustomersAxis__custom--CustomerDMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z96C26fSvJM5" style="vertical-align: bottom; background-color: White"> <td style="text-align: center">D</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left">%</td></tr> <tr id="xdx_406_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--MajorCustomersAxis__custom--CustomerBMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z6eCdk4eIIE9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">B</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9</td><td style="text-align: left">%</td></tr> <tr id="xdx_405_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--MajorCustomersAxis__custom--CustomerCMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zaTlKiSns81d" style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1pt">C</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr id="xdx_407_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--MajorCustomersAxis__custom--CustomerTotalMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zv8yCuw8Ueu8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; padding-bottom: 1pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">56</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">50</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the six months ended June 30, 2026, and 2025, the following customers accounted for the following percentages of the Company’s revenues, respectively:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Customer</td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20260101__20260630_zdpRLpxpBPO7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20250101__20250630_zBz9M0Pm1VLg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--MajorCustomersAxis__custom--CustomerAMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zaM8Eb4nbuBh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: center">A</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">23</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">22</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_40F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--MajorCustomersAxis__custom--CustomerBMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zpQ5YmlXPSt2" style="vertical-align: bottom; background-color: White"> <td style="text-align: center">B</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9</td><td style="text-align: left">%</td></tr> <tr id="xdx_408_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--MajorCustomersAxis__custom--CustomerCMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z3A0nVHBeARe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; padding-bottom: 1pt">C</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">12</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr id="xdx_40A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--MajorCustomersAxis__custom--CustomerTotalMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zF6YSsIJx19a" style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">41</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">43</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2026 and December 31, 2025, the following customers accounted for the following percentages of the Company’s accounts receivable, respectively:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Customer</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260101__20260630_zqDTwJBoYF3c" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20250101__20251231_zDaUEpqJL5Ce" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_hsrt--MajorCustomersAxis__custom--CustomerAMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z2UHj5uRLUg5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: center">A</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">20</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">17</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_40F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_hsrt--MajorCustomersAxis__custom--CustomerCMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zRMaGVxNxBof" style="vertical-align: bottom; background-color: White"> <td style="text-align: center">C</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16</td><td style="text-align: left">%</td></tr> <tr id="xdx_400_eus-gaap--ConcentrationRiskPercentage1_pid_dp_hsrt--MajorCustomersAxis__custom--CustomerDMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_znHdY6ZdCHbb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">D</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left">%</td></tr> <tr id="xdx_400_eus-gaap--ConcentrationRiskPercentage1_pid_dp_hsrt--MajorCustomersAxis__custom--CustomerEMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zBeqPCRyiLLc" style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1pt">E</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr id="xdx_405_eus-gaap--ConcentrationRiskPercentage1_pid_dp_hsrt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z9bZBt0jah8d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; padding-bottom: 1pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">48</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">45</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr id="xdx_40A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_hsrt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zmszsA3KiYm1" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; padding-bottom: 1pt">Concentration risk percentage</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">48</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">45</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> </table> <p id="xdx_8AF_zTQ7am8HgMgb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center; text-indent: 34.1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_899_eus-gaap--SchedulesOfConcentrationOfRiskByRiskFactorTextBlock_zzvObAx09Ijg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the three months ended June 30, 2026, and 2025, the following customers accounted for the following percentages of the Company’s revenues, respectively:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B0_z9IdEoRTsG3e" style="display: none">Schedule of Revenues and Accounts Receivable Percentage of Major Customers</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Customer</td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20260401__20260630_zoJYLnOvT186" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250401__20250630_zwBrnTOVAhZj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--MajorCustomersAxis__custom--CustomerAMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zllLCCN6KmGc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: center">A</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">27</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">25</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_408_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--MajorCustomersAxis__custom--CustomerDMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z96C26fSvJM5" style="vertical-align: bottom; background-color: White"> <td style="text-align: center">D</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left">%</td></tr> <tr id="xdx_406_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--MajorCustomersAxis__custom--CustomerBMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z6eCdk4eIIE9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">B</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9</td><td style="text-align: left">%</td></tr> <tr id="xdx_405_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--MajorCustomersAxis__custom--CustomerCMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zaTlKiSns81d" style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1pt">C</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr id="xdx_407_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--MajorCustomersAxis__custom--CustomerTotalMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zv8yCuw8Ueu8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; padding-bottom: 1pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">56</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">50</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the six months ended June 30, 2026, and 2025, the following customers accounted for the following percentages of the Company’s revenues, respectively:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Customer</td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20260101__20260630_zdpRLpxpBPO7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20250101__20250630_zBz9M0Pm1VLg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--MajorCustomersAxis__custom--CustomerAMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zaM8Eb4nbuBh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: center">A</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">23</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">22</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_40F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--MajorCustomersAxis__custom--CustomerBMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zpQ5YmlXPSt2" style="vertical-align: bottom; background-color: White"> <td style="text-align: center">B</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9</td><td style="text-align: left">%</td></tr> <tr id="xdx_408_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--MajorCustomersAxis__custom--CustomerCMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z3A0nVHBeARe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; padding-bottom: 1pt">C</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">12</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr id="xdx_40A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_hsrt--MajorCustomersAxis__custom--CustomerTotalMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zF6YSsIJx19a" style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">41</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">43</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2026 and December 31, 2025, the following customers accounted for the following percentages of the Company’s accounts receivable, respectively:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Customer</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260101__20260630_zqDTwJBoYF3c" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20250101__20251231_zDaUEpqJL5Ce" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_hsrt--MajorCustomersAxis__custom--CustomerAMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z2UHj5uRLUg5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: center">A</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">20</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">17</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_40F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_hsrt--MajorCustomersAxis__custom--CustomerCMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zRMaGVxNxBof" style="vertical-align: bottom; background-color: White"> <td style="text-align: center">C</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16</td><td style="text-align: left">%</td></tr> <tr id="xdx_400_eus-gaap--ConcentrationRiskPercentage1_pid_dp_hsrt--MajorCustomersAxis__custom--CustomerDMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_znHdY6ZdCHbb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">D</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left">%</td></tr> <tr id="xdx_400_eus-gaap--ConcentrationRiskPercentage1_pid_dp_hsrt--MajorCustomersAxis__custom--CustomerEMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zBeqPCRyiLLc" style="vertical-align: bottom; background-color: White"> <td style="text-align: center; padding-bottom: 1pt">E</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr id="xdx_405_eus-gaap--ConcentrationRiskPercentage1_pid_dp_hsrt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z9bZBt0jah8d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; padding-bottom: 1pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">48</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">45</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr id="xdx_40A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_hsrt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zmszsA3KiYm1" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; padding-bottom: 1pt">Concentration risk percentage</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">48</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">45</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> </table> 0.27 0.25 0.11 0.02 0.10 0.09 0.08 0.14 0.56 0.50 0.23 0.22 0.11 0.09 0.07 0.12 0.41 0.43 0.20 0.17 0.11 0.16 0.10 0.01 0.07 0.11 0.48 0.45 0.48 0.45 <p id="xdx_842_eus-gaap--TradeAndOtherAccountsReceivablePolicy_zRQLiC4b1ntf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86B_zyU2mcVSK6q">Accounts Receivable</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company recognizes an allowance that reflects a current estimate of credit losses expected to be incurred over the life of a financial asset, including trade receivables. The Company continuously monitors collections and payments from its customers and maintains a provision for estimated credit losses. </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The allowance for credit losses reflects the best estimate of expected credit losses of the accounts receivable portfolio determined <span style="background-color: white">by considering </span>current information, forecasts of future economic conditions, industry knowledge and to some extent the Company’s historical experience<span style="background-color: white">. </span>The Company determines its allowance by pooling receivable balances at the customer level and considering various factors, including individual credit risk associated with each customer, the current and future condition of the general economy and industry knowledge. These credit risk factors are monitored on a quarterly basis and updated as necessary. <span style="background-color: white">The Company writes off accounts receivable when they are determined to be uncollectible. The allowance for credit losses was $<span id="xdx_90C_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iI_pp0p0_c20260630_zwY2oJLFlYpd" title="Allowance for doubtful accounts receivable">2,000</span> as of June 30, 2026, and there was <span id="xdx_90B_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iI_pp0p0_do_c20251231_ztvZ7DFfdUrl" title="Allowance for doubtful accounts receivable">no</span> allowance for credit losses as of</span> December 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 2000 0 <p id="xdx_849_ecustom--TariffRefundsPolicyTextBlock_zh1N8MUkDJS8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86F_zqgn2AK3VcW7">IEEPA Tariff Refunds</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 20, 2026, the U.S. Supreme Court ruled that the International Emergency Economic Powers Act (“IEEPA”) does not authorize the President to impose tariffs, thereby invalidating prior IEEPA-based tariff programs previously announced by the current U.S. Administration. Following the decision, the President issued an executive order directing that the collection of such IEEPA-based duties end “as soon as practicable.” Although the Supreme Court ruling may allow importers to claim refunds of such previously paid IEEPA-related duties, and recovery may require administrative proceedings or litigation, with timing and outcomes uncertain. On the same date, the U.S. Administration announced new temporary global tariffs under Section 122 of the Trade Act of 1974 to take effect February 24, 2026. Subsequently, the U.S. Court of International Trade ruled that the collected IEEPA tariffs in question must be refunded in accordance with the law. The U.S. Customs and Border Protection (“CBP”) has issued an official notice and launched a special tariff refund program to facilitate such refunds.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the absence of specific U.S. GAAP applicable to tariff refunds, the Company applied the loss-recovery model in ASC 410-30 by analogy and evaluated whether recovery was probable under ASC 450-20. Any future recovery of tariff refund claims will be recognized as a receivable when the claim becomes probable and will be reflected as a reduction of cost of goods sold for inventory previously sold, or as a reduction of inventory for goods that remain unsold.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the six months ended June 30, 2026, the Company received notification from its customs broker, who acts as the Company’s liaison with CBP, that previously paid IEEPA tariffs of approximately $<span id="xdx_909_ecustom--RefundReceivableAmount_pp0p0_c20260101__20260630_zFgq82KBF3S5" title="Refund receivable amount">647,000</span> had been refunded to the Company. Although CBP initiated payment of the approved refunds before June 30, 2026, the related payments were returned due to incorrect bank account information; the amounts had not been collected by the Company as of June 30, 2026. Accordingly, the Company continued to report the approved refund as a receivable. The Company applied the loss recovery model and determined the expected receipt of the refund of the previously paid IEEPA tariffs is probable and estimable. The Company recorded the refund receivable within accounts receivable, net on the consolidated balance sheet as of June 30, 2026. Cash received for the tariff refund will be classified as an operating cash inflow, consistent with the classification of the original tariff payments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accounting for the IEEPA tariff refund reflects the original treatment of the underlying tariff costs. During the six months ended June 30, 2026, the Company recognized a $<span id="xdx_903_ecustom--CostOfGoodsSold_pp0p0_c20260101__20260630_zOZDLt18U7j9" title="Cost of goods sold">624,000</span> reduction in cost of goods sold in the Company’s consolidated statements of operations, representing the expense for IEEPA tariffs on inventory sold to customers since the tariffs were imposed in February 2025. Additionally, the Company recognized a $<span id="xdx_90C_eus-gaap--InventoryWorkInProcess_iI_pp0p0_c20260630_zv967AzFY3R5" title="Inventories">23,000</span> reduction in the carrying value of inventories on hand on the Company’s consolidated balance sheet as of June 30, 2026, for IEEPA tariffs previously capitalized as cost of inventory. The Company will apply this policy consistently to future tariff refunds. The Company expects to receive approximately $<span id="xdx_90F_eus-gaap--StatutoryAccountingPracticesStatutoryNetIncomeAmount_pp0p0_c20260101__20260630_zKQh2oLzSAx3" title="Statutory interest amount">22,000</span> of statutory interest in connection with the refund. Because the interest does not represent recovery of previously recognized tariff costs, the Company accounts for it as a gain contingency under ASC 450-30 and did not recognize the interest as of June 30, 2026. Interest will be recognized in other income when realized or realizable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management concluded that the IEEPA tariff refund, and receipt thereof, does not have any impact on its contracts with customers. The tariff imposed on the Company’s product did not impact its pricing with customers. The Company did not pass the tariff costs through to customers, and its customer contracts do not contain tariff pass-through or refund provisions. Accordingly, the Company did not recognize a customer refund liability or contract modification related to the tariff recovery.