v3.25.4
Right-of-Use Assets and Lease Liabilities
 12 Months Ended
Dec. 31, 2025
Right-of-Use Assets and Lease Liabilities [Abstract]  
Right-of-Use Assets and Lease Liabilities
7. Right-of-Use Assets and Lease Liabilities

 

The Company leases several facilities and data centers under non-cancelable operating leases. These leases have original lease periods expiring between 2026 and 2027. The lease agreements generally do not contain any material residual value guarantees or material restrictive covenants.

 

   As of December 31, 
       2025       2024 
       Accumulated       Accumulated 
   Cost   Amortization   Cost   Amortization 
Right-of-use assets  $5,229,708   $(3,361,250)  $4,109,922   $(2,356,822)
Net carrying value       $1,868,458        $1,753,100 

 

Operating lease costs for the years ended December 31, 2025 and 2024 were $1,392,053 and $1,175,186, respectively. These costs are included in general and administrative expenses in the consolidated statements of operations.

 

Supplemental balance sheet information related to the operating lease liabilities is as follows:

 

   As of December 31, 
   2025   2024 
Weighted-average remaining lease term   1.59 years    1.85 years 
Weighted-average incremental borrowing rate   11.51%   7.26%

 

The following shows the future minimum lease payments for the remaining years under the lease arrangements as of December 31, 2025:

 

2026  $1,426,242 
2027   627,394 
    2,053,636 
Less: imputed interest*   (139,064)
    1,914,572 
      
Current portion  $1,281,444 
Long-term portion  $633,128 

 

* Imputed interest represents the difference between undiscounted cash flows and cash flows