Note 8 - Leases

3 Months Ended

Mar. 31, 2026

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

Note 8. Leases

The Company leases approximately 54,000 square feet (not in thousands) of industrial space in West Melbourne, Florida, under a non-cancellable operating lease. The lease has an expiration date of June 30, 2027. The lease terms include an option to extend the lease agreement for an additional five (5) year term commencing July 1, 2027 and terminating at midnight June 30, 2032.  Annual rental, maintenance, and tax expenses for the facility are approximately $610. In February 2026, we entered into a new lease relating to this property, pursuant to which we will lease approximately 31,500 square feet (not in thousands) of industrial space at 7100 Technology Drive in West Melbourne, Florida. The lease will commence in February 2027, has a term of 125 months, and includes two five-year renewal options.

In February 2020, the Company entered into a lease for 6,857 square feet (not in thousands) of office space at Sawgrass Technology Park, 1619 NW 136th Avenue in Sunrise, Florida, for a period of 64 months commencing July 1, 2020 (the “Sawgrass Lease”). In September 2025, the Company entered into an amendment to the Sawgrass Lease to lease an additional 1,514 square feet (not in thousands) of office space and to extend the lease term an additional 62 months, commencing on the date construction on the additional leased area is completed (the “Sawgrass Amendment”). Pursuant to the Sawgrass Amendment, the annual rental, maintenance, and tax expenses for the facility will be approximately $180 for the first year of the extended term and will increase approximately 3.0% for each subsequent 12-month period.

Lease costs consisted of the following:

	Three Months Ended
	March 31, 2026		March 31, 2025
Operating lease cost	$	158	$	136
Variable lease cost		34		33
Total lease cost	$	192	$	169

Note 8. Leases (continued)

Supplemental cash flow information related to leases was as follows:

	Three Months Ended
	March 31, 2026		March 31, 2025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows (fixed payments)	$	166	$	155
Operating cash flows (liability reduction)	$	146	$	139
ROU assets obtained in exchange for lease obligations:
Operating leases	$	875	$	—

Other information related to operating leases was as follows:

	March 31, 2026
Weighted average remaining lease term (in years)		3.41
Weighted average discount rate		5.50	%

Maturity of lease liabilities as of March 31, 2026, were as follows:

	March 31, 2026
Remaining nine months of 2026	$	503
2027		439
2028		200
2029		202
2030		206
2031		33
Total payments		1,583
Less: imputed interest		(140	)
Total present value of lease liabilities	$	1,443