v3.26.3
Leases
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
LEASES
9. LEASES

 

Operating leases as lessee

 

As of June 30, 2026 and December 31, 2025, the Company had operating leases recorded on its consolidated balance sheets for certain office spaces and warehouses that expire on various dates through 2044. The Company terminated leases for certain facilities with lower usage, the termination of the leases reduced operating ROU assets of approximately $1.3 million and operating lease liabilities of approximately $0.4 million, respectively, during the six months ended June 30, 2026. The Company does not plan to cancel the remaining existing lease agreements for its existing facilities prior to their respective expiration dates. When determining the lease term, the Company considers options to extend or terminate the lease when it is reasonably certain that it will exercise or not exercise that option. The Company’s lease arrangements may contain both lease and non-lease components. The Company has separately accounted for lease and non-lease components based on their nature. Payments under the Company’s lease arrangement are fixed.

 

The following table shows ROU assets and lease liabilities, and the associated financial statement line items:

 

    As of
June 30,
2026		     As of
December 31,
2025		  
             
Assets            
Operating lease right-of-use assets, net   $ 8,943     $ 5,720  
                 
Liabilities                
Operating lease liabilities, current   $ 3,017     $ 2,669  
Operating lease liabilities, non-current   $ 5,599     $ 2,156  
                 
Weighted average remaining lease term (in years)     5.42       2.58  
Weighted average discount rate per annum (%)     5.82       5.84  

 

Information related to operating lease activities during the six months ended June 30, 2026 and 2025 is set forth follows:

 

   

For the Six Months Ended

June 30,

  
    2026     2025  
Operating lease right-of-use assets obtained in exchange for lease liabilities   $ 4,957     $ 233  
                 
Operating lease expense                
Amortization of operating lease right-of-use assets     1,954       2,121  
Interest of operating lease liabilities     234       245  
Total   $ 2,188     $ 2,366  

 

Maturities of lease liabilities were as follows:

 

Twelve months ending June 30,   Lease
Liabilities		  
2027   $ 3,106  
2028     2,036  
2029     1,007  
2030     928  
2031     635  
Thereafter     2,428  
Total lease payments     10,140  
Less: imputed interest     (1,524 )
Total   $ 8,616