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Lease Commitments | 9 Months Ended
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Sep. 26, 2025
Leases [Abstract] |
Lease Commitments | 5. Lease Commitments The Company has operating leases for office space and, to a much lesser extent, operating leases for equipment. The Company’s office leases are between terms of 1 year and 5 years. Rents usually increase annually in accordance with defined rent steps or are based on current year consumer price index adjustments. Some of the lease agreements contain one or more of the following provisions: tenant allowances, rent holidays, lease premiums, and rent escalation clauses. There are typically no purchase options, residual value guarantees or restrictive covenants. When renewal options exist, the Company generally does not deem them to be reasonably certain to be exercised, and therefore the amounts are not recognized as part of the lease liability nor the right of use asset. The Company has certain leases that have terms that are a year or less and are accounted on a straight-line basis over the term of the lease. The Company recognized $39 thousand and $117 thousand of lease expense in the quarter and nine months ended September 26, 2025, respectively, on these leases, as compared to $35 thousand and $106 thousand, respectively, for the same periods in 2024. The components of lease expense were as follows for the nine months ended September 26, 2025 (in thousands):
Operating lease cost |  | $ | 984 |
Total net lease costs |  | $ | 984 |
5. Lease Commitments (continued) The weighted average remaining lease term is 2.8 years. The weighted average discount rate utilized is 6.0%. For the quarter and nine months ended September 26, 2025, the Company paid $0.4 million and $1.0 million, respectively, from operating cash flows for its operating leases. Future minimum lease commitments under non-cancellable operating leases as of September 26, 2025, were as follows (in thousands):
2025 (excluding the nine months ended September 26, 2025) |  | $ | 342 |
2026 |  |  | 1,207 |
2027 |  |  | 805 |
2028 |  |  | 446 |
2029 and thereafter |  |  | 185 |
Total lease payments |  |  | 2,985 |
Less imputed interest |  |  | (298 | )
Total |  | $ | 2,687 |
As of September 26, 2025, the Company does not have any additional material operating leases that have not yet commenced.

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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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