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Note 7 - Leases

9 Months Ended

Sep. 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 nine months ended September 30, 2025 and 2024, were as follows:

	Three Months Ended September 30,					Nine Months Ended September 30,
(in thousands)	2025		2024			2025		2024
Operating lease cost	$	563	$	520		$	1,610	$	1,539
Short-term lease cost		45		46			133		148
Sublease income		-		(17	)		-		(68	)
Total lease cost	$	608	$	549		$	1,743	$	1,619

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

	Nine Months Ended September 30,
(in thousands)	2025		2024
Cash paid for amounts included in the measurement of lease liabilities	$	1,776	$	1,745
Right-of-use assets obtained in exchange for lease obligations		2,246		2,945

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

	September 30,			December 31,
(in thousands)	2025			2024
Operating lease right-of-use assets	$	7,500		$	6,132

Current portion, operating lease liabilities	$	1,486		$	1,158
Operating lease liabilities, long-term		7,332			6,381
Total operating lease liabilities	$	8,818		$	7,539

Weighted average remaining lease term (years)		4.4			5.2
Weighted average discount rate		7.9	%		8.9	%

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

Year Ending December 31,
(in thousands)
2025 (remainder of the year)	$	522
2026		2,423
2027		2,394
2028		2,310
2029		2,071
Thereafter		870
Total lease payments		10,590
Less imputed interest		(1,772	)
Total operating lease liabilities	$	8,818