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 647000 624000 23000 22000 <p id="xdx_847_eus-gaap--GoodwillAndIntangibleAssetsGoodwillPolicy_z72mgqfCqNnl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86C_zWLEVrsO50aj">Goodwill</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired in a business combination. In accordance with ASC Topic 350, <i>Intangibles-Goodwill and Other</i>, the Company does not amortize goodwill but tests it for impairment annually on October 1^st of each fiscal year or more frequently if events or changes in circumstances indicate that the asset may be impaired. The Company operates as one reporting segment. When testing goodwill for impairment, the Company may first perform an optional qualitative assessment. The qualitative factors evaluated by the Company include macro-economic conditions of the business environment, overall financial performance, and other entity-specific factors as deemed appropriate. If under such qualitative analysis the Company determines that it is not more likely than not that the reporting segment’s fair value is less than its carrying amount, then no further analysis is necessary. If the Company determines that it is more likely than not that the fair value of its reporting unit is less than its carrying amount, then the quantitative impairment test will be performed. Under the quantitative impairment test, if the carrying amount of the Company’s reporting segment exceeds its fair value, the Company will recognize an impairment loss in an amount equal to that excess but limited to the total amount of goodwill. <span id="xdx_903_eus-gaap--GoodwillImpairmentLoss_do_c20260101__20260630_zrbGAmpgNtge" title="Goodwill impairment"><span id="xdx_901_eus-gaap--GoodwillImpairmentLoss_do_c20250101__20250630_zZT06RaAmAT2" title="Goodwill impairment">No</span></span> goodwill impairment was recorded for the three and six months ended June 30, 2026 and 2025.</span></p> 0 0 <p id="xdx_800_eus-gaap--RevenueFromContractWithCustomerTextBlock_zpgyinQAzKHk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 3 – <span id="xdx_821_zaJjWIlKcsM2">Revenue Recognition</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 34.1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company disaggregates revenue from contracts with customers between product sales and revenue related to royalty, service, and other agreements. A majority of the Company’s revenue is product sales which is recognized at a point-in-time when the product is shipped via external logistics providers and the other criteria of ASC 606 are met. Product revenue is recorded net of variable consideration which includes prompt pay discounts, other discounts, and returns and allowances. The allowance for sales returns was approximately $<span id="xdx_908_ecustom--AllowanceForSalesReturns_iI_c20260630_z7kmiN29WKGh" title="Allowance for sales returns">27,000</span> and $<span id="xdx_908_ecustom--AllowanceForSalesReturns_iI_c20250630_zphrvf713wzf" title="Allowance for sales returns">0</span> as of June 30, 2026 and June 30, 2025, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In addition to product revenue, the Company recognizes revenue related to royalty, service, and other agreements in accordance with the five-step model in ASC 606. Sales-based royalties, for which the license is the predominant item to which the royalties relate, are recognized (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Service revenue is recognized at a point in time when service is completed. The Company is not entitled to payment until the point at which the service is completed. Certain contracts include additional product and related services in cases of emergencies. These performance obligations are separately invoiced at the time of the emergency and are not included in the initial customer contract price.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue from contracts with customers may include multiple deliverables which include a combination of the product and service performance obligations discussed above. The Company has determined that these performance obligations are distinct and therefore should be accounted for as separate revenue transactions for recognition purposes. For these contracts, the Company allocates the transaction price for the contract among the identified performance obligations on a relative standalone selling price basis. The Company establishes standalone selling price for our products based on the observable price of the respective product. For services where the standalone selling price is not directly observable through historical transactions, the Company estimates standalone selling price using expected cost-plus margin based on management judgment by considering available data, such as labor cost of providing the services and internal margin objectives which include market and competitive conditions. Standalone selling prices for our products and services are evaluated on a periodic basis using updated observable inputs and market information to ensure they continue to reflect an appropriate estimate of the price at which the Company would sell each promised good or service on a standalone basis.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company combines contracts with the same customer into a single contract for accounting purposes when the contracts are entered into at or near the same time and the contracts are negotiated as a single commercial package, consideration in one contract depends on the other contract, or the services are considered a single performance obligation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Service, royalty, and other revenues recognized for the three and six months ended June 30, 2026, were approximately $<span id="xdx_905_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20260401__20260630__srt--ProductOrServiceAxis__custom--ServiceRoyaltyAndOtherRevenuesMember_zHpPgmGpGp21" title="Total net revenues">316,000</span> and $<span id="xdx_908_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20260101__20260630__srt--ProductOrServiceAxis__custom--ServiceRoyaltyAndOtherRevenuesMember_zH7QP70okEnd" title="Total net revenues">488,000</span>, respectively. Service, royalty, and other revenues recognized for the three and six months ended June 30, 2025, were approximately $<span id="xdx_90D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20250401__20250630__srt--ProductOrServiceAxis__custom--ServiceRoyaltyAndOtherRevenuesMember_zGIvSMwfJgw2" title="Total net revenues">108,000</span> and $<span id="xdx_90E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20250101__20250630__srt--ProductOrServiceAxis__custom--ServiceRoyaltyAndOtherRevenuesMember_zRToq01rtvPl" title="Total net revenues">279,000</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 27000 0 316000 488000 108000 279000 <p id="xdx_805_eus-gaap--FairValueDisclosuresTextBlock_zFlXrTP0Rrgi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 4 – <span id="xdx_822_zC98v4PU0RLi">Fair Value Measurements</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company measures certain financial instruments and other items at fair value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To determine the fair value, the Company uses the fair value hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use to value an asset or liability and are developed based on market data obtained from independent sources. Unobservable inputs are inputs based on assumptions about the factors market participants would use to value an asset or liability.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To measure fair value, the Company uses the following fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Level 1</i> - Quoted prices in active markets for identical assets or liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Level 2 - </i>Inputs other than Level 1 that are observable for the asset or liability, either directly or indirectly, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data by correlation or other means.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Level 3</i> - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Value is determined using pricing models, discounted cash flow methodologies, or similar techniques and also includes instruments for which the determination of fair value requires significant judgment or estimation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Assets and Liabilities Measured at Fair Value on a Recurring Basis</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company evaluates its financial assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level of classification for each reporting period. <span style="background-color: white">At </span>June 30<span style="background-color: white">, 2026 and December 31, 2025, the Company’s cash equivalents consisted of money market funds. The Company values its cash equivalents using observable inputs that reflect quoted prices for securities with identical characteristics and classify the valuation techniques that use these inputs as Level 1.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_896_eus-gaap--ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_zzUdyoDrZUrj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At June 30, 2026 and December 31, 2025, the fair value measurements of the Company’s assets and liabilities measured on a recurring basis were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_zy3LEJf3rDQd" style="display: none">Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value Measurements at Reporting Date Using</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Quoted Prices</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>in Active</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Markets for</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Identical</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Assets</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Level 1)</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Significant</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Other</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Observable</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Inputs</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Level 2)</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Significant</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Unobservable</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Inputs</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Level 3)</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="10" style="text-align: center">(in thousands)</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">June 30, 2026</td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: justify; padding-bottom: 1pt; padding-left: 10pt">Money market funds</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--MoneyMarketFundsAtCarryingValue_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zvoLLlzKPRN6" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Money market funds">3,407</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--MoneyMarketFundsAtCarryingValue_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zvKmNMUiBoy1" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Money market funds"><span style="-sec-ix-hidden: xdx2ixbrl0619">-</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--MoneyMarketFundsAtCarryingValue_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_z6fQvHsudTFd" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Money market funds"><span style="-sec-ix-hidden: xdx2ixbrl0621">-</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt; padding-left: 10pt">Cash equivalents</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--CashEquivalentsAtCarryingValue_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zN9DkzUYZXv4" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash equivalents">3,407</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--CashEquivalentsAtCarryingValue_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_z7SDOtE0zL77" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash equivalents"><span style="-sec-ix-hidden: xdx2ixbrl0625">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--CashEquivalentsAtCarryingValue_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zg54Pu10DAJk" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash equivalents"><span style="-sec-ix-hidden: xdx2ixbrl0627">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">December 31, 2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt; padding-left: 10pt">Money market funds</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_987_eus-gaap--MoneyMarketFundsAtCarryingValue_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zikE8MgMI9D4" style="border-bottom: Black 1pt solid; text-align: right" title="Money market funds">4,205</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--MoneyMarketFundsAtCarryingValue_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_z0eRBO5iubIa" style="border-bottom: Black 1pt solid; text-align: right" title="Money market funds"><span style="-sec-ix-hidden: xdx2ixbrl0631">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--MoneyMarketFundsAtCarryingValue_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zjQU50EF689" style="border-bottom: Black 1pt solid; text-align: right" title="Money market funds"><span style="-sec-ix-hidden: xdx2ixbrl0633">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt; padding-left: 10pt">Cash equivalents</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--CashEquivalentsAtCarryingValue_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zy8amCSC45fe" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash equivalents">4,205</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--CashEquivalentsAtCarryingValue_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_z5gpRib6Q8Zc" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash equivalents"><span style="-sec-ix-hidden: xdx2ixbrl0637">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--CashEquivalentsAtCarryingValue_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zZLgtSekHoKc" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash equivalents"><span style="-sec-ix-hidden: xdx2ixbrl0639">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A9_zELLhBk80kxl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Assets and Liabilities Not Measured at Fair Value on a Recurring Basis</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The carrying amounts of cash, accounts receivable, accounts payable and accrued expenses approximate fair value due to the short-term maturity of these instruments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The carrying amounts of the lease liabilities and equipment financing approximate fair value as of June 30, 2026 and December 31, 2025 because those financial instruments bear interest at rates that approximate current market rates for similar agreements with similar maturities and credit.