12.  Leases

The Company leases facilities in the United States for its corporate and regional field offices. During the three and nine months ended June 30, 2026 and 2025, the Company was also a lessee/sublessor for certain office locations.

Commencing December 1, 2025, the Company leases office space in Garden City, New York. The lease is for $7 thousand per month, through  March 31, 2031. Commencing April 1, 2026, the Company expanded the office space in Garden City, New York. The expanded leases are for $15 thousand per month, through  March 31, 2031.

The Company maintains a sublease for its Rosemont, Illinois location. During the quarter ended March 31, 2025, the Company remeasured its operating lease liability for one of its sublet locations as a result of a change in the expected lease term in conjunction with the extension of the sublease. Such remeasurement resulted in an adjustment to the operating lease asset of less than $0.1 million, which approximated to the amount in which the operating lease liability was remeasured. The sublease is for $6 thousand a month and has a term through January 31, 2028.

The components of net lease costs were as follows:

Cash paid for amounts included in the measurement of lease liabilities was $120 thousand and $113 thousand for the nine months ended June 30, 2026 and 2025, all of which represents operating cash flows from operating leases. As of June 30, 2026, the weighted average remaining lease term was 4.5 years and the weighted average discount rate was 10.8%. 

At June 30, 2026, future minimum rental commitments under non-cancelable leases with initial or remaining terms in excess of one year were as follows: