As a lessee, the Company currently leases office space and vehicles in the United States, Italy, Israel, China, Philippines and Thailand. All of the Company’s leases are classified as operating leases. The Company has no leases classified as finance or sales-type leases. For leases with terms greater than 12 months, the Company records the related assets and obligations at the present value of lease

payments over the term. Many of the Company’s leases include rental escalation clauses, renewal options and/or termination options that are factored into the Company’s determination of lease payments.

When available, the Company uses the rate implicit in the lease to discount lease payments to present value; however, most of its leases do not provide a readily determinable implicit rate. Therefore, the Company must estimate its incremental borrowing rate to discount the lease payments based on information available at lease commencement. The majority of the Company’s leases have remaining lease terms of one to five years, some of which include options to extend the leases for up to eight years, and some of which include options to terminate the leases within one year.

The components of lease expense are as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2026		2025		2026		2025
Operating lease costs	$	270	$	195	$	531	$	512
Variable lease costs		55		135		103		258
Total lease cost	$	325	$	330	$	634	$	770

Other information related to leases was as follows:


	Six Months Ended June 30,
Supplemental Cash Flows Information (in thousands)	2026		2025
Operating lease right of use assets obtained in exchange for operating lease liabilities	$	65	$	1,633
Cash paid for amounts included in the measurement of lease liabilities	$	536	$	499


	June 30, 2026			December 31, 2025
Weighted-average remaining lease term (years)		2.6			3.0
Weighted-average discount rate		6.7	%		6.6	%

Future maturities of lease liabilities were as follows as of June 30, 2026:


(in thousands)	Operating Leases
Remainder of 2026	$	527
2027		969
2028		690
2029		393
2030		—
Thereafter		—
Total future minimum lease payments		2,579
Less: imputed interest		244
Present value of lease liabilities	$	2,335