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_896_eus-gaap--ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_zzUdyoDrZUrj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At June 30, 2026 and December 31, 2025, the fair value measurements of the Company’s assets and liabilities measured on a recurring basis were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_zy3LEJf3rDQd" style="display: none">Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value Measurements at Reporting Date Using</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Quoted Prices</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>in Active</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Markets for</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Identical</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Assets</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Level 1)</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Significant</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Other</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Observable</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Inputs</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Level 2)</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Significant</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Unobservable</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Inputs</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Level 3)</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="10" style="text-align: center">(in thousands)</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">June 30, 2026</td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: justify; padding-bottom: 1pt; padding-left: 10pt">Money market funds</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--MoneyMarketFundsAtCarryingValue_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zvoLLlzKPRN6" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Money market funds">3,407</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--MoneyMarketFundsAtCarryingValue_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zvKmNMUiBoy1" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Money market funds"><span style="-sec-ix-hidden: xdx2ixbrl0619">-</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--MoneyMarketFundsAtCarryingValue_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_z6fQvHsudTFd" style="border-bottom: Black 1pt solid; width: 14%; text-align: right" title="Money market funds"><span style="-sec-ix-hidden: xdx2ixbrl0621">-</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt; padding-left: 10pt">Cash equivalents</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--CashEquivalentsAtCarryingValue_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zN9DkzUYZXv4" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash equivalents">3,407</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--CashEquivalentsAtCarryingValue_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_z7SDOtE0zL77" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash equivalents"><span style="-sec-ix-hidden: xdx2ixbrl0625">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--CashEquivalentsAtCarryingValue_iI_pn3n3_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zg54Pu10DAJk" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash equivalents"><span style="-sec-ix-hidden: xdx2ixbrl0627">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">December 31, 2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt; padding-left: 10pt">Money market funds</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_987_eus-gaap--MoneyMarketFundsAtCarryingValue_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zikE8MgMI9D4" style="border-bottom: Black 1pt solid; text-align: right" title="Money market funds">4,205</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--MoneyMarketFundsAtCarryingValue_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_z0eRBO5iubIa" style="border-bottom: Black 1pt solid; text-align: right" title="Money market funds"><span style="-sec-ix-hidden: xdx2ixbrl0631">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--MoneyMarketFundsAtCarryingValue_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zjQU50EF689" style="border-bottom: Black 1pt solid; text-align: right" title="Money market funds"><span style="-sec-ix-hidden: xdx2ixbrl0633">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt; padding-left: 10pt">Cash equivalents</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--CashEquivalentsAtCarryingValue_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zy8amCSC45fe" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash equivalents">4,205</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--CashEquivalentsAtCarryingValue_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_z5gpRib6Q8Zc" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash equivalents"><span style="-sec-ix-hidden: xdx2ixbrl0637">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--CashEquivalentsAtCarryingValue_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zZLgtSekHoKc" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash equivalents"><span style="-sec-ix-hidden: xdx2ixbrl0639">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 3407000 3407000 4205000 4205000 <p id="xdx_802_eus-gaap--InventoryDisclosureTextBlock_zo4lO4h2ArN4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 5 – <span id="xdx_820_znCtYr3pzaV8">Inventory</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 34.1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventory is stated at the lower of cost or net realizable value using the first-in, first-out method and consists of raw materials and finished goods. The Company’s inventory components as of June 30, 2026 and December 31, 2025, were as follows:</span></p> <p id="xdx_896_eus-gaap--ScheduleOfInventoryCurrentTableTextBlock_zfF8FQvMX3ub" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BC_zJKQD8yLJxf8" style="display: none">Schedule of Inventory, Net</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20260630_zbCCm10gOaJ" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20251231_zashdvZr67r4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_403_eus-gaap--InventoryFinishedGoods_iI_pn3n3_maINzHa7_zHsrZtei6ioe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Finished goods</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,238</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,973</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--InventoryRawMaterials_iI_pn3n3_maINzHa7_zb0mr92anLxc" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Raw materials</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">309</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">259</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--InventoryNet_iTI_pn3n3_mtINzHa7_z2HoShbNPwx1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total inventory</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,547</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,232</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A1_zGPD5Bbb0161" style="margin-top: 0; margin-bottom: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_896_eus-gaap--ScheduleOfInventoryCurrentTableTextBlock_zfF8FQvMX3ub" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BC_zJKQD8yLJxf8" style="display: none">Schedule of Inventory, Net</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20260630_zbCCm10gOaJ" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20251231_zashdvZr67r4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_403_eus-gaap--InventoryFinishedGoods_iI_pn3n3_maINzHa7_zHsrZtei6ioe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Finished goods</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,238</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,973</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--InventoryRawMaterials_iI_pn3n3_maINzHa7_zb0mr92anLxc" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Raw materials</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">309</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">259</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--InventoryNet_iTI_pn3n3_mtINzHa7_z2HoShbNPwx1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total inventory</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,547</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,232</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 4238000 2973000 309000 259000 4547000 3232000 <p id="xdx_80F_eus-gaap--GoodwillAndIntangibleAssetsDisclosureTextBlock_zV8VkBE3rpQi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 6 – <span id="xdx_82D_zalmbdvTyO15">Intangible Assets and Goodwill</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Intangible Assets</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_894_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_zz9mEbfqeSN" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets as of June 30, 2026, and December 31, 2025 are set forth in the table below. Gross carrying values and accumulated amortization of the Company’s intangible assets by type are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span><span id="xdx_8BF_z0bCABMncqX3">Schedule of Intangible Assets</span></span></span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cost</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Accumulated Amortization</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Net</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cost</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Accumulated Amortization</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Net</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="22" style="text-align: center">(in thousands)</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: justify; padding-bottom: 1pt">Customer relationships</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20260630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zP16bL3zd8ih" style="border-bottom: Black 1pt solid; width: 6%; text-align: right" title="Gross carrying value">540</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20260630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zbluF4T0bE37" style="border-bottom: Black 1pt solid; width: 6%; text-align: right" title="Accumulated amortization">(238</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20260630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zida6rIaRy0a" style="border-bottom: Black 1pt solid; width: 6%; text-align: right" title="Total intangible assets, net">302</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zDbvRoEnaic8" style="border-bottom: Black 1pt solid; width: 6%; text-align: right" title="Gross carrying value">540</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zAZnyHIzcCk9" style="border-bottom: Black 1pt solid; width: 6%; text-align: right" title="Accumulated amortization">(222</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zCnsaFmmjVfk" style="border-bottom: Black 1pt solid; width: 6%; text-align: right" title="Total intangible assets, net">318</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Total intangible assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20260630_z7qktlKAAiFd" style="border-bottom: Black 2.5pt double; text-align: right" title="Gross carrying value">540</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20260630_zk8pR0DlWLFk" style="border-bottom: Black 2.5pt double; text-align: right" title="Accumulated amortization">238</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20260630_zjBU8CMiuM63" style="border-bottom: Black 2.5pt double; text-align: right" title="Total intangible assets, net">302</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20251231_zdk7Ojs1RWDk" style="border-bottom: Black 2.5pt double; text-align: right" title="Gross carrying value">540</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20251231_znkwqPtDgm39" style="border-bottom: Black 2.5pt double; text-align: right" title="Accumulated amortization">(222</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20251231_z5hYKnsItEIa" style="border-bottom: Black 2.5pt double; text-align: right" title="Total intangible assets, net">318</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A0_zHupUGR3x3eb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognized amortization expense of approximately $<span id="xdx_907_eus-gaap--AmortizationOfIntangibleAssets_pp0p0_c20260401__20260630_zCJsJvs11i2j" title="Amortization of intangible assets"><span id="xdx_900_eus-gaap--AmortizationOfIntangibleAssets_pp0p0_c20250401__20250630_zfrtbfK6VYcc" title="Amortization of intangible assets">8,000</span></span> for each of three months ended June 30, 2026 and 2025, respectively. All were recognized in selling, general and administrative expenses on the accompanying condensed statement of operations. The Company recognized amortization expense of approximately $<span id="xdx_905_eus-gaap--AmortizationOfIntangibleAssets_pp0p0_c20260101__20260630_zHVPhtcsDqYg" title="Amortization of intangible assets"><span id="xdx_90C_eus-gaap--AmortizationOfIntangibleAssets_pp0p0_c20250101__20250630_zVHXjankr7X1" title="Amortization of intangible assets">16,000</span></span> for each of six months ended June 30, 2026 and 2025, respectively. All were recognized in selling, general and administrative expenses on the accompanying condensed statement of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_899_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_zlZqIs2BClcj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2026, future amortization expense for each of the next five years is (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B3_zz1mZrVuBU94" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Schedule of Future Amortization Expense</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_492_20260630_zIthzi9i5fG" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify">Fiscal Years</td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_iI_pn3n3_zPd6gDSozre9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">2026 (excluding the six months ended June 30, 2026)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">16</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_pn3n3_zREsbgd2XxNi" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_pn3n3_zaXzL57cVlu1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_pn3n3_zfLxEp1FL1o9" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_pn3n3_zdVsZz6sGvW1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_iI_pn3n3_zzWsFPUntqb7" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2031 and thereafter</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">158</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A7_zRycJA7Td9hg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Goodwill</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill had a carrying value on the Company’s condensed balance sheets of $<span id="xdx_909_eus-gaap--Goodwill_iI_pn5n6_c20260630_zN5Db3ljAGTc" title="Goodwill"><span id="xdx_904_eus-gaap--Goodwill_iI_pn5n6_c20251231_zwD4tYJaRV7b" title="Goodwill">0.8</span></span> million at June 30, 2026 and December 31, 2025, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_894_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_zz9mEbfqeSN" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible assets as of June 30, 2026, and December 31, 2025 are set forth in the table below. Gross carrying values and accumulated amortization of the Company’s intangible assets by type are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span><span id="xdx_8BF_z0bCABMncqX3">Schedule of Intangible Assets</span></span></span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cost</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Accumulated Amortization</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Net</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cost</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Accumulated Amortization</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Net</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="22" style="text-align: center">(in thousands)</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: justify; padding-bottom: 1pt">Customer relationships</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20260630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zP16bL3zd8ih" style="border-bottom: Black 1pt solid; width: 6%; text-align: right" title="Gross carrying value">540</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20260630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zbluF4T0bE37" style="border-bottom: Black 1pt solid; width: 6%; text-align: right" title="Accumulated amortization">(238</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20260630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zida6rIaRy0a" style="border-bottom: Black 1pt solid; width: 6%; text-align: right" title="Total intangible assets, net">302</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zDbvRoEnaic8" style="border-bottom: Black 1pt solid; width: 6%; text-align: right" title="Gross carrying value">540</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zAZnyHIzcCk9" style="border-bottom: Black 1pt solid; width: 6%; text-align: right" title="Accumulated amortization">(222</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zCnsaFmmjVfk" style="border-bottom: Black 1pt solid; width: 6%; text-align: right" title="Total intangible assets, net">318</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Total intangible assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20260630_z7qktlKAAiFd" style="border-bottom: Black 2.5pt double; text-align: right" title="Gross carrying value">540</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20260630_zk8pR0DlWLFk" style="border-bottom: Black 2.5pt double; text-align: right" title="Accumulated amortization">238</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20260630_zjBU8CMiuM63" style="border-bottom: Black 2.5pt double; text-align: right" title="Total intangible assets, net">302</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20251231_zdk7Ojs1RWDk" style="border-bottom: Black 2.5pt double; text-align: right" title="Gross carrying value">540</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20251231_znkwqPtDgm39" style="border-bottom: Black 2.5pt double; text-align: right" title="Accumulated amortization">(222</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20251231_z5hYKnsItEIa" style="border-bottom: Black 2.5pt double; text-align: right" title="Total intangible assets, net">318</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 540000 -238000 302000 540000 -222000 318000 540000 238000 302000 540000 -222000 318000 8000 8000 16000 16000 <p id="xdx_899_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_zlZqIs2BClcj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2026, future amortization expense for each of the next five years is (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B3_zz1mZrVuBU94" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Schedule of Future Amortization Expense</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_492_20260630_zIthzi9i5fG" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify">Fiscal Years</td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_iI_pn3n3_zPd6gDSozre9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">2026 (excluding the six months ended June 30, 2026)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">16</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_pn3n3_zREsbgd2XxNi" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_pn3n3_zaXzL57cVlu1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_pn3n3_zfLxEp1FL1o9" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_pn3n3_zdVsZz6sGvW1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_iI_pn3n3_zzWsFPUntqb7" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2031 and thereafter</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">158</td><td style="text-align: left"> </td></tr> </table> 16000 32000 32000 32000 32000 158000 800000 800000 <p id="xdx_801_ecustom--LicenseAndSupplyAgreementNetTextBlock_zIiC8UDvF2Z2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 7 – <span id="xdx_82D_zWurFtpeS6O5">License and Supply Agreement, net</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 23, 2012, the Company entered into a License and Supply Agreement (as thereafter amended, the “License and Supply Agreement”) with Medica S.p.A. (“Medica”), an Italy-based medical product manufacturing company, for the marketing and sale of certain filtration products based upon Medica’s proprietary Medisulfone ultrafiltration technology in conjunction with the Company’s filtration products, and for an exclusive supply arrangement for the filtration products. Medica is currently the Company’s sole supplier of the filter material used in certain of the Company’s products. Under the License and Supply Agreement, Medica granted to the Company an exclusive license, with right of sublicense, to market, promote, distribute, offer for sale and sell the filtration products worldwide, with certain limitations on territory, during the term of the License and Supply Agreement. In addition, the Company granted Medica an exclusive license under the Company’s intellectual property