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Note 17 - Lease Commitments | 12 Months Ended
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Dec. 31, 2025
Notes to Financial Statements |
Lessee, Operating Leases and Finance Leases [Text Block] | Note 17. Lease Commitments The Company’s leases consist primarily of leased property for manufacturing, warehouse, corporate offices and retail space as well as vehicle leases. At lease inception, the Company recognizes a lease right of use asset and lease liability calculated as the present value of future minimum lease payments. Some leases may require payment of other components such as taxes, insurance, maintenance and operating expenses. When payments related to these other components are considered fixed, they are included in the determination of the lease liability due to the Company’s election to combine lease and non-lease components and account for them as a single lease component. Otherwise, they are recognized as variable payments, along with variable payments not based on a rate or index, in the period in which the obligation for those payments is incurred. In general, the Company does not recognize renewal periods within the lease terms as there are no significant barriers to ending the lease at the initial term. Leases with an initial term of 12 months or less are not recorded on the balance sheet. Lease expense for these leases is recognized on a straight-line basis over the lease term. The components of lease expense consist of the following:
|  | For the year ended December 31, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
Operating lease cost |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales |  | $ | 473 |  |  | $ | 502 |  |  | $ | 507 |
Selling, general and administrative |  |  | 2,173 |  |  |  | 1,760 |  |  |  | 1,756 |
Variable lease cost |  |  | 944 |  |  |  | 1,091 |  |  |  | 1,161 |
Short-term lease cost |  |  | - |  |  |  | - |  |  |  | 24 |
Total |  | $ | 3,590 |  |  | $ | 3,353 |  |  | $ | 3,448 |
|  | For the year ended December 31, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
Financing lease cost |  |  |  |  |  |  |  |  |  |  |  |
Selling, general and administrative |  | $ | 1,554 |  |  | $ | 860 |  |  | $ | 1,164 |
Interest expense, net |  |  | 296 |  |  |  | 173 |  |  |  | - |
Variable lease cost |  |  | - |  |  | $ | 72 |  |  | $ | - |
Total |  | $ | 1,850 |  |  | $ | 1,105 |  |  | $ | 1,164 |
The Company's lease balances consist of the following:
|  | December 31, |  |  | December 31, |
|  | 2025 |  |  | 2024 |
Assets: |  |  |  |  |  |  |  |
Right of use assets - Operating |  | $ | 6,851 |  |  | $ | 8,338 |
Right of use assets - Financing |  |  | 7,629 |  |  |  | 3,272 |
Total lease assets |  | $ | 14,480 |  |  | $ | 11,610 |
Liabilities: |  |  |  |  |  |  |  |
Current lease liabilities - Operating (1) |  | $ | 2,111 |  |  | $ | 2,011 |
Current lease liabilities - Financing (1) |  |  | 2,530 |  |  |  | 1,110 |
Long-term lease liabilities - Operating |  |  | 5,652 |  |  |  | 7,400 |
Long-term lease liabilities - Financing |  |  | 5,056 |  |  |  | 2,149 |
Total lease liabilities |  | $ | 15,349 |  |  | $ | 12,670 |
(1) | Reported within accrued liabilities on the balance sheet
Other information related to the Company's leases consists of the following:
|  | December 31, |  |  | December 31, |
|  | 2025 |  |  | 2024 |
Right of use assets obtained in exchange for lease obligations: |  |  |  |  |  |  |  |
Operating leases |  | $ | 956 |  |  | $ | 1,209 |
Finance leases |  | $ | 5,907 |  |  | $ | 1,842 |
|  | As of December 31, |
|  | 2025 |  |  | 2024 |
Weighted-average remaining lease term - operating leases (years) |  |  | 4.2 |  |  |  | 4.8 |
Weighted-average discount rate - operating leases |  |  | 5.86 | % |  |  | 5.65 | %
Weighted-average remaining lease term - financing leases (years) |  |  | 3.3 |  |  |  | 3.1 |
Weighted-average discount rate - financing leases |  |  | 6.53 | % |  |  | 6.64 | %
Nearly all the lease contracts for the Company do not provide a readily determinable implicit rate. For these contracts, the Company uses a discount rate that approximates its incremental borrowing rate at the time of the lease commencement. The following table illustrates the Company's future minimum rental payments for non-cancelable leases as of December 31, 2025:
Year |  | Operating |  |  | Finance |
2026 |  | $ | 2,511 |  |  | $ | 2,948 |
2027 |  |  | 2,467 |  |  |  | 2,500 |
2028 |  |  | 1,158 |  |  |  | 1,887 |
2029 |  |  | 1,159 |  |  |  | 1,080 |
2030 |  |  | 1,185 |  |  |  | - |
Years thereafter |  |  | 427 |  |  |  | - |
Total lease payments |  |  | 8,907 |  |  |  | 8,415 |
Less: Imputed interest |  |  | 1,144 |  |  |  | 829 |
Present value of lease liabilities |  | $ | 7,763 |  |  | $ | 7,586 |

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