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v3.25.1

Leases | 3 Months Ended
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Mar. 31, 2025
Leases |
Leases | 4. Leases At the inception of an arrangement, the Company determines if an arrangement is, or contains, a lease based on facts and circumstances present in that arrangement. Lease classifications, recognition, and measurement are then determined at the lease commencement date. The Company’s operating lease right-of-use (“ROU”) assets and operating lease liabilities include primarily leases for office and warehouse spaces used to conduct our business. Finance leases primarily consist of lab, processing and transport equipment used by our facilities’ operations. The components of lease cost for the Company’s leases were as follows (in thousands): Schedule of Components of Lease Cost
|  | Three Months Ended |
|  | March 31, |
|  | 2025 |  |  | 2024 |
Operating Lease: |  |  |  |  |  |  |  |
Lease cost |  | $ | 121 |  |  | $ | 143 |
Finance Leases: |  |  |  |  |  |  |  |
Amortization of ROU assets |  |  | 63 |  |  |  | 65 |
Interst on lease liablity |  |  | 23 |  |  |  | 22 |
Finance lease |  |  | 86 |  |  |  | 87 |
Short-term lease rent expense |  |  | 2 |  |  |  | — |
Total lease cost |  | $ | 209 |  |  | $ | 230 |
The weighted average remaining lease term and the weighted average discount rate for operating and finance leases as of March 31, 2025, were: Schedule of Weighted Average Lease
|  | Operating Leases |  |  | Finance Leases |
Weighted average remaining lease terms (years) |  |  | 4.5 |  |  |  | 3.7 |
Weighted average discount rate |  |  | 7.7 | % |  |  | 9.4 | %
The weighted average remaining lease term and the weighted average discount rate for operating and finance leases as of March 31, 2024 were:
|  | Operating Leases |  |  | Finance Leases |
Weighted average remaining lease terms (years) |  |  | 5.4 |  |  |  | 4.3 |
Weighted average discount rate |  |  | 7.6 | % |  |  | 8.8 | %
The following table reconciles the undiscounted cash flows for the operating and finance leases as of March 31, 2025, to the operating and finance lease liabilities recorded on the balance sheet (in thousands): Schedule of Operating and Finance Lease Liability Maturity
|  | Operating Leases |  |  | Finance Leases |
2025 |  | $ | 373 |  |  | $ | 287 |
2026 |  |  | 479 |  |  |  | 231 |
2027 |  |  | 447 |  |  |  | 197 |
2028 |  |  | 343 |  |  |  | 174 |
2029 |  |  | 334 |  |  |  | 112 |
2030 and thereafter |  |  | 73 |  |  |  | — |
Total undiscounted lease payments |  |  | 2,049 |  |  |  | 1,001 |
Less: Imputed interest |  |  | (351 | ) |  |  | (163 | )
Present value of lease payments |  | $ | 1,698 |  |  | $ | 838 |
Current portion of operating lease obligations |  | $ | 365 |  |  | $ | — |
Long-term operating lease obligations, less current portion |  | $ | 1,333 |  |  | $ | — |
Current portion of finance lease obligations |  | $ | — |  |  | $ | 298 |
Long-term finance lease obligations, less current portion |  | $ | — |  |  | $ | 540 |
Supplemental cash flow and other information related to our leases were as follows (in thousands): Schedule of Supplemental Cash Flow and Other Information Related to Leases
|  | Three Months Ended |
|  | March 31, |
|  | 2025 |  |  | 2024 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |
Operating cash flow from operating leases |  | $ | 113 |  |  | $ | 147 |
Operating cash flow from finance leases |  | $ | 23 |  |  | $ | 22 |
Financing cash flow from finance leases |  | $ | 71 |  |  | $ | 75 |
ROU assets obtained in exchange for lease obligations for: |  |  |  |  |  |  |  |
Finance liabilities |  | $ | 132 |  |  | $ | — |

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- Definition Lessee Operating And Finance Leases [Text Block] + References No definition available. + Details
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