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LEASES | 6 Months Ended
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Jun. 30, 2025
Leases [Abstract] |
LEASES | LEASES As disclosed in “Note (2) Summary of Significant Accounting Policies; (k) Leases,” we account for our leases in accordance with the guidance in ASC 842. We lease our offices, warehouse facilities and certain equipment under non-cancellable operating leases that expire at various dates through 2032. Total operating lease and short-term lease costs for the three and six months ended June 30, 2025 and 2024, respectively, were as follows:
|  | Three Months Ended |  | Six Months Ended
|  | June 30, |  | June 30,
(in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Operating lease cost |  | $ | 641 |  |  | $ | 509 |  |  | $ | 1,294 |  |  | $ | 960 |
Short-term lease cost |  | 2 |  |  | 4 |  |  | 6 |  |  | 7 |
The following is additional information about our leases as of June 30, 2025:
Range of remaining lease terms (in years) |  | 0.3 | to | 6.7
Weighted average remaining lease term (in years) |  |  | 5.4 |
Weighted average discount rate |  |  | 6.7% |
Maturities of lease liabilities as of June 30, 2025, were as follows:
(in thousands) |  |
2025 (remainder) |  | $ | 1,410 |
2026 |  | 2,529 |
2027 |  | 2,334 |
2028 |  | 1,696 |
2029 |  | 1,583 |
Thereafter |  | 2,624 |
Total lease payments |  | $ | 12,176 |
Less imputed interest |  | (1,760) |
Total |  | $ | 10,416 |
Cash Flow Information
|  | Three Months Ended |  | Six Months Ended
|  | June 30, |  | June 30,
(in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Amortization of ROU assets |  | $ | 428 |  |  | $ | 282 |  |  | $ | 1,066 |  |  | $ | 685 |
ROU assets obtained in exchange for operating lease obligations |  | 1 |  |  | 5,517 |  |  | 86 |  |  | 5,623 |
As disclosed in “Note (3) Acquisition,” on March 12, 2024, we acquired the stock of Alfamation™, and as such, we assumed several leases. In addition, we also entered into the Alfamation Lease Agreement for the seller-owned facility where Alfamation™ has its principal operations. The leased premises include warehouse and office space totaling approximately 52 thousand square feet. The semi-annual lease payments are €0.1 million. The impact of the assumption and execution of these leases was a non-cash increase in our ROU assets and operating lease liabilities of approximately $1.7 million at the date of the acquisition.

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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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