Annual report [Section 13 and 15(d), not S-K Item 405]

Leases (Tables)

v3.25.4
Leases (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of the Components of Lease Costs
The components of the Company’s operating lease costs consisted of the following (in thousands):
Years Ended December 31,
2025 2024
Operating lease cost $ 1,989  $ 1,910 
Variable lease cost 460  359 
Total lease cost $ 2,449  $ 2,269 
Supplemental cash flow information and non-cash activity related to the Company’s leases are as follows (in thousands):
Years Ended December 31,
2025 2024
Cash paid for amounts included in the measurement of lease liabilities and right of use assets:
Operating cash flow from operating leases $ 2,025  $ 1,863 
Right of use assets obtained in exchange for lease obligations:
Operating leases $ 37  $ 250 
Increases to right of use assets resulting from lease modifications:
Operating leases $ 344  $ — 
Weighted average remaining lease terms and discount rates for the Company’s operating leases are as follows:
2025 2024
Years Years
Weighted average remaining lease term: 4.5 5.3
Rate Rate
Weighted average discount rate: 7.7% 7.9%
Schedule of Future Maturities of Lease Liabilities
Future maturities of lease liabilities as of December 31, 2025 are as follows (in thousands):
Operating Leases
2026 $ 1,903 
2027 1,627 
2028 1,504 
2029 1,396 
2030 818 
Thereafter 273 
Total undiscounted lease payments 7,521 
Less: Imputed interest (2,706)
Total lease liabilities $ 4,815 
Schedule of Leases Revenues
The components of the Company’s lease revenues consisted of the following (in thousands):
Years Ended December 31,
2025 2024
Net operating lease revenue
 $ 30,006  $ 27,843 
Sales-type lease revenue 350  717 
Total lease revenue $ 30,356  $ 28,560 
Schedule of Net Investment in Sales-type Leases
The components of our net investment in sales-type leases as of December 31, 2025 and 2024 were (in thousands):

2025 2024
Lease receivable $ 1,905  $ 1,934 
Net investment in leases $ 1,905  $ 1,934 

Our net investment in sales-type leases is classified as follows in the accompanying consolidated balance sheets as of December 31, 2025 and 2024 (in thousands):

2025 2024
Accounts receivable, net $ 563  $ 1,207 
Other assets 1,342  727 
Total $ 1,905  $ 1,934 
Schedule of Future Maturities of Sales-type Leases
Future maturities of sales-type leases as of December 31, 2025 are as follows (in thousands):
Sales-Type Leases
2026 $ 807 
2027 658 
2028 562 
2029 408 
Total undiscounted lease payments 2,435 
Less: Imputed interest (530)
Total lease receivables $ 1,905