XML 27 R16.htm IDEA: XBRL DOCUMENT v3.25.3
LEASES
 9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
LEASES LEASES
As disclosed in “Note (2) Summary of Significant Accounting Policies; (l) Leases,” we account for our leases in accordance with the guidance in ASC 842. We lease our offices, warehouse facilities and certain equipment under non-cancellable operating leases that expire at various dates through 2032. Total operating lease and short-term lease costs for the three and nine months ended September 30, 2025 and 2024, respectively, were as follows:
Three Months EndedNine Months Ended
September 30,September 30,
(in thousands)2025202420252024
Operating lease cost$660 $529 $1,954 $1,489 
Short-term lease cost— 4 6 10 
The following is additional information about our leases as of September 30, 2025:
Range of remaining lease terms (in years)0.2to6.4
Weighted average remaining lease term (in years)5.2
Weighted average discount rate6.7%
Maturities of lease liabilities as of September 30, 2025, were as follows:
(in thousands)
2025 (remainder)$624 
20262,560 
20272,366 
20281,732 
20291,607 
Thereafter2,623 
Total lease payments$11,512 
Less imputed interest(1,546)
Total present value of lease liabilities$9,966 
Cash Flow Information
Three Months EndedNine Months Ended
September 30,September 30,
(in thousands)2025202420252024
Amortization of ROU assets$545 $356 $1,611 $1,041 
ROU assets obtained in exchange for operating lease obligations135 — 221 5,623 
As disclosed in “Note (3) Acquisition,” on March 12, 2024, we acquired the stock of Alfamation™, and as such, we assumed several leases. In addition, we also entered into the Alfamation Lease Agreement for the seller-owned facility where Alfamation™ has its principal operations. The leased premises include warehouse and office space totaling approximately 52 thousand square feet. The semi-annual lease payments are €0.1 million. The impact of the assumption and execution of these leases was a non-cash increase in our ROU assets and operating lease liabilities of approximately $1.7 million at the date of the acquisition.