to make the filtration products during the term of the License and Supply Agreement. The filtration products covered under the License and Supply Agreement include both certain products based on Medica’s proprietary Versatile microfiber technology and certain filtration products based on Medica’s proprietary Medisulfone ultrafiltration technology. In December 2023, the Company signed a new agreement with Medica which had extended the term until December 31, 2028. In November 2025, the Company signed a new agreement with Medica which extends the term until December 31, 2030, unless earlier terminated by either party in accordance with the terms of the License and Supply Agreement. As of November 21, 2025 the Company has agreed with Medica to pay interest per month at the EURIBOR 360-day rate plus 500 basis points calculated on the principal amount of any outstanding invoices that are overdue by more than 15 days beyond the original payment terms. There was no interest recognized for the six months ended June 30, 2026 or June 30, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <br/></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In exchange for the rights granted, we have agreed to make minimum annual aggregate purchases from Medica of €<span id="xdx_90E_eus-gaap--LongTermPurchaseCommitmentAmount_pid_uEUR_c20260101__20260630__us-gaap--TypeOfArrangementAxis__custom--LicenseAndSupplyAgreementMember__dei--LegalEntityAxis__custom--MedicaSpaMember__us-gaap--AwardTypeAxis__custom--TwoThousandTwentyFiveMember_zhuyraMELWij" title="Long-term purchase commitment, amount">4,629,000</span>, €<span id="xdx_900_eus-gaap--LongTermPurchaseCommitmentAmount_pid_uEUR_c20260101__20260630__us-gaap--TypeOfArrangementAxis__custom--LicenseAndSupplyAgreementMember__dei--LegalEntityAxis__custom--MedicaSpaMember__us-gaap--AwardTypeAxis__custom--TwoThousandTwentySixMember_zhpgz95ZGUN5" title="Long-term purchase commitment, amount">4,976,000</span>, €<span id="xdx_902_eus-gaap--LongTermPurchaseCommitmentAmount_pid_uEUR_c20260101__20260630__us-gaap--TypeOfArrangementAxis__custom--LicenseAndSupplyAgreementMember__dei--LegalEntityAxis__custom--MedicaSpaMember__us-gaap--AwardTypeAxis__custom--TwoThousandTwentySevenMember_zd2c409pcZ64" title="Long-term purchase commitment, amount">5,349,000</span>, €<span id="xdx_90C_eus-gaap--LongTermPurchaseCommitmentAmount_pid_uEUR_c20260101__20260630__us-gaap--TypeOfArrangementAxis__custom--LicenseAndSupplyAgreementMember__dei--LegalEntityAxis__custom--MedicaSpaMember__us-gaap--AwardTypeAxis__custom--TwoThousandTwentyEightMember_zAToL96zKRdb" title="Long-term purchase commitment, amount">5,750,000</span>, €<span id="xdx_90A_eus-gaap--LongTermPurchaseCommitmentAmount_pid_uEUR_c20260101__20260630__us-gaap--TypeOfArrangementAxis__custom--LicenseAndSupplyAgreementMember__dei--LegalEntityAxis__custom--MedicaSpaMember__us-gaap--AwardTypeAxis__custom--TwoThousandTwentyNineMember_zdH2aRzok7Dg" title="Long-term purchase commitment, amount">6,000,000</span>, €<span id="xdx_90C_eus-gaap--LongTermPurchaseCommitmentAmount_pid_uEUR_c20260101__20260630__us-gaap--TypeOfArrangementAxis__custom--LicenseAndSupplyAgreementMember__dei--LegalEntityAxis__custom--MedicaSpaMember__us-gaap--AwardTypeAxis__custom--TwoThousandThirtyMember_zj0qDcMSgf6" title="Long-term purchase commitment, amount">6,300,000</span> for the years 2025, 2026, 2027, 2028, 2029 and 2030, respectively. The Company satisfied its minimum purchase requirement for 2025, but if the Company is unable to satisfy its remaining minimum purchase commitment for 2026 and beyond, it will be in breach of the License and Supply Agreement, giving Medica a right of termination.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In exchange for the license, the gross value of the intangible asset capitalized was $<span id="xdx_909_eus-gaap--FiniteLivedLicenseAgreementsGross_iI_pn5n6_c20260630_zYwOOR9Kb15g" title="Capitalized intangible assets, gross">2.3</span> million. License and supply agreement, net, on the balance sheet is $<span id="xdx_905_eus-gaap--IndefiniteLivedLicenseAgreements_iI_pn5n6_c20260630__us-gaap--TypeOfArrangementAxis__custom--LicenseAndSupplyAgreementMember_zVYPua6WQcGi" title="Capitalized intangible assets, net">0.1</span> million and $<span id="xdx_90A_eus-gaap--IndefiniteLivedLicenseAgreements_iI_pn5n6_c20251231__us-gaap--TypeOfArrangementAxis__custom--LicenseAndSupplyAgreementMember_zNDgfD95ubZb" title="Capitalized intangible assets, net">0.2</span> million as of June 30, 2026 and December 31, 2025 respectively. Accumulated amortization is $<span id="xdx_909_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn5n6_c20260630__us-gaap--TypeOfArrangementAxis__custom--LicenseAndSupplyAgreementMember_zxVIRzo9V2mf" title="Accumulated amortization">2.2</span> million as of June 30, 2026 and $<span id="xdx_900_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn5n6_c20251231__us-gaap--TypeOfArrangementAxis__custom--LicenseAndSupplyAgreementMember_zeP9hBa748Ec" title="Accumulated amortization">2.1</span> million as of December 31, 2025. The intangible asset is being amortized as an expense over the life of the License and Supply Agreement. Amortization expense of approximately $<span id="xdx_903_eus-gaap--AmortizationOfIntangibleAssets_c20260401__20260630__us-gaap--TypeOfArrangementAxis__custom--LicenseAndSupplyAgreementMember_zRVP1VNYaKMj" title="Amortization expense">8,000</span> and $<span id="xdx_90F_eus-gaap--AmortizationOfIntangibleAssets_c20250401__20250630__us-gaap--TypeOfArrangementAxis__custom--LicenseAndSupplyAgreementMember_zKR9fi0X7Gda" title="Amortization expense">14,000</span> was recognized in the three months ended June 30, 2026 and 2025, respectively on the statement of operations. Amortization expense of approximately $<span id="xdx_90D_eus-gaap--AmortizationOfIntangibleAssets_c20260101__20260630__us-gaap--TypeOfArrangementAxis__custom--LicenseAndSupplyAgreementMember_zQnc2NW9fKGk" title="Amortization expense">16,000</span> and $<span id="xdx_902_eus-gaap--AmortizationOfIntangibleAssets_c20250101__20250630__us-gaap--TypeOfArrangementAxis__custom--LicenseAndSupplyAgreementMember_zkS39VEmZmmd" title="Amortization expense">27,000</span> was recognized in the six months ended June 30, 2026 and 2025, respectively on the statement of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 4629000 4976000 5349000 5750000 6000000 6300000 2300000 100000 200000 2200000 2100000 8000 14000 16000 27000 <p id="xdx_803_eus-gaap--LesseeOperatingLeasesTextBlock_z9pioViODhCk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 8 –<span id="xdx_828_zIU8vRlq5pea"> Leases</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has operating leases for corporate offices, and office equipment. The leases have remaining lease terms of <span id="xdx_90C_eus-gaap--LesseeOperatingLeaseRemainingLeaseTerm_iI_dtY_c20260630__srt--RangeAxis__srt--MinimumMember_zCsEHKpDdS9i" title="Remaining lease term">1.4</span> to <span id="xdx_904_eus-gaap--LesseeOperatingLeaseRemainingLeaseTerm_iI_dtY_c20260630__srt--RangeAxis__srt--MaximumMember_zzMLJMbHwwMb" title="Remaining lease term">2.4</span> years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lease cost, as presented below, includes costs associated with leases for which right-of-use (“ROU”) assets have been recognized as well as short-term leases.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89D_eus-gaap--LeaseCostTableTextBlock_zA48gQZhWbBd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The components of total lease costs were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B6_zBboiX4S9Dn5" style="display: none">Schedule of Components of Lease Cost</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20260401__20260630_zQ1WjkCupr7a" style="border-bottom: Black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Three months ended</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2026</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250401__20250630_zxvf7kFf19I5" style="border-bottom: Black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Three months ended</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2025</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseCost_pn3n3_maCzm3M_zHaT4cLLvTP8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Operating lease cost</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">94</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">87</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FinanceLeaseLiabilityAbstract_iB_zahvAIXUcBY5" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Finance lease cost:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FinanceLeaseRightOfUseAssetAmortization_i01_pn3n3_maFLCzwYY_zYnAAaOy9ORl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Amortization of right-of-use assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FinanceLeaseInterestExpense_i01_pn3n3_maFLCzwYY_zD63NJF0yYVe" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt; padding-left: 10pt">Interest on lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--FinanceLeaseCost_i01T_pn3n3_maCzm3M_mtFLCzwYY_zaDvFtWQfcBl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Total finance lease cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--VariableLeaseCost_pn3n3_maCzm3M_zXiKScjLxqYj" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Variable lease cost</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">18</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">25</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LeaseCost_iT_pn3n3_mtCzm3M_zn4ZPEFktOu2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total lease cost</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">114</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">114</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20260101__20260630_zPjGqBbd5vvj" style="border-bottom: Black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Six months ended</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2026</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20250101__20250630_z6NWrR1MhMi" style="border-bottom: Black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Six months ended</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2025</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseCost_pn3n3_maCzm3M_zJ5SOKJYM6Hd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Operating lease cost</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">186</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">173</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FinanceLeaseLiabilityAbstract_iB_zGbtT12Bxlk9" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Finance lease cost:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FinanceLeaseRightOfUseAssetAmortization_i01_pn3n3_maFLCzwYY_zRBnDI5Q9ms1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Amortization of right-of-use assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FinanceLeaseInterestExpense_i01_pn3n3_maFLCzwYY_z6XzDeYm1z56" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt; padding-left: 10pt">Interest on lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--FinanceLeaseCost_i01T_pn3n3_maCzm3M_mtFLCzwYY_z2H1AOQCrHx8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Total finance lease cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--VariableLeaseCost_pn3n3_maCzm3M_zCDGDnoRi8wf" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Variable lease cost</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">52</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">57</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LeaseCost_iT_pn3n3_mtCzm3M_z7XY889tCayg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total lease cost</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">241</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">233</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AE_zJuu1svR6H08" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_894_ecustom--ScheduleOfSupplementalCashFlowInformationRelatedToLeasesTableTextBlock_zS4jORo2AAck" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Supplemental cash flow information related to leases was as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B2_zchz9Je3Xt13" style="display: none">Schedule of Supplemental Cash Flow Information Related to Leases</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260101__20260630_zD5blmgaJjI8" style="border-bottom: Black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Six months ended</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2026</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20250101__20250630_zAkOLG67Cusi" style="border-bottom: Black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Six months ended</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2025</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_402_eus-gaap--CashFlowOperatingActivitiesLessorAbstract_iB_zMvIjkUVIjR1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Cash paid for amounts included in the measurement of lease liabilities:</td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseLeaseIncomeLeasePayments_i01_pn3n3_zbEOzqOpgL6j" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: justify; padding-bottom: 2.5pt; padding-left: 10pt">Operating cash flows from operating leases</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">224</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">217</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FinanceLeasePrincipalPayments_i01_pn3n3_z6ae4VARbRBa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt; padding-left: 10pt">Financing cash flows from finance leases</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AF_zbAT0Jt4K2Hd" style="margin-top: 0; margin-bottom: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89E_ecustom--ScheduleOfSupplementalBalanceSheetInformationRelatedToLeasesTableTextBlock_zqQlE8HhH8A9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Supplemental balance sheet information related to leases was as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B0_zlShR0AwgiZa" style="display: none">Schedule of Supplemental Balance Sheet Information Related to Leases</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260630_zzpeo1qHI9Hj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20251231_zn1WxJxNeXrd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_40F_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_zgBAstNuhMn6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify; padding-bottom: 1pt">Operating lease <span id="xdx_90E_eus-gaap--OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList_iI_dxL_c20260630_zE5GgV6cCD0k" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23Assets"><span id="xdx_90C_eus-gaap--OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList_iI_dxL_c20251231_zYWWqdMLbfY5" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23Assets"><span style="-sec-ix-hidden: xdx2ixbrl0805"><span style="-sec-ix-hidden: xdx2ixbrl0806">right-of-use assets</span></span></span></span></td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">818</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">1,004</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FinanceLeaseRightOfUseAsset_iI_pn3n3_zeEB6uUdDmqc" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Finance lease <span id="xdx_909_eus-gaap--FinanceLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList_iI_dxL_c20260630_zDkOC8HF5urg" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23Assets"><span id="xdx_907_eus-gaap--FinanceLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList_iI_dxL_c20251231_z0kTPkUKpYg1" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23Assets"><span style="-sec-ix-hidden: xdx2ixbrl0810"><span style="-sec-ix-hidden: xdx2ixbrl0811">right-of-use assets</span></span></span></span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">14</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">17</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pn3n3_maCz2yO_zNsHwKzOY5fl" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Current portion of <span id="xdx_903_eus-gaap--OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList_iI_dxL_c20260630_zlqpsRb5hEHi" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23LiabilitiesCurrent"><span id="xdx_907_eus-gaap--OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList_iI_dxL_c20251231_zyPWmZ9S4qge" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23LiabilitiesCurrent"><span style="-sec-ix-hidden: xdx2ixbrl0815"><span style="-sec-ix-hidden: xdx2ixbrl0816">operating lease liabilities</span></span></span></span></td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">408</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">386</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pn3n3_maCz2yO_z3dJncOMU8wb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt"><span id="xdx_907_eus-gaap--OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList_iI_dxL_c20260630_z8fi9T2SrDpg" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23Liabilities"><span id="xdx_90C_eus-gaap--OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList_iI_dxL_c20251231_zt3Smfwn02Ig" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23Liabilities"><span style="-sec-ix-hidden: xdx2ixbrl0820"><span style="-sec-ix-hidden: xdx2ixbrl0821">Operating lease liabilities, net of current portion</span></span></span></span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">450</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">661</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OperatingLeaseLiability_iTI_pn3n3_mtCz2yO_zqTtP19aRy66" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Total operating lease liabilities</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">858</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,047</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FinanceLeaseLiabilityCurrent_iI_pn3n3_maFLLzFXh_zuuReV8ym7ce" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Current portion of <span id="xdx_905_eus-gaap--FinanceLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList_iI_dxL_c20260630_z3Qtb8n4tfed" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23LiabilitiesCurrent"><span id="xdx_908_eus-gaap--FinanceLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList_iI_dxL_c20251231_zieHUqyhzy97" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23LiabilitiesCurrent"><span style="-sec-ix-hidden: xdx2ixbrl0828"><span style="-sec-ix-hidden: xdx2ixbrl0829">finance lease liabilities</span></span></span></span></td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">6</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--FinanceLeaseLiabilityNoncurrent_iI_pn3n3_maFLLzFXh_zu8iYpZDrOIa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt"><span