v3.26.1
LEASES
6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
LEASES
NOTE 5. LEASES
Operating lease expense is recognized on a straight-line basis over the lease term within operating expenses in the Company’s unaudited condensed consolidated statements of operations and comprehensive income (loss). Finance lease expense is recognized over the lease term within interest expense in the unaudited condensed consolidated statements of operations and comprehensive income (loss).
Total operating and finance lease expense relates to lease costs and totaled $1.4 million and $2.7 million for the three and six months ended June 30, 2026, respectively, and $1.3 million and $2.5 million for the three and six months ended June 30, 2025, respectively.
Future minimum lease payments at June 30, 2026:
OperatingFinanceTotal
2026$2,171,188 $29,994 $2,201,182 
20274,685,445 4,999 4,690,444 
20283,052,829 — 3,052,829 
20291,412,413 — 1,412,413 
20301,206,653 — 1,206,653 
20312,672 — 2,672 
Total lease payments12,531,198 34,993 12,566,191 
Less: imputed interest(986,448)(1,060)(987,508)
Present value of lease liability$11,544,751 $33,933 $11,578,684 
LEASES
NOTE 5. LEASES
Operating lease expense is recognized on a straight-line basis over the lease term within operating expenses in the Company’s unaudited condensed consolidated statements of operations and comprehensive income (loss). Finance lease expense is recognized over the lease term within interest expense in the unaudited condensed consolidated statements of operations and comprehensive income (loss).
Total operating and finance lease expense relates to lease costs and totaled $1.4 million and $2.7 million for the three and six months ended June 30, 2026, respectively, and $1.3 million and $2.5 million for the three and six months ended June 30, 2025, respectively.
Future minimum lease payments at June 30, 2026:
OperatingFinanceTotal
2026$2,171,188 $29,994 $2,201,182 
20274,685,445 4,999 4,690,444 
20283,052,829 — 3,052,829 
20291,412,413 — 1,412,413 
20301,206,653 — 1,206,653 
20312,672 — 2,672 
Total lease payments12,531,198 34,993 12,566,191 
Less: imputed interest(986,448)(1,060)(987,508)
Present value of lease liability$11,544,751 $33,933 $11,578,684