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Note 7 - Leases

6 Months Ended

Jun. 30, 2025

7.	Leases

The Company has noncancelable operating leases for offices, manufacturing facilities, warehouse space, automobiles and equipment expiring at various dates through 2030.

The components of lease expense for the three and six months ended June 30, 2025 and 2024, were as follows:

	Three Months Ended June 30,					Six Months Ended June 30,
(in thousands)	2025		2024			2025		2024
Operating lease cost	$	526	$	508		$	1,047	$	1,019
Short-term lease cost		44		52			88		102
Sublease income		-		(26	)		-		(51	)
Total lease cost	$	570	$	534		$	1,135	$	1,070

Supplemental cash flow information related to the Company's operating leases is as follows:

	Six Months Ended June 30,
(in thousands)	2025		2024
Cash paid for amounts included in the measurement of lease liabilities	$	1,190	$	1,162
Right-of-use assets obtained in exchange for lease obligations		1,499		443

Supplemental balance sheet information related to the Company’s operating leases is as follows:

	June 30,			December 31,
(in thousands)	2025			2024
Operating lease right-of-use assets	$	7,131		$	6,132

Current portion, operating lease liabilities	$	1,453		$	1,158
Operating lease liabilities, long-term		6,997			6,381
Total operating lease liabilities	$	8,450		$	7,539

Weighted average remaining lease term (years)		4.6			5.2
Weighted average discount rate		8.0	%		8.9	%

Future minimum lease payments for operating leases, with initial terms in excess of one year at June 30, 2025, are as follows:

Year Ending December 31,
(in thousands)
2025 (remainder of the year)	$	997
2026		2,216
2027		2,200
2028		2,138
2029		1,899
Thereafter		808
Total lease payments		10,258
Less imputed interest		(1,808	)
Total operating lease liabilities	$	8,450