XML 32 R17.htm IDEA: XBRL DOCUMENT

Note 7 - Leases

12 Months Ended

Dec. 31, 2025

Operating and Finance Leases [Text Block]

NOTE 7 – LEASES

The Company has operating leases for office facilities in various locations throughout the United States and Israel. Additionally, the Company has financing leases for vehicles it uses for its operations throughout the United States. The Company’s leases have remaining terms of one to nine years. Certain of the Company’s leases include options to extend the term of the lease or to terminate the lease prior to the end of the initial term. When it is reasonably certain that the Company will exercise the option, the Company will include the impact of the option in the lease term for purposes of determining total future lease payments.

During the first quarter of 2025, the Company entered into a lease amendment that modified the timing of contractual lease payments related to its lease in Columbia Maryland. Based on the Company's evaluation, the amendment qualified as a lease modification under ASC 842. As a result of the modification, the Company recognized a decrease of $1,344,000 in both its operating lease liability and the corresponding operating lease right-of-use asset.

As noted in Note 6, in December 2025 the Company determined to cease the operations of its wholly owned subsidiary, Waycare Technologies Ltd., located in Tel Aviv, Israel. As a result of this decision, the Company recognized an impairment charge of $2,708,000 related to the operating lease ROU asset associated with the Tel Aviv facility.

Lease cost recognized in our consolidated statements of operations is summarized as follows (dollars in thousands):

	*Year ended December 31,*
	*2025*		*2024*
Operating lease cost	$	2,454	$	2,309
Finance lease cost
Amortization of right-of-use assets		1,223		939
Interest on lease liabilities		167		156
Finance lease cost		1,390		1,095
Total lease cost	$	3,844	$	3,404

Other information about lease amounts recognized in our consolidated financial statements is as follows:

	*Year ended December 31,*
	*2025*			*2024*
Weighted-average remaining lease term (years) - operating leases		6.35			7.56
Weighted-average remaining lease term (years) - financing leases		2.54			2.19
Weighted-average discount rate - operating leases		12.1	%		9.2	%
Weighted-average discount rate - financing leases		9.1	%		9.0	%

Maturities of operating and financing lease liabilities for continuing operations at December 31, 2025 were as follows (dollars in thousands):

	*Operating Leases*		*Financing Leases*
2026	$	4,142	$	887
2027		2,739		383
2028		2,544		166
2029		2,480		133
Thereafter		6,607		57
Total lease payments		18,512		1,626
Less imputed interest		5,222		174
Present value of lease liabilities	$	13,290	$	1,452