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v3.26.1

Leases | 3 Months Ended
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Mar. 31, 2026
Leases [Abstract] |
Leases | 5. LEASES As of March 31, 2026, the Company leased-in certain facilities and other equipment but did not lease-in any vessels. The leases typically contain purchase and renewal options or rights of first refusal with respect to the sale or lease of the equipment. The lease terms of certain facilities and other equipment had a duration ranging from six to 249 months. As of March 31, 2026, future minimum payments for leases for the remainder of 2026 and the years ended December 31, noted below, were as follows (in thousands):
|  | Operating Leases |  |  | Finance Leases |
Remainder of 2026 |  | $ | 380 |  |  | $ | 10 |
2027 |  |  | 323 |  |  |  | 9 |
2028 |  |  | 30 |  |  |  | — |
2029 |  |  | 30 |  |  |  | — |
2030 |  |  | 30 |  |  |  | — |
Years subsequent to 2030 |  |  | 480 |  |  |  | — |
|  |  | 1,273 |  |  |  | 19 |
Interest component |  |  | (322 | ) |  |  | (2 | )
|  |  | 951 |  |  |  | 17 |
Current portion of long-term lease liabilities |  |  | 481 |  |  |  | 12 |
Long-term lease liabilities |  | $ | 470 |  |  | $ | 5 |
For the three months ended March 31, 2026 and 2025 the components of lease expense were as follows (in thousands):
|  | Three Months Ended March 31, |
|  | 2026 |  |  | 2025 |
Operating lease costs |  | $ | 160 |  |  | $ | 200 |
Finance lease costs: |  |  |  |  |  |
Amortization of finance lease assets (1) |  |  | 3 |  |  |  | 11 |
Interest on finance lease liabilities (2) |  |  | 1 |  |  |  | 1 |
Short-term lease costs |  |  | 90 |  |  |  | 137 |
|  | $ | 254 |  |  | $ | 349 |
(1) Included in amortization costs in the consolidated statements of income (loss). (2) Included in interest expense in the consolidated statements of income (loss). For the three months ended March 31, 2026 supplemental cash flow information related to leases was as follows (in thousands):
|  | 2026 |  |  | 2025 |
Operating cash outflows from operating leases |  | $ | 164 |  |  | $ | 178 |
Financing cash outflows from finance leases |  |  | 3 |  |  |  | 9 |
Right-of-use assets obtained for operating lease liabilities |  |  | 83 |  |  |  | — |
For the three months ended March 31, 2026 other information related to leases was as follows:
|  | 2026 |  |  | 2025 |
Weighted average remaining lease term, in years - operating leases |  |  | 11.5 |  |  |  | 11.5 |
Weighted average remaining lease term, in years - finance leases |  |  | 1.5 |  |  |  | 2.4 |
Weighted average discount rate - operating leases |  |  | 12.1 | % |  |  | 6.1 | %
Weighted average discount rate - finance leases |  |  | 11.0 | % |  |  | 10.8 | %

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- Definition Leases disclosure. + References No definition available. + Details
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- References No definition available. + Details
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Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration