Note 16 - Leases

6 Months Ended

Jun. 30, 2026

Lessee, Operating Leases and Finance Leases [Text Block]

NOTE 16: LEASES

The Company's lease portfolio primarily comprises operating leases for office space and finance leases for computer equipment and DOOH media assets from the acquisition of CDM. At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on whether the contract conveys the right to control the use of identified property or equipment for a period of time in exchange for consideration. Leases are classified as operating or finance leases at the commencement date of the lease. Leases may include one or more options to renew. We do not assume renewals in our determination of the lease term unless the renewals are deemed to be reasonably assured at lease commencement. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The Company determines the discount rate used to measure lease liabilities based on the rate implicit in the lease, if readily determinable. If the implicit rate is not available, the Company uses its incremental borrowing rate, which is determined based on the rate at which the Company could borrow on a collateralized basis over a similar term and in a similar economic environment to the lease.

The following table summarizes the classification of operating and finance lease assets and liabilities in the Company's condensed consolidated balance sheet:

	June 30,		December 31,
	2026		2025
Assets:
Finance lease assets	$	18,216	$	22,658
Operating lease assets		1,839		2,117
Total lease assets	$	20,055	$	24,775

Liabilities:
Operating lease liabilities:
Current portion of operating lease liabilities	$	607	$	596
Non-current portion of operating lease liabilities		1,353		1,673
Finance lease liabilities:
Current portion of finance lease liabilities		5,481		3,799
Non-current portion of finance lease liabilities		13,592		17,844
Total lease liabilities	$	21,033	$	23,912

The following table summarizes the operating and financing lease expenses in the Company's condensed consolidated statements of operations:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2026		2025		2026		2025
Operating lease expense	$	181	$	197	$	361	$	315
Finance lease expense:
Amortization of right-of-use assets		1,867		12		3,752		23
Interest on lease liabilities		413		1		857		3
Total lease expense	$	2,461	$	210	$	4,970	$	341

The following table provides lease term and discount rate information related to operating and finance leases:

	June 30,			December 31,
	2026			2025
Weighted average remaining lease term (years):
Operating leases		3.6			4.0
Finance leases		2.5			3.0

Weighted average discount rate:
Operating leases		8.2	%		8.2	%
Finance leases		8.0	%		8.0	%

The following sets forth future minimum lease payments:

	Operating			Finance			Total
	Leases			Leases			Leases
Future minimum payments:
Remainder of 2026	$	373		$	4,395		$	4,768
2027		676			7,951			8,627
2028		534			8,921			9,455
2029		337			197			534
2030		329			-			329
Total undiscounted cash flows		2,249			21,464			23,713
Less imputed interest		(289	)		(2,391	)		(2,680	)
Present value of lease liabilities	$	1,960		$	19,073		$	21,033

Supplemental cash flow information and non-cash activity related to leases include the following:

	For the Six Months Ended
	June 30,
	2026		2025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases	$	374	$	315
Operating cash flows paid for finance leases	$	857	$	-
Financing cash flows paid for finance leases	$	1,862	$	26