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Note 6 - Leases

9 Months Ended

Sep. 30, 2025

NOTE 6:

LEASES

The Company leases substantially all of its office space and vehicles under operating leases. The Company's leases have original lease periods expiring between 2025 and 2034. Many leases include one or more options to renew. The Company does not assume renewals in its determination of the lease term unless the renewals are deemed to be reasonably certain. Lease payments included in the measurement of the lease liability comprise the following: the fixed non-cancelable lease payments, payments for optional renewal periods where it is reasonably certain the renewal period will be exercised, and payments for early termination options unless it is reasonably certain the lease will not be terminated early.

The following is a summary of weighted average remaining lease terms and discount rates for all of the Company’s operating leases:

September 30,

2025

(Unaudited)

Weighted average remaining lease term (years)

4.98

Weighted average discount rates

3.74

Total operating lease cost and cash payments for operating leases were as follows:

	Nine months ended September 30,				Three months ended September 30,
	2025		2024		2025		2024
	(unaudited)		(unaudited)		(unaudited)		(unaudited)

Operating lease cost	$	2,163	$	2,053	$	737	$	696
Cash payments for operating leases		2,433		2,022		607		713

Maturities of lease liabilities are as follows:

The remainder of 2025	$	417
2026		1,117
2027		850
2028		478
2029		352
2030 and thereafter		901
Total undiscounted cash flows		4,115
Less imputed interest		337
Present value of lease liabilities	$	3,778

During March 2025, the Company signed an operating lease agreement for new offices in Israel, resulting in an additional lease commitment of approximately $9,900. As of September 30, 2025, the lease has not yet commenced. The lease is expected to commence during the fourth quarter of 2025, and will remain in effect until December 30, 2035, with an option to extend the lease for an additional period of up to 5 years, subject to the conditions of the lease agreement.