Related Party Transactions |
9 Months Ended |
|---|---|
Sep. 30, 2026 | |
| Related Party Transactions | |
| Related Party Transactions | Note 10 – Related Party Transactions
During the three and nine months ended September 30, 2026, the Company entered into transactions with a related party, Neovia Logistics Services, LLC (“Neovia”). Neovia is considered a related party because its Chief Executive Officer is an independent director on the Company’s board of directors. The transactions consisted of outsourced warehouse management and inventory consulting services. Neovia has managed the Company’s Round Rock, Texas warehouse since May 1, 2026 and has managed the warehousing portion of the Company’s Georgetown, Texas integration facility since September 1, 2026. The services in Round Rock are contracted to continue through the end of that lease on March 31, 2029, and in our Georgetown integration facility through August 31, 2029. For the three and nine-month periods ended September 30, 2026, expenses recognized related to these transactions totaled approximately $1.1 million and $1.6 million, respectively, and are included in Company’s cost of revenues. As of September 30, 2026, amounts due to the related party were $0.5 million and are included in accounts payable. No related party transactions were present, nor any amounts due to or from related parties, in the comparable prior year periods. |