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| Leases | Leases Lessor - Operating Leases The Company’s Block 40 property is leased to tenants primarily under non-cancelable operating leases. Future minimum lease payments to be received under non-cancelable operating leases as of June 30, 2026 are as follows (in thousands):
The future minimum lease payments in the table above exclude tenant reimbursements of operating expenses, the amortization of above/below-market lease intangibles, and any optional renewal periods, unless the Company is reasonably certain to exercise such options at the commencement of the lease. Lessee - Operating Leases In January 2024, the Company acquired two leases as part of the Simplified Companies acquisition. Each lease was recognized and measured at fair value based on the remaining lease term at the date of acquisition by applying ASC 842, Leases. The office spaces for these leases are located in Lauderhill, Florida and Bonao, Dominican Republic. In 2024, the Company added a second call center location in La Vega, Dominican Republic. The Bonao, and La Vega contractual lease terms end in December 2026. The Lauderhill lease expired in June 2026 and was not renewed. The Company recorded operating lease expenses of $22 thousand and $19 thousand for the three months ended June 30, 2026 and 2025, respectively, and $35 thousand for both the six months ended June 30, 2026 and 2025. The following table presents the Company’s ROU assets and lease liabilities as of June 30, 2026, and December 31, 2025 (in thousands):
As of June 30, 2026, the following table reconciles the undiscounted cash flows for the following years and total of the remaining years to the operating lease obligation recorded in the condensed consolidated balance sheets, the future minimum annual lease payments under the operating leases were as follows (in thousands):
The weighted-average remaining lease term and discount rate related to the Company’s operating lease liabilities as of June 30, 2026 and December 31, 2025 are as follows:
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| Leases | Leases Lessor - Operating Leases The Company’s Block 40 property is leased to tenants primarily under non-cancelable operating leases. Future minimum lease payments to be received under non-cancelable operating leases as of June 30, 2026 are as follows (in thousands):
The future minimum lease payments in the table above exclude tenant reimbursements of operating expenses, the amortization of above/below-market lease intangibles, and any optional renewal periods, unless the Company is reasonably certain to exercise such options at the commencement of the lease. Lessee - Operating Leases In January 2024, the Company acquired two leases as part of the Simplified Companies acquisition. Each lease was recognized and measured at fair value based on the remaining lease term at the date of acquisition by applying ASC 842, Leases. The office spaces for these leases are located in Lauderhill, Florida and Bonao, Dominican Republic. In 2024, the Company added a second call center location in La Vega, Dominican Republic. The Bonao, and La Vega contractual lease terms end in December 2026. The Lauderhill lease expired in June 2026 and was not renewed. The Company recorded operating lease expenses of $22 thousand and $19 thousand for the three months ended June 30, 2026 and 2025, respectively, and $35 thousand for both the six months ended June 30, 2026 and 2025. The following table presents the Company’s ROU assets and lease liabilities as of June 30, 2026, and December 31, 2025 (in thousands):
As of June 30, 2026, the following table reconciles the undiscounted cash flows for the following years and total of the remaining years to the operating lease obligation recorded in the condensed consolidated balance sheets, the future minimum annual lease payments under the operating leases were as follows (in thousands):
The weighted-average remaining lease term and discount rate related to the Company’s operating lease liabilities as of June 30, 2026 and December 31, 2025 are as follows:
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