XML 23 R13.htm IDEA: XBRL DOCUMENT
v3.25.3

Leases | 9 Months Ended
--- | ---
Sep. 30, 2025
Leases [Abstract] |
Leases | Leases The Company leases administrative, manufacturing, research, and distribution facilities through operating leases. Several leases include fixed payments, including rent and non-lease components such as common area or other maintenance costs. The components of total operating lease expense are as follows for the periods indicated:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Operating lease costs | $ | 919 |  |  | $ | 919 |  |  | $ | 2,749 |  |  | $ | 2,745 |
Short-term lease costs | 158 |  |  | 135 |  |  | 420 |  |  | 510 |
Variable lease costs | 65 |  |  | 129 |  |  | 113 |  |  | 418 |
Sublease income | (269) |  |  | — |  |  | (810) |  |  | — |
Total operating lease expense | $ | 873 |  |  | $ | 1,183 |  |  | $ | 2,472 |  |  | $ | 3,673 |
Supplemental balance sheet information related to the operating and financing leases is as follows as of the periods indicated:
(in thousands, except lease term and discount rate) | September 30, 2025 |  | December 31, 2024
Operating Leases |  |  |
Right-of-use operating assets | $ | 13,137 |  |  | $ | 14,265 |
Current maturities of long-term lease obligations | $ | 2,326 |  |  | $ | 1,960 |
Long-term lease obligations | $ | 17,393 |  |  | $ | 19,191 |
Financing Leases |  |  |
Right-of-use financing assets, net of accumulated amortization (1) | $ | 29 |  |  | $ | 37 |
Current maturities of long-term lease obligations | $ | 10 |  |  | $ | 9 |
Long-term lease obligations | $ | 23 |  |  | $ | 30 |
Weighted average operating lease term: | 8.3 years |  | 8.8 years
Weighted average financing lease term: | 2.7 years |  | 3.6 years
Weighted average discount rate - operating leases | 10.89% |  |  | 10.95% |
Weighted average discount rate - financing leases | 13.94% |  |  | 14.06% |
__________ (1)Financing leases are included in Property and equipment, net on the Condensed Consolidated Balance Sheets. Future minimum lease payments under operating and financing leases as of September 30, 2025 are as follows:
(in thousands) |
2025 (excluding the nine months ended September 30, 2025) | $ | 1,054 |
2026 | 4,284 |
2027 | 3,120 |
2028 | 3,119 |
2029 | 3,187 |
Thereafter | 15,385 |
Total | 30,149 |
Less: Imputed interest | (10,397) |
Total lease obligations | 19,752 |
Less: Current maturities of long-term lease obligations | (2,336) |
Long-term lease obligations | $ | 17,416 |
Lease Modifications The Company accounts for lease revisions as a lease modification in accordance with FASB Accounting Standards Codification (“ASC”) 842, L eases (“ASC 842”), when the modification effectively terminates the existing lease and creates a new lease. No lease modifications were recorded during the three and nine months ended September 30, 2025 and 2024. Sublease Agreements The Company subleases portions of its headquarters building in Tampa, Florida under two sublease agreements with different sublessees. The first sublease term began August 1, 2024 and expires on October 31, 2031. The Company or the sublessee can terminate the sublease agreement after sixty-three months with twelve months written notice. There is no option to extend the sublease agreement. The second sublease term began on February 1, 2025 and expires on January 31, 2030. The sublessee can terminate the sublease agreement after thirty-six months with six months written notice. The Company accounts for these subleases in accordance with ASC 842.
Leases | Leases The Company leases administrative, manufacturing, research, and distribution facilities through operating leases. Several leases include fixed payments, including rent and non-lease components such as common area or other maintenance costs. The components of total operating lease expense are as follows for the periods indicated:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Operating lease costs | $ | 919 |  |  | $ | 919 |  |  | $ | 2,749 |  |  | $ | 2,745 |
Short-term lease costs | 158 |  |  | 135 |  |  | 420 |  |  | 510 |
Variable lease costs | 65 |  |  | 129 |  |  | 113 |  |  | 418 |
Sublease income | (269) |  |  | — |  |  | (810) |  |  | — |
Total operating lease expense | $ | 873 |  |  | $ | 1,183 |  |  | $ | 2,472 |  |  | $ | 3,673 |
Supplemental balance sheet information related to the operating and financing leases is as follows as of the periods indicated:
(in thousands, except lease term and discount rate) | September 30, 2025 |  | December 31, 2024
Operating Leases |  |  |
Right-of-use operating assets | $ | 13,137 |  |  | $ | 14,265 |
Current maturities of long-term lease obligations | $ | 2,326 |  |  | $ | 1,960 |
Long-term lease obligations | $ | 17,393 |  |  | $ | 19,191 |
Financing Leases |  |  |
Right-of-use financing assets, net of accumulated amortization (1) | $ | 29 |  |  | $ | 37 |
Current maturities of long-term lease obligations | $ | 10 |  |  | $ | 9 |
Long-term lease obligations | $ | 23 |  |  | $ | 30 |
Weighted average operating lease term: | 8.3 years |  | 8.8 years
Weighted average financing lease term: | 2.7 years |  | 3.6 years
Weighted average discount rate - operating leases | 10.89% |  |  | 10.95% |
Weighted average discount rate - financing leases | 13.94% |  |  | 14.06% |
__________ (1)Financing leases are included in Property and equipment, net on the Condensed Consolidated Balance Sheets. Future minimum lease payments under operating and financing leases as of September 30, 2025 are as follows:
(in thousands) |
2025 (excluding the nine months ended September 30, 2025) | $ | 1,054 |
2026 | 4,284 |
2027 | 3,120 |
2028 | 3,119 |
2029 | 3,187 |
Thereafter | 15,385 |
Total | 30,149 |
Less: Imputed interest | (10,397) |
Total lease obligations | 19,752 |
Less: Current maturities of long-term lease obligations | (2,336) |
Long-term lease obligations | $ | 17,416 |
Lease Modifications The Company accounts for lease revisions as a lease modification in accordance with FASB Accounting Standards Codification (“ASC”) 842, L eases (“ASC 842”), when the modification effectively terminates the existing lease and creates a new lease. No lease modifications were recorded during the three and nine months ended September 30, 2025 and 2024. Sublease Agreements The Company subleases portions of its headquarters building in Tampa, Florida under two sublease agreements with different sublessees. The first sublease term began August 1, 2024 and expires on October 31, 2031. The Company or the sublessee can terminate the sublease agreement after sixty-three months with twelve months written notice. There is no option to extend the sublease agreement. The second sublease term began on February 1, 2025 and expires on January 31, 2030. The sublessee can terminate the sublease agreement after thirty-six months with six months written notice. The Company accounts for these subleases in accordance with ASC 842.

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_LesseeFinanceLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration