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Leases (Tables)
9 Months Ended
Sep. 30, 2025
Leases  
Schedule of lease cost

As of September 30, 2025, there were no additional significant operating leases that have not yet commenced. Refer to the following table for quantitative information related to the Company’s leases for the three and nine months ended September 30, 2025 and 2024 (dollars in thousands):

 

Three Months Ended September 30, 2025

 

Nine Months Ended September 30, 2025

 

 

Related Parties

Others

Total

 

Related Parties

Others

Total

 

Lease Cost

 

  

 

  

 

  

 

  

 

  

 

  

Capitalized operating lease cost

$

$

461

$

461

$

$

1,383

$

1,383

Short-term lease cost

 

420

 

148

 

568

 

1,260

 

444

 

1,704

Total lease cost

$

420

$

609

$

1,029

$

1,260

$

1,827

$

3,087

Other Information

 

  

 

  

 

  

 

  

 

  

 

  

Cash paid for amounts included in the measurement of lease liabilities and capitalized operating leases:

 

 

 

 

 

 

Operating cash flows

$

$

516

$

516

$

$

1,541

$

1,541

Weighted-average remaining lease term (in years):

 

  

 

  

 

  

Capitalized operating leases

1.47

1.47

Weighted-average discount rate:

Capitalized operating leases

%

4.33

%

4.33

%

 

Three Months Ended September 30, 2024

 

Nine Months Ended September 30, 2024

 

Related Parties

Others

Total

 

Related Parties

Others

Total

Lease Cost

 

  

 

  

 

  

 

  

 

  

 

  

Capitalized operating lease cost

$

$

501

$

501

$

$

1,445

$

1,445

Short-term lease cost

 

420

 

140

 

560

 

1,261

 

421

 

1,682

Total lease cost

$

420

$

641

$

1,061

$

1,261

$

1,866

$

3,127

Other Information

 

  

 

  

 

  

 

  

 

  

 

  

Cash paid for amounts included in the measurement of lease liabilities and capitalized operating leases:

 

 

 

 

 

 

Operating cash flows

$

$

550

$

550

$

$

1,527

$

1,527

Weighted-average remaining lease term (in years):

 

  

 

  

 

  

 

  

 

  

 

  

Capitalized operating leases

2.22

2.22

Weighted-average discount rate:

Capitalized operating leases

%

4.27

%

4.27

%

Schedule of future lease payments on capitalized operating leases

As of September 30, 2025, future lease payments over the remaining term of capitalized operating leases were as follows (in thousands):

For the Years Ended December 31, 

2025, excluding the nine months ended September 30, 2025

$

521

2026

 

1,205

2027

 

237

2028

 

161

2029

Thereafter

2,124

Imputed interest

(63)

Lease liability balance at September 30, 2025

$

2,061