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Note 6 - Leases

12 Months Ended

Dec. 31, 2024

Lessee, Operating and Finance Leases [Text Block]

Note 6 – Leases

The Company is currently a lessee under a number of operating leases and finance leases for certain offices, manufacturing facilities, land, office equipment and automobiles, none of which are material to its operations. The Company’s leases generally have remaining lease terms of 1 year to 5 years, some of which include options to extend the leases for up to 5 years, and some of which include options to terminate the leases within one year. The Company entered into 20 year lease agreement for a commercial and industrial building in Lenexa, Kansas to replace its existing building in 2023. These leases do not have significant rent escalation holidays, concessions, leasehold improvement incentives, or other build-out clauses. Further, the leases do not contain contingent rent provisions.

Supplemental information related to leases and the Company’s Consolidated Financial Statements is as follows:

	2024		2023
Components of lease costs:
Operating lease costs	$	2,385	$	1,829
Short-term lease costs		1,089		897
Finance lease costs		141		131
Total lease costs	$	3,615	$	2,857

	2024			2023
Weighted average remaining lease term (years):
Operating leases		12.7			12.5
Finance leases		4.0			3.4
Weighted average discount rate:
Operating leases		7.62	%		7.48	%
Finance leases		3.25	%		3.25	%

	December 31, 2024
	Operating Leases		Financing Leases		Total Leases

Other assets - right-of-use assets	$	18,998	$	490	$	19,488
Lease liabilities included in:
Accrued expenses - current portion of lease liabilities	$	1,190	$	120	$	1,310
Other long-term liabiltiies - non-current portion of lease liabilities		18,780		380		19,160
Total lease liabilities	$	19,970	$	500	$	20,470

	December 31, 2023
	Operating Leases		Financing Leases		Total Leases
Other assets - right-of-use assets	$	20,126	$	110	$	20,236
Lease liabilities included in:
Accrued expenses - current portion of lease liabilities	$	960	$	60	$	1,020
Other long-term liabiltiies - non-current portion of lease liabilities		19,750		60		19,810
Total lease liabilities	$	20,710	$	120	$	20,830

Maturities of lease liabilities as of December 31, are as follows:

	2024				2023
2025	$	2,774		2024	$	2,501
2026		2,536		2025		2,261
2027		1,996		2026		2,969
2028		1,919		2027		1,691
2029		1,709		2028		1,639
Thereafter		27,828		Thereafter		29,491
Total lease payments		38,762		Total lease payments		40,552
Less: Interest		(18,292	)	Less: Interest		(19,722	)
Present value of lease liabilities	$	20,470		Present value of lease liabilities	$	20,830