v3.26.1
LEASES (Tables)
6 Months Ended
Jun. 30, 2026
Leases  
SUMMARY OF OPERATING LEASE LIABILITIES

The following table provides a summary of the Company’s operating lease liabilities (in thousands):

 

   June 30, 2026   December 31, 2025 
         
Current operating lease liability  $1,280   $864 
Non-current operating lease liability   3,604    4,069 
Total operating lease liability  $4,884   $4,933 
SCHEDULE OF COMPONENTS OF LEASE COST

The following table provides a summary of the components of lease costs and rent (in thousands):

 

   2026   2025   2026   2025 
   For the three months ended June 30,   For the six months ended June 30, 
   2026   2025   2026   2025 
                 
Operating lease cost  $282   $380   $563   $752 
Variable lease cost   158    79    340    195 
Short-term lease cost   14    11    29    19 
Total operating lease costs  $454   $470   $932   $966 
SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES

Future minimum lease payments and obligations, which do not include short-term leases, related to the Company’s operating lease liabilities as of June 30, 2026 were as follows (in thousands):

 

Future minimum lease payments and obligations  Operating Leases 
     
2026, remainder  $633 
2027   1,295 
2028   1,325 
2029   1,357 
2030   1,387 
Total undiscounted operating lease payments   5,997 
Less: imputed interest   1,113 
Present value of operating lease liabilities  $4,884