id="xdx_908_eus-gaap--FinanceLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList_iI_dxL_c20260630_zxzWNnsJPBa" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23Liabilities"><span id="xdx_906_eus-gaap--FinanceLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList_iI_dxL_c20251231_zHopl57sS2t5" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23Liabilities"><span style="-sec-ix-hidden: xdx2ixbrl0833"><span style="-sec-ix-hidden: xdx2ixbrl0834">Finance lease liabilities</span></span></span></span>, net of current portion</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FinanceLeaseLiability_iTI_pn3n3_mtFLLzFXh_zKLGZ7iU7wLh" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt; padding-left: 10pt">Total finance lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">14</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">16</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Weighted average remaining lease term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_903_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20260630_zj4OcwTREave" title="Weighted average remaining lease term, Operating leases">2.1</span> years </span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_903_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20251231_zYp3qgS77tn3" title="Weighted average remaining lease term, Operating leases">2.6</span> years</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Finance leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_eus-gaap--FinanceLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20260630_zGLLAHAXzUs5" title="Weighted average remaining lease term, Finance leases">2.3</span> years </span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eus-gaap--FinanceLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20251231_zMGIdnUt8P5i" title="Weighted average remaining lease term, Finance leases">2.8</span> years</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Weighted average discount rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_zg8YQJaeVlr6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.0</td><td style="text-align: left">%</td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_z2h2OdINe77c" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Weighted average discount rate, Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FinanceLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_zNp0IMFKUNS9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Finance leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.0</td><td style="text-align: left">%</td></tr> <tr id="xdx_40C_eus-gaap--FinanceLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_zHgtbEcvsQD8" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Weighted average discount rate, Finance leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.0</td><td style="text-align: left">%</td></tr> </table> <p id="xdx_8A6_zsgM1ypHhfF4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89B_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_z3oKVuxx7rQ" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2026, maturities of lease liabilities were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B1_zCg8SWjlbVaa" style="display: none">Schedule of Maturities of Lease Liabilities</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Operating Leases</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Finance Leases</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Year ending December 31,</td><td> </td> <td colspan="6" style="text-align: justify"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: justify">2026 (remaining six months)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iIP1us-gaap--OperatingLeaseLiabilitiesPaymentsDueAbstract_pn3n3_c20260630_zTYAVUdXXTNf" style="width: 16%; text-align: right" title="Operating Leases, 2026">226</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear_iIP1us-gaap--FinanceLeaseLiabilitiesPaymentsDueAbstract_pn3n3_c20260630_zqk58jT21wdk" style="width: 16%; text-align: right" title="Finance Leases, 2026">3</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2027</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iIP1us-gaap--OperatingLeaseLiabilitiesPaymentsDueAbstract_pn3n3_c20260630_zdFSwvttvvH3" style="text-align: right" title="Operating Leases, 2027">450</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iIP1us-gaap--FinanceLeaseLiabilitiesPaymentsDueAbstract_pn3n3_c20260630_zHwmYAHYMRxj" style="text-align: right" title="Finance Leases, 2027">7</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">2028</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iIP1us-gaap--OperatingLeaseLiabilitiesPaymentsDueAbstract_pn3n3_c20260630_zi2ruOvU1z08" style="border-bottom: Black 1pt solid; text-align: right" title="Operating Leases, 2028">251</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iIP1us-gaap--FinanceLeaseLiabilitiesPaymentsDueAbstract_pn3n3_c20260630_zVSocb0OYdbh" style="border-bottom: Black 1pt solid; text-align: right" title="Finance Leases, 2028">5</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Total future minimum lease payments</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iIP1us-gaap--OperatingLeaseLiabilitiesPaymentsDueAbstract_pn3n3_c20260630_zw6hbdwvrSvh" style="text-align: right" title="Operating Leases, Total future minimum lease payments">927</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iIP1us-gaap--FinanceLeaseLiabilitiesPaymentsDueAbstract_pn3n3_c20260630_zdkeXOpk00f3" style="text-align: right" title="Finance Leases, Total future minimum lease payments">15</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Less imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNIP1us-gaap--OperatingLeaseLiabilitiesPaymentsDueAbstract_pn3n3_di_c20260630_zpdSrfwBkCUi" style="border-bottom: Black 1pt solid; text-align: right" title="Operating Leases, Less imputed interest">(69</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--FinanceLeaseLiabilityUndiscountedExcessAmount_iNIP1us-gaap--FinanceLeaseLiabilitiesPaymentsDueAbstract_pn3n3_di_c20260630_zWERxN0FcT5c" style="border-bottom: Black 1pt solid; text-align: right" title="Finance Leases, Less imputed interest">(1</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt; padding-left: 10pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--OperatingLeaseLiability_iIP1us-gaap--OperatingLeaseLiabilitiesPaymentsDueAbstract_pn3n3_c20260630_zB59cHPjHzAi" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating Leases, Total">858</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--FinanceLeaseLiability_iIP1us-gaap--FinanceLeaseLiabilitiesPaymentsDueAbstract_pn3n3_c20260630_z6Y8Zft08nY4" style="border-bottom: Black 2.5pt double; text-align: right" title="Finance Leases, Total">14</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A6_zIrX9lYoCcA9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> P1Y4M24D P2Y4M24D <p id="xdx_89D_eus-gaap--LeaseCostTableTextBlock_zA48gQZhWbBd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The components of total lease costs were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B6_zBboiX4S9Dn5" style="display: none">Schedule of Components of Lease Cost</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20260401__20260630_zQ1WjkCupr7a" style="border-bottom: Black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Three months ended</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2026</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250401__20250630_zxvf7kFf19I5" style="border-bottom: Black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Three months ended</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2025</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseCost_pn3n3_maCzm3M_zHaT4cLLvTP8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Operating lease cost</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">94</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">87</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FinanceLeaseLiabilityAbstract_iB_zahvAIXUcBY5" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Finance lease cost:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FinanceLeaseRightOfUseAssetAmortization_i01_pn3n3_maFLCzwYY_zYnAAaOy9ORl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Amortization of right-of-use assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FinanceLeaseInterestExpense_i01_pn3n3_maFLCzwYY_zD63NJF0yYVe" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt; padding-left: 10pt">Interest on lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--FinanceLeaseCost_i01T_pn3n3_maCzm3M_mtFLCzwYY_zaDvFtWQfcBl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Total finance lease cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--VariableLeaseCost_pn3n3_maCzm3M_zXiKScjLxqYj" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Variable lease cost</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">18</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">25</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LeaseCost_iT_pn3n3_mtCzm3M_zn4ZPEFktOu2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total lease cost</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">114</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">114</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20260101__20260630_zPjGqBbd5vvj" style="border-bottom: Black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Six months ended</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2026</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20250101__20250630_z6NWrR1MhMi" style="border-bottom: Black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Six months ended</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2025</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseCost_pn3n3_maCzm3M_zJ5SOKJYM6Hd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Operating lease cost</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">186</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">173</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FinanceLeaseLiabilityAbstract_iB_zGbtT12Bxlk9" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Finance lease cost:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FinanceLeaseRightOfUseAssetAmortization_i01_pn3n3_maFLCzwYY_zRBnDI5Q9ms1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Amortization of right-of-use assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FinanceLeaseInterestExpense_i01_pn3n3_maFLCzwYY_z6XzDeYm1z56" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt; padding-left: 10pt">Interest on lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--FinanceLeaseCost_i01T_pn3n3_maCzm3M_mtFLCzwYY_z2H1AOQCrHx8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Total finance lease cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--VariableLeaseCost_pn3n3_maCzm3M_zCDGDnoRi8wf" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Variable lease cost</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">52</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">57</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LeaseCost_iT_pn3n3_mtCzm3M_z7XY889tCayg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total lease cost</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">241</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">233</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 94000 87000 1000 1000 1000 1000 2000 2000 18000 25000 114000 114000 186000 173000 2000 2000 1000 1000 3000 3000 52000 57000 241000 233000 <p id="xdx_894_ecustom--ScheduleOfSupplementalCashFlowInformationRelatedToLeasesTableTextBlock_zS4jORo2AAck" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Supplemental cash flow information related to leases was as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B2_zchz9Je3Xt13" style="display: none">Schedule of Supplemental Cash Flow Information Related to Leases</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260101__20260630_zD5blmgaJjI8" style="border-bottom: Black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Six months ended</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2026</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20250101__20250630_zAkOLG67Cusi" style="border-bottom: Black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Six months ended</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2025</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_402_eus-gaap--CashFlowOperatingActivitiesLessorAbstract_iB_zMvIjkUVIjR1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Cash paid for amounts included in the measurement of lease liabilities:</td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseLeaseIncomeLeasePayments_i01_pn3n3_zbEOzqOpgL6j" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: justify; padding-bottom: 2.5pt; padding-left: 10pt">Operating cash flows from operating leases</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">224</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">217</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FinanceLeasePrincipalPayments_i01_pn3n3_z6ae4VARbRBa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt; padding-left: 10pt">Financing cash flows from finance leases</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 224000 217000 3000 2000 <p id="xdx_89E_ecustom--ScheduleOfSupplementalBalanceSheetInformationRelatedToLeasesTableTextBlock_zqQlE8HhH8A9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Supplemental balance sheet information related to leases was as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B0_zlShR0AwgiZa" style="display: none">Schedule of Supplemental Balance Sheet Information Related to Leases</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260630_zzpeo1qHI9Hj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20251231_zn1WxJxNeXrd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr id="xdx_40F_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_zgBAstNuhMn6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify; padding-bottom: 1pt">Operating lease <span id="xdx_90E_eus-gaap--OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList_iI_dxL_c20260630_zE5GgV6cCD0k" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23Assets"><span id="xdx_90C_eus-gaap--OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList_iI_dxL_c20251231_zYWWqdMLbfY5" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23Assets"><span style="-sec-ix-hidden: xdx2ixbrl0805"><span style="-sec-ix-hidden: xdx2ixbrl0806">right-of-use assets</span></span></span></span></td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">818</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">1,004</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FinanceLeaseRightOfUseAsset_iI_pn3n3_zeEB6uUdDmqc" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Finance lease <span id="xdx_909_eus-gaap--FinanceLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList_iI_dxL_c20260630_zDkOC8HF5urg" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23Assets"><span id="xdx_907_eus-gaap--FinanceLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList_iI_dxL_c20251231_z0kTPkUKpYg1" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23Assets"><span style="-sec-ix-hidden: xdx2ixbrl0810"><span style="-sec-ix-hidden: xdx2ixbrl0811">right-of-use assets</span></span></span></span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">14</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">17</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pn3n3_maCz2yO_zNsHwKzOY5fl" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Current portion of <span id="xdx_903_eus-gaap--OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList_iI_dxL_c20260630_zlqpsRb5hEHi" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23LiabilitiesCurrent"><span id="xdx_907_eus-gaap--OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList_iI_dxL_c20251231_zyPWmZ9S4qge" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23LiabilitiesCurrent"><span style="-sec-ix-hidden: xdx2ixbrl0815"><span style="-sec-ix-hidden: xdx2ixbrl0816">operating lease liabilities</span></span></span></span></td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">408</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">386</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pn3n3_maCz2yO_z3dJncOMU8wb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt"><span id="xdx_907_eus-gaap--OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList_iI_dxL_c20260630_z8fi9T2SrDpg" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23Liabilities"><span id="xdx_90C_eus-gaap--OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList_iI_dxL_c20251231_zt3Smfwn02Ig" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23Liabilities"><span style="-sec-ix-hidden: xdx2ixbrl0820"><span style="-sec-ix-hidden: xdx2ixbrl0821">Operating lease liabilities, net of current portion</span></span></span></span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">450</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">661</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OperatingLeaseLiability_iTI_pn3n3_mtCz2yO_zqTtP19aRy66" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Total operating lease liabilities</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">858</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,047</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FinanceLeaseLiabilityCurrent_iI_pn3n3_maFLLzFXh_zuuReV8ym7ce" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Current portion of <span id="xdx_905_eus-gaap--FinanceLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList_iI_dxL_c20260630_z3Qtb8n4tfed" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23LiabilitiesCurrent"><span id="xdx_908_eus-gaap--FinanceLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList_iI_dxL_c20251231_zieHUqyhzy97" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23LiabilitiesCurrent"><span style="-sec-ix-hidden: xdx2ixbrl0828"><span style="-sec-ix-hidden: xdx2ixbrl0829">finance lease liabilities</span></span></span></span></td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">6</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--FinanceLeaseLiabilityNoncurrent_iI_pn3n3_maFLLzFXh_zu8iYpZDrOIa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt"><span id="xdx_908_eus-gaap--FinanceLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList_iI_dxL_c20260630_zxzWNnsJPBa" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23Liabilities"><span id="xdx_906_eus-gaap--FinanceLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList_iI_dxL_c20251231_zHopl57sS2t5" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23Liabilities"><span