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LEASES | 12 Months Ended
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Dec. 31, 2025
Leases [Abstract] |
LEASES | LEASES We have various non-cancellable operating leases for our office spaces and operational assets with lease periods expiring between 2023 and 2032. During the year ended December 31, 2024, we recognized additional right-of-use assets and lease liabilities of $1.6 million related to a new lease agreement for office space. There were no new lease agreements for office space during the year ended December 31, 2025. During the year ended December 31, 2025 and 2024, there were no impairments on any of our leases. Refer to Note 15—Segments for more information on our operating segments. During the year ended December 31, 2025 and 2024, respectively, we made cash payments of $2.8 million and $2.3 million for operating leases which are included in cash flows used in operating activities in our consolidated statement of cash flows. Lease assets and liabilities, net, are as follows (in thousands):
|  |  | December 31,
Lease Type |  | Consolidated Balance Sheets Location | 2025 |  | 2024
Operating lease assets |  | Right-of-use assets under operating leases, net | $ | 4,947 |  |  | $ | 6,341 |
Total lease assets |  |  | 4,947 |  |  | 6,341 |
Operating lease liabilities, current |  | Current operating lease liabilities | 1,607 |  |  | 2,025 |
Operating lease liabilities, long-term |  | Long-term operating lease liabilities | 4,787 |  |  | 6,034 |
Total lease liabilities |  |  | $ | 6,394 |  |  | $ | 8,059 |
The following table summarizes activity related to our leases (in thousands):
| December 31,
| 2025 |  | 2024
Operating lease expense | $ | 2,600 |  |  | $ | 2,822 |
Variable lease expense | 559 |  |  | 693 |
Short-term lease expense | 168 |  |  | 1,058 |
The following table presents our weighted average borrowing rates and weighted average lease terms:
| December 31,
| 2025 |  | 2024
Operating leases: |  |  |
Weighted average borrowing rate | 7.2 | % |  | 7.3 | %
Weighted average remaining lease term (years) | 3.06 |  | 3.81
The following table summarizes future maturities of lease liabilities as of December 31, 2025 (in thousands):
Fiscal Year | Operating Leases
2026 | $ | 2,321 |
2027 | 2,211 |
2028 | 1,491 |
2029 | 1,122 |
Thereafter | 1,784 |
Total lease payments | 8,929 |
Imputed interest | 2,535 |
Total lease liabilities | $ | 6,394 |

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance 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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