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LEASES (Tables)
9 Months Ended
Sep. 30, 2025
LEASES  
Summary of balance sheet presentation of our operating and finance leases

(dollars in thousands)

Classification on the Condensed Consolidated Balance Sheet

September 30, 2025

December 31, 2024

Assets:

Operating lease right-of-use assets, net

$

2,431

$

395

Finance lease right-of-use assets, net

1,059

517

Total lease assets

$

3,490

$

912

Liabilities:

Current:

Current maturities of operating lease liabilities

$

366

$

201

Current maturities of finance lease liabilities

215

124

Noncurrent:

Operating lease liabilities, less current maturities

2,097

206

Finance lease liabilities, less current maturities

799

348

Total lease liabilities

$

3,477

$

879

Summary of estimated future minimum lease payments for operating leases

As of September 30, 2025, the estimated future minimum lease payments, excluding non-lease components, are as follows:

(dollars in thousands)

    

Operating Leases

Finance Leases

Total

September 30,

September 30,

September 30,

2025

2025

2025

2025 (remaining)

$

146

$

81

$

227

2026

 

594

 

300

 

894

2027

 

648

 

274

 

922

2028

 

691

234

 

925

2029

734

186

920

Thereafter

 

290

 

207

 

497

Total lease obligations

 

3,103

 

1,282

 

4,385

Less: Amount representing interest

 

(640)

 

(268)

 

(908)

Present value of net minimum lease obligations

 

2,463

 

1,014

 

3,477

Less, current portion

 

(366)

 

(215)

 

(581)

Long term portion

$

2,097

$

799

$

2,896

Summary of estimated future minimum lease payments for finance leases

As of September 30, 2025, the estimated future minimum lease payments, excluding non-lease components, are as follows:

(dollars in thousands)

    

Operating Leases

Finance Leases

Total

September 30,

September 30,

September 30,

2025

2025

2025

2025 (remaining)

$

146

$

81

$

227

2026

 

594

 

300

 

894

2027

 

648

 

274

 

922

2028

 

691

234

 

925

2029

734

186

920

Thereafter

 

290

 

207

 

497

Total lease obligations

 

3,103

 

1,282

 

4,385

Less: Amount representing interest

 

(640)

 

(268)

 

(908)

Present value of net minimum lease obligations

 

2,463

 

1,014

 

3,477

Less, current portion

 

(366)

 

(215)

 

(581)

Long term portion

$

2,097

$

799

$

2,896

Schedule of other information

September 30,

December 31,

2025

2024

Weighted-average remaining lease term (years):

Operating leases

4.7

1.9

Finance leases

4.7

4.4

Weighted-average discount rate:

Operating leases

10.00%

8.00%

Finance leases

10.75%

11.20%