style="-sec-ix-hidden: xdx2ixbrl0833"><span style="-sec-ix-hidden: xdx2ixbrl0834">Finance lease liabilities</span></span></span></span>, net of current portion</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FinanceLeaseLiability_iTI_pn3n3_mtFLLzFXh_zKLGZ7iU7wLh" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt; padding-left: 10pt">Total finance lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">14</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">16</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Weighted average remaining lease term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_903_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20260630_zj4OcwTREave" title="Weighted average remaining lease term, Operating leases">2.1</span> years </span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_903_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20251231_zYp3qgS77tn3" title="Weighted average remaining lease term, Operating leases">2.6</span> years</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Finance leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_eus-gaap--FinanceLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20260630_zGLLAHAXzUs5" title="Weighted average remaining lease term, Finance leases">2.3</span> years </span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eus-gaap--FinanceLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20251231_zMGIdnUt8P5i" title="Weighted average remaining lease term, Finance leases">2.8</span> years</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Weighted average discount rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_zg8YQJaeVlr6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.0</td><td style="text-align: left">%</td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_z2h2OdINe77c" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Weighted average discount rate, Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FinanceLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_zNp0IMFKUNS9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Finance leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.0</td><td style="text-align: left">%</td></tr> <tr id="xdx_40C_eus-gaap--FinanceLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_zHgtbEcvsQD8" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Weighted average discount rate, Finance leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.0</td><td style="text-align: left">%</td></tr> </table> 818000 1004000 14000 17000 408000 386000 450000 661000 858000 1047000 6000 5000 8000 11000 14000 16000 P2Y1M6D P2Y7M6D P2Y3M18D P2Y9M18D 0.080 0.080 0.080 0.080 0.080 0.080 0.080 0.080 <p id="xdx_89B_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_z3oKVuxx7rQ" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2026, maturities of lease liabilities were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B1_zCg8SWjlbVaa" style="display: none">Schedule of Maturities of Lease Liabilities</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Operating Leases</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Finance Leases</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="6" style="text-align: center">(in thousands)</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Year ending December 31,</td><td> </td> <td colspan="6" style="text-align: justify"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: justify">2026 (remaining six months)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iIP1us-gaap--OperatingLeaseLiabilitiesPaymentsDueAbstract_pn3n3_c20260630_zTYAVUdXXTNf" style="width: 16%; text-align: right" title="Operating Leases, 2026">226</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear_iIP1us-gaap--FinanceLeaseLiabilitiesPaymentsDueAbstract_pn3n3_c20260630_zqk58jT21wdk" style="width: 16%; text-align: right" title="Finance Leases, 2026">3</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2027</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iIP1us-gaap--OperatingLeaseLiabilitiesPaymentsDueAbstract_pn3n3_c20260630_zdFSwvttvvH3" style="text-align: right" title="Operating Leases, 2027">450</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iIP1us-gaap--FinanceLeaseLiabilitiesPaymentsDueAbstract_pn3n3_c20260630_zHwmYAHYMRxj" style="text-align: right" title="Finance Leases, 2027">7</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">2028</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iIP1us-gaap--OperatingLeaseLiabilitiesPaymentsDueAbstract_pn3n3_c20260630_zi2ruOvU1z08" style="border-bottom: Black 1pt solid; text-align: right" title="Operating Leases, 2028">251</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iIP1us-gaap--FinanceLeaseLiabilitiesPaymentsDueAbstract_pn3n3_c20260630_zVSocb0OYdbh" style="border-bottom: Black 1pt solid; text-align: right" title="Finance Leases, 2028">5</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Total future minimum lease payments</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iIP1us-gaap--OperatingLeaseLiabilitiesPaymentsDueAbstract_pn3n3_c20260630_zw6hbdwvrSvh" style="text-align: right" title="Operating Leases, Total future minimum lease payments">927</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iIP1us-gaap--FinanceLeaseLiabilitiesPaymentsDueAbstract_pn3n3_c20260630_zdkeXOpk00f3" style="text-align: right" title="Finance Leases, Total future minimum lease payments">15</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Less imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNIP1us-gaap--OperatingLeaseLiabilitiesPaymentsDueAbstract_pn3n3_di_c20260630_zpdSrfwBkCUi" style="border-bottom: Black 1pt solid; text-align: right" title="Operating Leases, Less imputed interest">(69</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--FinanceLeaseLiabilityUndiscountedExcessAmount_iNIP1us-gaap--FinanceLeaseLiabilitiesPaymentsDueAbstract_pn3n3_di_c20260630_zWERxN0FcT5c" style="border-bottom: Black 1pt solid; text-align: right" title="Finance Leases, Less imputed interest">(1</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt; padding-left: 10pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--OperatingLeaseLiability_iIP1us-gaap--OperatingLeaseLiabilitiesPaymentsDueAbstract_pn3n3_c20260630_zB59cHPjHzAi" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating Leases, Total">858</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--FinanceLeaseLiability_iIP1us-gaap--FinanceLeaseLiabilitiesPaymentsDueAbstract_pn3n3_c20260630_z6Y8Zft08nY4" style="border-bottom: Black 2.5pt double; text-align: right" title="Finance Leases, Total">14</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 226000 3000 450000 7000 251000 5000 927000 15000 69000 1000 858000 14000 <p id="xdx_807_eus-gaap--DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_zq9KqA0GsSPk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 9 – <span id="xdx_827_z3rqJJy0krYi">Stock Plans and Share-Based Payments</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 34.1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair value of stock options and restricted stock is recognized as stock-based compensation expense in the Company’s condensed statement of operations. The Company calculates stock-based compensation expenses in accordance with ASC 718. The fair value of stock-based awards is amortized over the vesting period of the award.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 34.1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Stock Options</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company granted stock options to purchase <span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20260101__20260630__srt--TitleOfIndividualAxis__custom--EmployeesMember_zMRBdinPO6yf" title="Stock options, granted">42,500</span> shares of common stock to employees and board members during the six months ended June 30, 2026. The fair value of the stock options granted during the six months ended June 30, 2026, was approximately $<span id="xdx_90D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedInPeriodFairValue_pn5n6_c20260101__20260630_zh4c2aSBDtf9" title="Fair value of the stock options granted">0.1</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model. The below assumptions for the risk-free interest rates, expected dividend yield, expected lives and expected stock price volatility were utilized for the stock options granted during six months ended June 30, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p id="xdx_899_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zblN7GI4Nhth" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BF_zfHvddPv2hFj" style="display: none">Schedule of Fair Value Assumptions</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: justify">Assumptions for Option Grants</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">Stock Price Volatility</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20260101__20260630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--EmployeeStockMember_z4zoKAj7TK98" title="Stock Price Volatility">66.24</span></td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Risk-Free Interest Rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20260101__20260630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--EmployeeStockMember_zJfHltrJkbth" title="Risk-Free Interest Rates">3.93</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Expected Life (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20260101__20260630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--EmployeeStockMember_z6ywko3ASRHg" title="Expected Life (in years)">6.25</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Expected Dividend Yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20260101__20260630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--EmployeeStockMember_z6yMx1G2MTp" title="Expected Dividend Yield">0.0</span></td><td style="text-align: left">%</td></tr> </table> <p id="xdx_8A5_zvTha1lUiAtd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company granted stock options to purchase <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20250101__20250630__srt--TitleOfIndividualAxis__custom--EmployeesMember_zL9Dxmq38Ykg" title="Stock options, granted">205,075</span> shares of common stock to employees and board members during the six months ended June 30, 2025. Of the stock options granted in the six months ended June 30, 2025, <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_c20250101__20250630__srt--TitleOfIndividualAxis__custom--EmployeesMember_zZsGp5t6kqRc" title="Stock options, vested">146,114</span> are stock options with service based vesting conditions and, as such, are being expensed over the respective service period. The remaining <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20260630__srt--TitleOfIndividualAxis__custom--EmployeeMember_zo2dhD0mPdR6" title="Share based compensation, grant">58,961</span> stock options contain a performance condition that is not probable and therefore have no expense recognized as of June 30, 2026. The fair value of the stock options granted during the six months ended June 30, 2025, was approximately $<span id="xdx_90A_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedInPeriodFairValue_pn5n6_c20250101__20250630_zUde3hxba4rc" title="Fair value of the stock options granted">0.2</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock-based compensation expense related to stock options was approximately $<span id="xdx_908_eus-gaap--AllocatedShareBasedCompensationExpense_c20260401__20260630__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zBUqbGPAaGq5" title="Stock-based compensation expense">59,000</span> and $<span id="xdx_905_eus-gaap--AllocatedShareBasedCompensationExpense_c20250401__20250630__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zPfgShA6IoC4" title="Stock-based compensation expense">71,000</span> for the three months ended June 30, 2026 and 2025, respectively. For the three months ended June 30, 2026, approximately $<span id="xdx_90B_eus-gaap--AllocatedShareBasedCompensationExpense_pp0p0_c20260401__20260630__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember__us-gaap--StatementOfIncomeLocationBalanceAxis__us-gaap--SellingGeneralAndAdministrativeExpense_zRhikV3PbH8g" title="Stock-based compensation expense">56,000</span> and $<span id="xdx_907_eus-gaap--AllocatedShareBasedCompensationExpense_pp0p0_c20260401__20260630__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember__us-gaap--StatementOfIncomeLocationBalanceAxis__us-gaap--ResearchAndDevelopmentExpense_zmxaGcfEPVy5" title="Stock-based compensation expense">3,000</span> are included in selling, general and administrative expenses and research and development expenses, respectively, on the accompanying condensed statement of operations. For the three months ended June 30, 2025, approximately $<span id="xdx_90A_eus-gaap--AllocatedShareBasedCompensationExpense_pp0p0_c20250401__20250630__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember__us-gaap--StatementOfIncomeLocationBalanceAxis__us-gaap--SellingGeneralAndAdministrativeExpense_zA2HMvNlhNlh" title="Stock-based compensation expense">68,000</span> and $<span id="xdx_90F_eus-gaap--AllocatedShareBasedCompensationExpense_pp0p0_c20250401__20250630__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember__us-gaap--StatementOfIncomeLocationBalanceAxis__us-gaap--ResearchAndDevelopmentExpense_zG7809kQFv02" title="Stock-based compensation expense">3,000</span> are included in selling, general and administrative expenses and research and development expenses, respectively, on the accompanying condensed statement of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock-based compensation expense related to stock options was $<span id="xdx_902_eus-gaap--AllocatedShareBasedCompensationExpense_pp0p0_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zIC5pc3oaB0b" title="Stock-based compensation expense">117,000</span> and $<span id="xdx_905_eus-gaap--AllocatedShareBasedCompensationExpense_pp0p0_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zT7GLFtHNSWg" title="Stock-based compensation expense">137,000</span> for the six months ended June 30, 2026 and 2025, respectively. For the six months ended June 30, 2026, approximately $<span id="xdx_90C_eus-gaap--AllocatedShareBasedCompensationExpense_pp0p0_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember__us-gaap--StatementOfIncomeLocationBalanceAxis__us-gaap--SellingGeneralAndAdministrativeExpense_zyqcQ7qgTNe3" title="Stock-based compensation expense">112,000</span> and $<span id="xdx_90D_eus-gaap--AllocatedShareBasedCompensationExpense_pp0p0_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember__us-gaap--StatementOfIncomeLocationBalanceAxis__us-gaap--ResearchAndDevelopmentExpense_zBkTKYTqqwh2" title="Stock-based compensation expense">5,000</span> are included in selling, general and administrative expenses and research and development expenses, respectively, on the accompanying condensed statement of operations. For the six months ended June 30, 2025, approximately $<span id="xdx_905_eus-gaap--AllocatedShareBasedCompensationExpense_pp0p0_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember__us-gaap--StatementOfIncomeLocationBalanceAxis__us-gaap--SellingGeneralAndAdministrativeExpense_zCtXSrURNWth" title="Stock-based compensation expense">132,000</span> and $<span id="xdx_90C_eus-gaap--AllocatedShareBasedCompensationExpense_pp0p0_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember__us-gaap--StatementOfIncomeLocationBalanceAxis__us-gaap--ResearchAndDevelopmentExpense_zMUXjsRHsl2k" title="Stock-based compensation expense">5,000</span> are included in selling, general and administrative expenses and research and development expenses, respectively, on the accompanying condensed statement of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2026, there was $<span id="xdx_90D_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions_iI_pp0p0_c20260630_zpXFd197wngj" title="Unrecognized compensation expense">346,000</span> of total unrecognized compensation expense related to unvested stock-based awards granted under the equity compensation plans, which will be amortized over the weighted average remaining requisite service period of <span id="xdx_901_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20260101__20260630_zN3gTtDo9cEj" title="Unrecognized compensation expense, period for recognition">2.1</span> years. This does not include approximately $<span id="xdx_90C_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_c20260630_z35oxvnfVOXe" title="Unrecognized compensation">60,000</span> of unrecognized compensation related to the vesting conditions of <span id="xdx_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_c20260101__20260630_zBrUriJPmLA8" title="Shares vested">58,961</span> options that are not probable to be achieved as of June 30, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Restricted Stock</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 31.9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total stock-based compensation expense for restricted stock on the Company’s condensed statement of operations was approximately $<span id="xdx_909_eus-gaap--AllocatedShareBasedCompensationExpense_c20260401__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zzVKg1unmtS7" title="Allocated share based compensation expense">2,000</span> and <span id="xdx_906_eus-gaap--AllocatedShareBasedCompensationExpense_dc_c20250401__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zVRknmzSMhR3" title="Allocated share based compensation expense">zero</span> for the three months ended June 30, 2026 and 2025, respectively, which was included in selling, general and administrative expenses in the accompanying statement of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total stock-based compensation expense for restricted stock was approximately $<span id="xdx_90E_eus-gaap--AllocatedShareBasedCompensationExpense_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zaWFPNjEB2G7" title="Allocated share based compensation expense">4,000</span> and $<span id="xdx_90E_eus-gaap--AllocatedShareBasedCompensationExpense_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zVuoXLazGyP6" title="Allocated share based compensation expense">10,000</span> for the six months ended June 30, 2026, and 2025, respectively. During the six months ended June 30, 2026, <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember__srt--TitleOfIndividualAxis__custom--EmployeesMember_zquVZNBbPv26" title="Number of shares issued">7,184</span> shares of restricted stock were issued to board members related to services rendered during the year ended December 31, 2025 or the quarter ended March 31, 2026. As a result of the issuance of the <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember__srt--TitleOfIndividualAxis__custom--EmployeesMember_zJiUXOXYXmv8" title="Number of shares issued">7,184</span> shares of restricted stock, approximately $<span id="xdx_904_eus-gaap--StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zhM2GN6kZXcf" title="Restricted stock value">17,000</span> of expense previously in accrued expenses was reclassified to additional paid-in capital during the six months ended June 30, 2026. All restricted shares issued during the six months ended June 30, 2026 vested at issuance. During the six months ended June 30, 2025, <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember__srt--TitleOfIndividualAxis__custom--EmployeesMember_ziKGmrmd0ZQk" title="Number of shares issued">55,659</span> shares of restricted stock were issued to board members related to services rendered during the year ended December 31, 2024. As a result of the issuance of the <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zNbMUoGACQtj" title="Number of shares issued">55,659</span> shares of restricted stock, approximately $<span id="xdx_902_eus-gaap--StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures_c20250101__20250630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zImwrVh1jsZi" title="Restricted stock value">72,000</span> of expense previously in accrued expenses was reclassified to additional paid-in capital during the during the six months ended June 30, 2025. All restricted shares issued during the six months ended June 30, 2025, vested at issuance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2026, there was <span id="xdx_904_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_do_c20260630__us-gaap--AwardTypeAxis__custom--UnvestedRestrictedStockMember_zPuNko7poWHa" title="Unrecognized compensation expense">no</span> unrecognized compensation expense related to unvested stock-based awards granted under the equity compensation plans.