On May 8, 2026, the Company entered into the First Amendment to the lease agreement, which modified the contractual fixed base rent payments through August 2026 while the Company and the landlord continued to finalize the design and layout of the planned expansion space. The amendment also retroactively adjusted the rent due for the period from October 2025 through May 2026, which had previously been accrued as rent payable on the Company’s balance sheet.

Upon execution of the amendment, the Company paid the outstanding rent payable related to the prior periods, net of the discount provided under the amendment. Pursuant to the terms of the amendment, the discount is expected to be applied against the future rent abatement associated with the expansion space and may be required to be repaid to the landlord to the extent the discount exceeds the available expansion space rent abatement. As the ultimate amount of the discount that will be retained by the Company will not be determined until the expansion space arrangement is finalized, the Company has continued to recognize the discounted portion of $1,743 as a liability on its balance sheet.

The Company accounted for the amendment as a modification of the existing operating lease under ASC 842 and remeasured the operating lease liability using the revised contractual lease payments. The discount rate used in the remeasurement was 9.75%. The resulting remeasurement adjustment was recorded as a corresponding adjustment to the operating lease right-of-use asset.

The Company is obligated under operating leases only for building and office rentals. The leases require the Company to pay taxes, insurance, utilities, and maintenance costs. Total rent expense under these leases was $4,779 and $2,478 for the six months ended June 30, 2026 and 2025, respectively. These amounts are included in cost of sales and general and administrative expenses within the Company’s unaudited condensed consolidated statements of operations.

Future minimum annual commitments under these operating leases are as follows:

​

​

Expenses recognized under these leases for the six months ended June 30, 2026 and 2025 consist of the following:

​

​

9.Leases

The Company is obligated under operating leases only for building and office rentals. The leases require the Company to pay taxes, insurance, utilities, and maintenance costs. Total rent expense under these leases was $7,358 and $762 during the years ended December 31, 2025 and 2024, respectively, and are included in cost of sales and general and administrative expenses.

​

Future minimum annual commitments under these operating leases as of December 31, 2025 are as follows:

​

Expenses recognized under these leases for the years ended December 31, 2025 and 2024 consist of the following:

​

​