v3.26.3
Leases (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2026
Dec. 31, 2025
Leases [Abstract]    
Schedule of Lease Cost

The components of lease cost under ASC 842 are as follows for the below periods (in thousands):

 

Nine Months Ended
September 30,

   

2026

 

2025

Finance lease cost:

 

 

   

 

 

Amortization of finance lease right-of-use asset

 

$

90

 

$

109

Interest on finance lease liabilities

 

$

68

 

 

74

Operating lease costs:

 

 

   

 

 

Lease cost

 

$

339

 

 

286

Variable lease cost

 

$

—

 

 

 

Total lease cost

 

$

497

 

$

469

Supplemental disclosure of cash flow information related to leases are as follows for the below periods (in thousands):

 

Nine Months Ended
September 30,

   

2026

 

2025

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

(147

)

 

$

114

Operating cash flows from finance leases

 

$

68

 

 

$

92

Financing cash flows from finance leases

 

$

399

 

 

$

362

The weighted-average remaining lease term and discount rate were as follows for the below periods:

 

Nine Months Ended
September 30,

   

2026

 

2025

Weighted-average remaining lease term

   

 

   

 

Finance leases

 

2.5 years

 

 

3 years

 

Operating leases

 

8.8 years

 

 

10.3 years

 

Weighted-average discount rate

   

 

   

 

Finance leases

 

17.7

%

 

11.9

%

Operating leases

 

15.7

%

 

15.3

%

The components of lease cost under ASC 842 are as follows for the below periods (in thousands):

 

Year Ended December 31,

   

2025

 

2024

Finance lease cost:

 

 

   

 

 

Amortization of finance lease right-of-use asset

 

$

211

 

$

221

Interest on finance lease liabilities

 

 

114

 

 

149

Operating lease costs:

 

 

   

 

 

Lease cost

 

 

310

 

 

192

Variable lease cost

 

 

174

 

 

167

Total lease cost

 

 

809

 

$

729

Supplemental disclosure of cash flow information related to leases are as follows for the below periods (in thousands):

 

Year Ended December 31,

   

2025

 

2024

Cash paid for amounts included in the measurement of lease liabilities:

 

 

   

 

 

Operating cash flows from operating leases

 

$

139

 

$

191

Operating cash flows from finance leases

 

$

114

 

$

149

Financing cash flows from finance leases

 

$

653

 

$

471

The weighted-average remaining lease term and discount rate were as follows for the below periods:

 

Year Ended December 31,

   

2025

 

2024

Weighted-average remaining lease term

   

 

   

 

Finance leases

 

2.2 years

 

 

2.6 years

 

Operating leases

 

10.2 years

 

 

1.0 years

 

Weighted-average discount rate

   

 

   

 

Finance leases

 

12.5

%

 

11.9

%

Operating leases

 

15.3

%

 

11.6

%

Schedule of Minimum Lease Payments of Company’s Operating and Finance Lease Liabilities

The following table summarizes the minimum lease payments of the Company’s operating and finance lease liabilities as of September 30, 2026 (in thousands):

 

Operating

 

Finance

Remaining in 2026

 

$

118

 

 

 

142

 

2027

 

 

377

 

 

 

569

 

2028

 

 

491

 

 

 

544

 

2029

 

 

506

 

 

 

216

 

2030

 

 

422

 

 

 

—

 

Thereafter

 

 

2,359

 

 

 

—

 

Total future minimum lease payments

 

$

4,273

 

 

$

1,471

 

Less: imputed interest

 

 

(2,044

)

 

 

(292

)

Present value of lease liability

 

 

2,229

 

 

 

1,179

 

   

 

 

 

 

 

 

 

Current portion of lease liability

 

$

26

 

 

$

397

 

Non-current portion of lease liability

 

$

2,203

 

 

$

782

 

The following table summarizes the minimum lease payments of the Company’s operating and finance lease liabilities as of December 31, 2025 (in thousands):

 

Operating

 

Finance

2026

 

$

236

 

 

$

293

 

2027

 

 

369

 

 

 

381

 

2028

 

 

380

 

 

 

152

 

2029

 

 

391

 

 

 

—

 

2030

 

 

403

 

 

 

—

 

Thereafter

 

 

2,359

 

 

 

—

 

Total future minimum lease payments

 

$

4,138

 

 

$

826

 

Less: tenant improvement allowance

 

 

(389

)

 

 

—

 

Less: imputed interest

 

 

(2,170

)

 

 

(114

)

Present value of lease liability

 

 

1,579

 

 

 

712

 

   

 

 

 

 

 

 

 

Current portion of lease liability

 

$

24

 

 

$

223

 

Non-current portion of lease liability

 

$

1,555

 

 

$

489