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> 42500 100000 <p id="xdx_899_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zblN7GI4Nhth" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BF_zfHvddPv2hFj" style="display: none">Schedule of Fair Value Assumptions</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: justify">Assumptions for Option Grants</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">Stock Price Volatility</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20260101__20260630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--EmployeeStockMember_z4zoKAj7TK98" title="Stock Price Volatility">66.24</span></td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Risk-Free Interest Rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20260101__20260630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--EmployeeStockMember_zJfHltrJkbth" title="Risk-Free Interest Rates">3.93</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Expected Life (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20260101__20260630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--EmployeeStockMember_z6ywko3ASRHg" title="Expected Life (in years)">6.25</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Expected Dividend Yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20260101__20260630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--EmployeeStockMember_z6yMx1G2MTp" title="Expected Dividend Yield">0.0</span></td><td style="text-align: left">%</td></tr> </table> 0.6624 0.0393 P6Y3M 0.000 205075 146114 58961 200000 59000 71000 56000 3000 68000 3000 117000 137000 112000 5000 132000 5000 346000 P2Y1M6D 60000 58961 2000 0 4000 10000 7184 7184 17000 55659 55659 72000 0 <p id="xdx_809_eus-gaap--SegmentReportingDisclosureTextBlock_zvX5lyZwCLR8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 10 – <span id="xdx_829_zM0PHzzZCZr9">Segment Information</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company operates in <span id="xdx_902_eus-gaap--NumberOfOperatingSegments_dc_uSegment_c20260101__20260630__us-gaap--StatementBusinessSegmentsAxis__custom--SingleReportableSegmentMember_zE5pUmdpTs71" title="Number of operating segment">one</span> operating segment, and therefore <span id="xdx_901_eus-gaap--NumberOfReportableSegments_dc_uSegment_c20260101__20260630__us-gaap--StatementBusinessSegmentsAxis__custom--SingleReportableSegmentMember_z1XlGZKcq1E" title="Number of reportable segment">one</span> reportable segment, focused on the development and sale of high-performance water solutions to the medical and commercial markets. The Company manages business activities on a basis primarily through the development and commercialization of water filtration products, which are sold to U.S. and international customers.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accounting policies for the Company’s single operating segment are the same as those described in the summary of significant accounting policies. The Company’s Chief Executive Officer is the Chief Operating Decision Maker (“CODM”). The CODM manages the Company’s business activities as a single operating and reportable segment. Accordingly, our CODM uses net income (loss) to measure segment profit or loss, allocate resources, and assess performance. The measure of segment assets is reported on the balance sheet as total assets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_891_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zdJJQDU2Bpak" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following is a summary of the significant revenue and expense categories, and net income (loss) provided to the CODM (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B7_zwrUCr3F5TU2" style="display: none">Schedule of Net Income (Loss) for Segment</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260401__20260630_z6NOXN8n4Eyk" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250401__20250630_zBs2hcRKRLyj" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260101__20260630_zDviEf6Gu4N9" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250101__20250630_zW4CoB71CRwb" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Three Months Ended June 30,</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Six Months Ended June 30,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40B_eus-gaap--RevenuesAbstract_iB_zkWLZol3p4p7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Net revenue:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_i01_pn3n3_hsrt--ProductOrServiceAxis__us-gaap--ProductMember_z0yBrJWoQvE5" style="vertical-align: bottom; background-color: White"> <td style="width: 36%; text-align: justify; padding-left: 10pt">Product revenues</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">5,701</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">4,311</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">10,741</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">9,017</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_i01_pn3n3_hsrt--ProductOrServiceAxis__custom--ServiceRoyaltyAndOtherRevenuesMember_z7YyJw76aPMj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt; padding-left: 10pt">Service, royalty, and other revenues</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">316</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">108</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">488</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">279</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_i01_pn3n3_maGPzXBC_z1DgNpQEEd96" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 20pt">Total net revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,017</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,419</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,229</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,296</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--CostOfGoodsAndServicesSold_pn3n3_msGPzXBC_z9rmPfZmZALj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td id="xdx_F4A_zrnyQ0ushyZb" style="text-align: justify; padding-bottom: 1pt">Cost of goods sold (1)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,991</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,624</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,210</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,347</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--GrossProfit_iT_pn3n3_mtGPzXBC_maOILzQ2K_zJCfVd6orIqi" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt; padding-left: 20pt">Gross Margin</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,026</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,795</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,019</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,949</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingExpensesAbstract_iB_zAA3cHw6EtXc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Operating expenses:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ResearchAndDevelopmentExpense_i01_pn3n3_maOEzGOE_zQ8Ho60X2gSh" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">366</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">311</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">712</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">606</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--SellingGeneralAndAdministrativeExpense_i01_pn3n3_maOEzGOE_zHBZ6KK5kz58" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Selling, general and administrative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,418</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,201</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,939</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,455</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OtherExpenses_i01_pn3n3_maOEzGOE_zi3qGvrFVo64" style="vertical-align: bottom; background-color: White"> <td id="xdx_F40_zpjxMH6vKkk8" style="text-align: justify; padding-bottom: 1pt; padding-left: 10pt">Other operating expenses (2)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">29</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">35</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">58</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">74</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OperatingExpenses_i01T_pn3n3_mtOEzGOE_msOILzQ2K_zZa5mH3NRFU4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt; padding-left: 20pt">Total operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,813</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,547</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,709</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,135</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingIncomeLoss_iT_pn3n3_mtOILzQ2K_maILFCOzo90_zm24E2HW498f" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Operating income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,213</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">248</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,310</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">814</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--NonoperatingIncomeExpense_pn3n3_maILFCOzo90_zEPYNb1sOTmb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Other expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">40</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(10</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_pn3n3_mtILFCOzKrP_maNILzhXT_zwi6sSvKDSLb" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Income before income taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,210</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">246</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,350</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">804</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--IncomeTaxExpenseBenefit_iN_pn3n3_di_msILFCOzo90_z10eSFm0jId2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Income tax expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(13</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(9</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(13</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(9</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_iT_pn3n3_mtILFCOzo90_zAApzWoVRDc1" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Net income</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,197</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">237</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,337</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">795</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span id="xdx_F00_ziEBk8gcer02" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F12_zvOSmedFyioc" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cost of goods sold for the three and six months ended June 30, 2026 includes a tariff refund benefit of approximately $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIGZvciBTZWdtZW50IChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_902_eus-gaap--CostOfGoodsAndServicesSoldDepreciation_pn3d_c20260401__20260630_z2ke4s7hwLCj" title="Cost of goods sold"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIGZvciBTZWdtZW50IChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_90E_eus-gaap--CostOfGoodsAndServicesSoldDepreciation_pn3d_c20260101__20260630_zXPpSLhkyWG8" title="Cost of goods sold">624,000</span></span>.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F05_zmbr8RhL9Gqg" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F13_zprwtMP8C7Rb" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other operating expenses is comprised of depreciation and amortization.</span></td></tr> </table> <p id="xdx_8A5_ztCn1Q9U4ks2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 1 1 <p id="xdx_891_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zdJJQDU2Bpak" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following is a summary of the significant revenue and expense categories, and net income (loss) provided to the CODM (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B7_zwrUCr3F5TU2" style="display: none">Schedule of Net Income (Loss) for Segment</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260401__20260630_z6NOXN8n4Eyk" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250401__20250630_zBs2hcRKRLyj" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260101__20260630_zDviEf6Gu4N9" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250101__20250630_zW4CoB71CRwb" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Three Months Ended June 30,</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Six Months Ended June 30,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40B_eus-gaap--RevenuesAbstract_iB_zkWLZol3p4p7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Net revenue:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_i01_pn3n3_hsrt--ProductOrServiceAxis__us-gaap--ProductMember_z0yBrJWoQvE5" style="vertical-align: bottom; background-color: White"> <td style="width: 36%; text-align: justify; padding-left: 10pt">Product revenues</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">5,701</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">4,311</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">10,741</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">9,017</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_i01_pn3n3_hsrt--ProductOrServiceAxis__custom--ServiceRoyaltyAndOtherRevenuesMember_z7YyJw76aPMj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt; padding-left: 10pt">Service, royalty, and other revenues</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">316</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">108</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">488</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">279</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_i01_pn3n3_maGPzXBC_z1DgNpQEEd96" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 20pt">Total net revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,017</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,419</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,229</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,296</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--CostOfGoodsAndServicesSold_pn3n3_msGPzXBC_z9rmPfZmZALj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td id="xdx_F4A_zrnyQ0ushyZb" style="text-align: justify; padding-bottom: 1pt">Cost of goods sold (1)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,991</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,624</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,210</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,347</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--GrossProfit_iT_pn3n3_mtGPzXBC_maOILzQ2K_zJCfVd6orIqi" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt; padding-left: 20pt">Gross Margin</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,026</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,795</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,019</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,949</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingExpensesAbstract_iB_zAA3cHw6EtXc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Operating expenses:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ResearchAndDevelopmentExpense_i01_pn3n3_maOEzGOE_zQ8Ho60X2gSh" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">366</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">311</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">712</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">606</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--SellingGeneralAndAdministrativeExpense_i01_pn3n3_maOEzGOE_zHBZ6KK5kz58" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Selling, general and administrative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,418</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,201</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,939</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,455</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OtherExpenses_i01_pn3n3_maOEzGOE_zi3qGvrFVo64" style="vertical-align: bottom; background-color: White"> <td id="xdx_F40_zpjxMH6vKkk8" style="text-align: justify; padding-bottom: 1pt; padding-left: 10pt">Other operating expenses (2)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">29</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">35</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">58</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">74</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OperatingExpenses_i01T_pn3n3_mtOEzGOE_msOILzQ2K_zZa5mH3NRFU4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt; padding-left: 