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Leases | 3 Months Ended
--- | ---
Mar. 31, 2026
Leases [Abstract] |
Leases | LEASES The Company has operating and finance leases for office, manufacturing and warehouse facilities and automobiles. The Company’s leases have remaining lease terms of less than two years to ten years. Options to renew or extend leases beyond their initial term have been excluded from measurement of the right-of-use (ROU) assets and lease liabilities as exercise is not reasonably certain. The weighted average remaining lease term and the discount rate for the reporting periods are as follows:
| March 31, 2026 |  | December 31, 2025
Operating Leases |  |  |  |  |
Weighted average remaining lease term (years) | 4.9 |  |  | 5.1 |
Weighted average discount rate | 7.0 | % |  | 7.0 | %
Finance Leases |  |  |  |  |
Weighted average remaining lease term (years) | 4.4 |  |  | 4.7 |
Weighted average discount rate | 7.0 | % |  | 7.0 | %
A letter of credit for $1,250 issued to the lessor of the Company's corporate headquarters building is renewed annually and remains outstanding as of March 31, 2026. The components of lease expense are as follows:
| Three Months Ended March 31, |  |
| 2026 |  | 2025 |  |  |  |
Operating lease cost | $ | 530 |  |  | $ | 466 |  |  |  |  |
Finance lease cost: |  |  |  |  |  |  |
Amortization of right-of-use assets | 262 |  |  | 262 |  |  |  |  |
Interest on lease liabilities | 126 |  |  | 147 |  |  |  |  |
Total finance lease cost | $ | 388 |  |  | $ | 409 |  |  |  |  |
Short-term lease expense was not significant for the three months ended March 31, 2026 and 2025. Supplemental cash flow information related to leases is as follows:
| Three Months Ended March 31, 2026 |  | Three Months Ended March 31, 2025
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows for operating leases | $ | 566 |  |  | $ | 538 |
Operating cash flows for finance leases | 126 |  |  | 147 |
Financing cash flows for finance leases | 316 |  |  | 287 |
Right-of-use assets and corresponding lease obligations related to new and modified lease agreements: |  |  |
Operating leases | $ | 60 |  |  | $ | 1,558 |
Finance leases | — |  |  | — |
Supplemental balance sheet information related to leases is as follows:
| March 31, 2026 |  | December 31, 2025
Operating Leases |  |  |
Operating lease right-of-use assets | $ | 6,448 |  |  | $ | 6,868 |
Other current liabilities | $ | 1,694 |  |  | $ | 1,734 |
Finance and operating lease liabilities | 5,156 |  |  | 5,541 |
Total operating lease liabilities | $ | 6,850 |  |  | $ | 7,275 |
Finance Leases |  |  |
Property and equipment, at cost | $ | 14,750 |  |  | $ | 14,765 |
Accumulated depreciation | (10,169) |  |  | (9,922) |
Property and equipment, net | $ | 4,581 |  |  | $ | 4,843 |
Other current liabilities | $ | 1,337 |  |  | $ | 1,306 |
Finance and operating lease liabilities | 5,628 |  |  | 5,975 |
Total finance lease liabilities | $ | 6,965 |  |  | $ | 7,281 |
Future maturities of lease liabilities as of March 31, 2026 are as follows:
| Operating Leases |  | Finance Leases
2026 (excluding the three months ended March 31, 2026) | $ | 1,391 |  |  | $ | 1,333 |
2027 | 1,905 |  |  | 1,808 |
2028 | 1,475 |  |  | 1,842 |
2029 | 1,072 |  |  | 1,818 |
2030 | 683 |  |  | 1,339 |
2031 and thereafter | 1,748 |  |  | — |
Total payments | $ | 8,274 |  |  | $ | 8,140 |
Less imputed interest | (1,424) |  |  | (1,175) |
Total | $ | 6,850 |  |  | $ | 6,965 |
Leases | LEASES The Company has operating and finance leases for office, manufacturing and warehouse facilities and automobiles. The Company’s leases have remaining lease terms of less than two years to ten years. Options to renew or extend leases beyond their initial term have been excluded from measurement of the right-of-use (ROU) assets and lease liabilities as exercise is not reasonably certain. The weighted average remaining lease term and the discount rate for the reporting periods are as follows:
| March 31, 2026 |  | December 31, 2025
Operating Leases |  |  |  |  |
Weighted average remaining lease term (years) | 4.9 |  |  | 5.1 |
Weighted average discount rate | 7.0 | % |  | 7.0 | %
Finance Leases |  |  |  |  |
Weighted average remaining lease term (years) | 4.4 |  |  | 4.7 |
Weighted average discount rate | 7.0 | % |  | 7.0 | %
A letter of credit for $1,250 issued to the lessor of the Company's corporate headquarters building is renewed annually and remains outstanding as of March 31, 2026. The components of lease expense are as follows:
| Three Months Ended March 31, |  |
| 2026 |  | 2025 |  |  |  |
Operating lease cost | $ | 530 |  |  | $ | 466 |  |  |  |  |
Finance lease cost: |  |  |  |  |  |  |
Amortization of right-of-use assets | 262 |  |  | 262 |  |  |  |  |
Interest on lease liabilities | 126 |  |  | 147 |  |  |  |  |
Total finance lease cost | $ | 388 |  |  | $ | 409 |  |  |  |  |
Short-term lease expense was not significant for the three months ended March 31, 2026 and 2025. Supplemental cash flow information related to leases is as follows:
| Three Months Ended March 31, 2026 |  | Three Months Ended March 31, 2025
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows for operating leases | $ | 566 |  |  | $ | 538 |
Operating cash flows for finance leases | 126 |  |  | 147 |
Financing cash flows for finance leases | 316 |  |  | 287 |
Right-of-use assets and corresponding lease obligations related to new and modified lease agreements: |  |  |
Operating leases | $ | 60 |  |  | $ | 1,558 |
Finance leases | — |  |  | — |
Supplemental balance sheet information related to leases is as follows:
| March 31, 2026 |  | December 31, 2025
Operating Leases |  |  |
Operating lease right-of-use assets | $ | 6,448 |  |  | $ | 6,868 |
Other current liabilities | $ | 1,694 |  |  | $ | 1,734 |
Finance and operating lease liabilities | 5,156 |  |  | 5,541 |
Total operating lease liabilities | $ | 6,850 |  |  | $ | 7,275 |
Finance Leases |  |  |
Property and equipment, at cost | $ | 14,750 |  |  | $ | 14,765 |
Accumulated depreciation | (10,169) |  |  | (9,922) |
Property and equipment, net | $ | 4,581 |  |  | $ | 4,843 |
Other current liabilities | $ | 1,337 |  |  | $ | 1,306 |
Finance and operating lease liabilities | 5,628 |  |  | 5,975 |
Total finance lease liabilities | $ | 6,965 |  |  | $ | 7,281 |
Future maturities of lease liabilities as of March 31, 2026 are as follows:
| Operating Leases |  | Finance Leases
2026 (excluding the three months ended March 31, 2026) | $ | 1,391 |  |  | $ | 1,333 |
2027 | 1,905 |  |  | 1,808 |
2028 | 1,475 |  |  | 1,842 |
2029 | 1,072 |  |  | 1,818 |
2030 | 683 |  |  | 1,339 |
2031 and thereafter | 1,748 |  |  | — |
Total payments | $ | 8,274 |  |  | $ | 8,140 |
Less imputed interest | (1,424) |  |  | (1,175) |
Total | $ | 6,850 |  |  | $ | 6,965 |

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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