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LEASES | 6 Months Ended
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Jun. 30, 2025
Leases [Abstract] |
LEASES | LEASES The Company has a non-cancelable operating lease through December 31, 2030 for its corporate office, which is located in Lake Forest, Illinois (the “Lake Forest Lease”). Additionally, in connection with the Spectrum Merger, the Company assumed leases for two facilities and certain office equipment which Spectrum had previously been the lessee (See Note 14, Restructuring Charges). The following table reflects lease expense for the three and six months ended June 30, 2025 and 2024 (in thousands):
|  |  | Three Months Ended June 30, |  | Six Months Ended June 30,
| Financial Statement Classification |  | 2025 |  | 2024 |  | 2025 |  | 2024
Operating lease cost | Selling, general and administrative expenses |  | $ | 61 |  |  | $ | 65 |  |  | $ | 121 |  |  | $ | 131 |
The following table reflects supplemental cash flow information related to leases for the three and six months ended June 30, 2025 and 2024 (in thousands):
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Cash paid for amounts included in measurement of liabilities: |  |  |  |
Operating cash flows from operating leases | $ | 119 |  |  | $ | 258 |  |  | $ | 238 |  |  | $ | 540 |
The following table reflects supplemental balance sheet information related to leases as of June 30, 2025 and December 31, 2024 (in thousands):
| Financial Statement Classification |  | June 30, 2025 |  | December 31, 2024
Assets |  |  |  |  |
Operating lease right-of-use assets | Other long-term assets |  | $ | 1,049 |  |  | $ | 1,125 |
Liabilities |  |  |  |  |
Current operating lease liabilities | Other current liabilities |  | $ | 266 |  |  | $ | 331 |
Noncurrent operating lease liabilities | Other long-term liabilities |  | 995 |  |  | 1,122 |
Total lease liabilities |  |  | $ | 1,261 |  |  | $ | 1,453 |
LEASES | LEASES The Company has a non-cancelable operating lease through December 31, 2030 for its corporate office, which is located in Lake Forest, Illinois (the “Lake Forest Lease”). Additionally, in connection with the Spectrum Merger, the Company assumed leases for two facilities and certain office equipment which Spectrum had previously been the lessee (See Note 14, Restructuring Charges). The following table reflects lease expense for the three and six months ended June 30, 2025 and 2024 (in thousands):
|  |  | Three Months Ended June 30, |  | Six Months Ended June 30,
| Financial Statement Classification |  | 2025 |  | 2024 |  | 2025 |  | 2024
Operating lease cost | Selling, general and administrative expenses |  | $ | 61 |  |  | $ | 65 |  |  | $ | 121 |  |  | $ | 131 |
The following table reflects supplemental cash flow information related to leases for the three and six months ended June 30, 2025 and 2024 (in thousands):
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Cash paid for amounts included in measurement of liabilities: |  |  |  |
Operating cash flows from operating leases | $ | 119 |  |  | $ | 258 |  |  | $ | 238 |  |  | $ | 540 |
The following table reflects supplemental balance sheet information related to leases as of June 30, 2025 and December 31, 2024 (in thousands):
| Financial Statement Classification |  | June 30, 2025 |  | December 31, 2024
Assets |  |  |  |  |
Operating lease right-of-use assets | Other long-term assets |  | $ | 1,049 |  |  | $ | 1,125 |
Liabilities |  |  |  |  |
Current operating lease liabilities | Other current liabilities |  | $ | 266 |  |  | $ | 331 |
Noncurrent operating lease liabilities | Other long-term liabilities |  | 995 |  |  | 1,122 |
Total lease liabilities |  |  | $ | 1,261 |  |  | $ | 1,453 |

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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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- Definition The entire disclosure for lessor's operating leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-30/tableOfContent + Details
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