20pt">Total operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,813</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,547</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,709</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,135</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingIncomeLoss_iT_pn3n3_mtOILzQ2K_maILFCOzo90_zm24E2HW498f" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Operating income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,213</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">248</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,310</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">814</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--NonoperatingIncomeExpense_pn3n3_maILFCOzo90_zEPYNb1sOTmb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Other expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">40</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(10</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_pn3n3_mtILFCOzKrP_maNILzhXT_zwi6sSvKDSLb" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Income before income taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,210</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">246</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,350</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">804</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--IncomeTaxExpenseBenefit_iN_pn3n3_di_msILFCOzo90_z10eSFm0jId2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Income tax expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(13</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(9</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(13</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(9</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_iT_pn3n3_mtILFCOzo90_zAApzWoVRDc1" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Net income</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,197</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">237</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,337</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">795</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span id="xdx_F00_ziEBk8gcer02" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F12_zvOSmedFyioc" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cost of goods sold for the three and six months ended June 30, 2026 includes a tariff refund benefit of approximately $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIGZvciBTZWdtZW50IChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_902_eus-gaap--CostOfGoodsAndServicesSoldDepreciation_pn3d_c20260401__20260630_z2ke4s7hwLCj" title="Cost of goods sold"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5ldCBJbmNvbWUgKExvc3MpIGZvciBTZWdtZW50IChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_90E_eus-gaap--CostOfGoodsAndServicesSoldDepreciation_pn3d_c20260101__20260630_zXPpSLhkyWG8" title="Cost of goods sold">624,000</span></span>.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F05_zmbr8RhL9Gqg" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F13_zprwtMP8C7Rb" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other operating expenses is comprised of depreciation and amortization.</span></td></tr> </table> 5701000 4311000 10741000 9017000 316000 108000 488000 279000 6017000 4419000 11229000 9296000 1991000 1624000 4210000 3347000 4026000 2795000 7019000 5949000 366000 311000 712000 606000 2418000 2201000 4939000 4455000 29000 35000 58000 74000 2813000 2547000 5709000 5135000 1213000 248000 1310000 814000 -3000 -2000 40000 -10000 1210000 246000 1350000 804000 13000 9000 13000 9000 1197000 237000 1337000 795000 624000 624000 <p id="xdx_80D_eus-gaap--EarningsPerShareTextBlock_zhugDJmTAQJ5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 11 – <span id="xdx_82F_zmH7KpKmx3ei">Net Income per Common Share</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic income per common share is calculated by dividing net income available to common shareholders by the number of weighted average common shares issued and outstanding. Diluted income per common share is calculated by dividing net income available to common shareholders by the weighted average number of common shares issued and outstanding for the period, plus amounts representing the dilutive effect from the exercise of stock options and warrants and unvested restricted stock, as applicable. The Company calculates dilutive potential common shares using the treasury stock method, which assumes the Company will use the proceeds from the exercise of stock options and warrants to repurchase shares of common stock to hold in its treasury stock reserves.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89F_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zGDgYzF8myWg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A reconciliation of the Company’s basic and diluted income per common share is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B4_znxnJCPm4cBj" style="display: none">Schedule of Basic and Diluted Income (Loss) Per Common Share</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">(In thousands, except share and per share data)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20260401__20260630_zpEbpTtoqQw4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20250401__20250630_zlPzOrhdKpWh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20260101__20260630_z58V0ssSpNl6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250101__20250630_zVTdtuiXjmyj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Three Months Ended</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30,</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Six Months Ended </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30,</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">(In thousands, except share and per share data)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Numerator:</td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr id="xdx_400_eus-gaap--NetIncomeLoss_pn3n3_zpiEEirjLvJd" style="vertical-align: bottom; background-color: White"> <td style="width: 36%; text-align: left">Net income</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,197</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">237</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,337</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">795</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_zlk542ShCw78" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Basic weighted average common shares outstanding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,856,541</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,600,409</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,754,248</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,600,379</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_pid_zs2dcdwbfTg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Effect of potentially dilutive options</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">256,130</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">212,619</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">291,775</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">91,502</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_zUoi9qYVZSWh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Diluted weighted average common shares outstanding</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">11,112,671</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">10,813,028</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">11,046,023</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">10,691,881</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Income per common share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--EarningsPerShareBasic_pid_z4BolsJxSPke" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Basic</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.11</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.02</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.12</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.07</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--EarningsPerShareDiluted_pid_z7DREw5tRv36" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Diluted</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.11</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.02</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.12</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.07</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8AB_zJA2QXvTKz92" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89C_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zraPSKJf7A8h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following potentially dilutive securities have been excluded from the computations of diluted weighted average shares outstanding as they would be antidilutive:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B2_zXCccv8iu0Q5" style="display: none">Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share</span></span></span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Shares underlying options outstanding</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20260101__20260630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zZkNMfdMvLji" style="width: 16%; text-align: right" title="Antidilutive securities excluded from computation of earnings per share">868,519</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20250101__20250630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zuoJu3YzxJc9" style="width: 16%; text-align: right" title="Antidilutive securities excluded from computation of earnings per share">1,333,896</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Unvested restricted stock</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20260101__20260630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--UnvestedRestrictedStockMember_z8mxPAWA4F79" style="text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="-sec-ix-hidden: xdx2ixbrl1097">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20250101__20250630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--UnvestedRestrictedStockMember_za3jusBvV46g" style="text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="-sec-ix-hidden: xdx2ixbrl1099">-</span></td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8AE_zE0AXImpZWMc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89F_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zGDgYzF8myWg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A reconciliation of the Company’s basic and diluted income per common share is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B4_znxnJCPm4cBj" style="display: none">Schedule of Basic and Diluted Income (Loss) Per Common Share</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">(In thousands, except share and per share data)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20260401__20260630_zpEbpTtoqQw4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20250401__20250630_zlPzOrhdKpWh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20260101__20260630_z58V0ssSpNl6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250101__20250630_zVTdtuiXjmyj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Three Months Ended</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30,</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Six Months Ended </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30,</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">(In thousands, except share and per share data)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Numerator:</td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr id="xdx_400_eus-gaap--NetIncomeLoss_pn3n3_zpiEEirjLvJd" style="vertical-align: bottom; background-color: White"> <td style="width: 36%; text-align: left">Net income</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,197</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">237</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,337</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">795</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_zlk542ShCw78" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Basic weighted average common shares outstanding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,856,541</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,600,409</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,754,248</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,600,379</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_pid_zs2dcdwbfTg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Effect of potentially dilutive options</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">256,130</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">212,619</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">291,775</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">91,502</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_zUoi9qYVZSWh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Diluted weighted average common shares outstanding</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">11,112,671</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">10,813,028</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">11,046,023</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">10,691,881</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Income per common share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--EarningsPerShareBasic_pid_z4BolsJxSPke" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Basic</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.11</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.02</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.12</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.07</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--EarningsPerShareDiluted_pid_z7DREw5tRv36" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Diluted</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.11</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.02</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.12</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.07</td><td style="text-align: left"> </td></tr> </table> 1197000 237000 1337000 795000 10856541 10600409 10754248 10600379 256130 212619 291775 91502 11112671 10813028 11046023 10691881 0.11 0.02 0.12 0.07 0.11 0.02 0.12 0.07 <p id="xdx_89C_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zraPSKJf7A8h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following potentially dilutive securities have been excluded from the computations of diluted weighted average shares outstanding as they would be antidilutive:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B2_zXCccv8iu0Q5" style="display: none">Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share</span></span></span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Shares underlying options outstanding</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20260101__20260630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zZkNMfdMvLji" style="width: 16%; text-align: right" title="Antidilutive securities excluded from computation of earnings per share">868,519</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20250101__20250630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zuoJu3YzxJc9" style="width: 16%; text-align: right" title="Antidilutive securities excluded from computation of earnings per share">1,333,896</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Unvested restricted stock</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20260101__20260630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--UnvestedRestrictedStockMember_z8mxPAWA4F79" style="text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="-sec-ix-hidden: xdx2ixbrl1097">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20250101__20250630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--UnvestedRestrictedStockMember_za3jusBvV46g" style="text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="-sec-ix-hidden: xdx2ixbrl1099">-</span></td><td style="text-align: left"> </td></tr> </table> 868519 1333896 <p id="xdx_809_eus-gaap--IncomeTaxDisclosureTextBlock_zs5hwTCSAQTe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 12 – <span id="xdx_825_z5umrWG0bNwe">Income Taxes</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our tax provision or benefit from income taxes for interim periods is determined using an estimate of our annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our quarterly tax provision, and our quarterly estimate of our annual effective tax rate, is subject to significant variation due to several factors, including variability in accurately predicting our pre-tax and taxable income and loss and the mix of jurisdictions to which they relate.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recorded income tax expense of approximately $<span id="xdx_900_eus-gaap--IncomeTaxExpenseBenefit_pp0p0_c20260401__20260630_zv8ntijgumm9" title="Income tax expense">13,000</span> and $<span id="xdx_904_eus-gaap--IncomeTaxExpenseBenefit_pp0p0_c20250401__20250630_zDBe4qwFKFwc" title="Income tax expense">9,000</span> for the three months ended June 30, 2026, and June 30, 2025 respectively, and approximately $<span id="xdx_906_eus-gaap--IncomeTaxExpenseBenefit_pp0p0_c20260101__20260630_zJSRzwTBXbH4" title="Income tax expense">13,000</span> and $<span id="xdx_90F_eus-gaap--IncomeTaxExpenseBenefit_pp0p0_c20250101__20250630_zuLKrjhpC0g7" title="Income tax expense">9,000</span> for the six months ended June 30,2026 and 2025, respectively. The Company’s effective tax rate for the six months ended June 30, 2026, and June 30, 2025 was approximately <span id="xdx_909_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_uPure_c20260101__20260630_zuAGmJhGiY7" title="Effective tax rate percentage">1.01</span>% and <span id="xdx_90F_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_uPure_c20250101__20250630_zfetnvfC4qH9" title="Effective tax rate percentage">1.08</span>%.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company continues to maintain a full valuation allowance against its deferred tax assets as management believes it is more likely than not that such assets will not be realized.</span></p> 13000 9000 13000 9000 0.0101 0.0108 false false false false Cost of goods sold for the three and six months ended June 30, 2026 includes a tariff refund benefit of approximately $624,000. Other operating expenses is comprised of depreciation and amortization.