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LEASES
 3 Months Ended
Mar. 31, 2025
Leases [Abstract]  
LEASES LEASES
The Company leases certain equipment, manufacturing, warehouse and office space under non-cancellable operating leases with expirations through 2027 under which it is responsible for related maintenance, taxes and insurance. Effective July 1, 2024, our warehouse and office lease was amended to reduce the rentable square feet from 62,335 square feet to 29,692 square feet and the rent expenses were decreased in proportion to the reduction in rentable square. The Company recorded this as a lease modification in accordance with ASC 842 Leases (“ASC 842”) and recorded a reduction to the right of use asset and lease liability of approximately $395 thousand using an incremental borrowing rate of approximately 13.64%. The Company recognized a gain on the lease modification of $63 thousand during the third quarter of 2024. The weighted average remaining lease term for operating leases is 2.25 years.
Components of the operating lease costs recognized in net loss were as follows (in thousands):
Three months ended March 31,
 20252024
Operating lease cost
Lease cost$48 $97 
Operating lease cost, net$48 $97 
Supplemental balance sheet information related to the Company’s operating leases as of March 31, 2025 and December 31, 2024 are as follows (in thousands):
 March 31, 2025December 31, 2024
Operating Leases
Operating lease right-of-use assets$345 $377 
Operating lease liabilities$361 $393 
Future minimum lease payments required under operating leases for each of the 12-month rolling periods below in effect at March 31, 2025 are as follows (in thousands):
Operating Leases
April 2025 through March 2026183 
April 2026 through March 2027186 
April 2027 through June 202747 
Total future undiscounted lease payments416 
Less imputed interest(55)
Total lease obligations$361 
Supplemental cash flow information related to leases for the three months ended March 31, 2025 and 2024, was as follows (in thousands):
Three months ended March 31,
 20252024
Supplemental cash flow information 
Cash paid, net, for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$45 $94 
LEASES LEASES
The Company leases certain equipment, manufacturing, warehouse and office space under non-cancellable operating leases with expirations through 2027 under which it is responsible for related maintenance, taxes and insurance. Effective July 1, 2024, our warehouse and office lease was amended to reduce the rentable square feet from 62,335 square feet to 29,692 square feet and the rent expenses were decreased in proportion to the reduction in rentable square. The Company recorded this as a lease modification in accordance with ASC 842 Leases (“ASC 842”) and recorded a reduction to the right of use asset and lease liability of approximately $395 thousand using an incremental borrowing rate of approximately 13.64%. The Company recognized a gain on the lease modification of $63 thousand during the third quarter of 2024. The weighted average remaining lease term for operating leases is 2.25 years.
Components of the operating lease costs recognized in net loss were as follows (in thousands):
Three months ended March 31,
 20252024
Operating lease cost
Lease cost$48 $97 
Operating lease cost, net$48 $97 
Supplemental balance sheet information related to the Company’s operating leases as of March 31, 2025 and December 31, 2024 are as follows (in thousands):
 March 31, 2025December 31, 2024
Operating Leases
Operating lease right-of-use assets$345 $377 
Operating lease liabilities$361 $393 
Future minimum lease payments required under operating leases for each of the 12-month rolling periods below in effect at March 31, 2025 are as follows (in thousands):
Operating Leases
April 2025 through March 2026183 
April 2026 through March 2027186 
April 2027 through June 202747 
Total future undiscounted lease payments416 
Less imputed interest(55)
Total lease obligations$361 
Supplemental cash flow information related to leases for the three months ended March 31, 2025 and 2024, was as follows (in thousands):
Three months ended March 31,
 20252024
Supplemental cash flow information 
Cash paid, net, for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$45 $94