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LEASES | 9 Months Ended
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Sep. 30, 2025
Leases [Abstract] |
LEASES | LEASES As disclosed in “Note (2) Summary of Significant Accounting Policies; (l) 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 nine months ended September 30, 2025 and 2024, respectively, were as follows:
|  | Three Months Ended |  | Nine Months Ended
|  | September 30, |  | September 30,
(in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Operating lease cost |  | $ | 660 |  |  | $ | 529 |  |  | $ | 1,954 |  |  | $ | 1,489 |
Short-term lease cost |  | — |  |  | 4 |  |  | 6 |  |  | 10 |
The following is additional information about our leases as of September 30, 2025:
Range of remaining lease terms (in years) |  | 0.2 | to | 6.4
Weighted average remaining lease term (in years) |  |  | 5.2 |
Weighted average discount rate |  |  | 6.7% |
Maturities of lease liabilities as of September 30, 2025, were as follows:
(in thousands) |  |
2025 (remainder) |  | $ | 624 |
2026 |  | 2,560 |
2027 |  | 2,366 |
2028 |  | 1,732 |
2029 |  | 1,607 |
Thereafter |  | 2,623 |
Total lease payments |  | $ | 11,512 |
Less imputed interest |  | (1,546) |
Total present value of lease liabilities |  | $ | 9,966 |
Cash Flow Information
|  | Three Months Ended |  | Nine Months Ended
|  | September 30, |  | September 30,
(in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Amortization of ROU assets |  | $ | 545 |  |  | $ | 356 |  |  | $ | 1,611 |  |  | $ | 1,041 |
ROU assets obtained in exchange for operating lease obligations |  | 135 |  |  | — |  |  | 221 |  |  | 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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