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LEASES
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
LEASES LEASES
Facility Leases
Acacia primarily leases office facilities under operating lease arrangements that will end in various years through January 2031.
On June 7, 2019, Acacia entered into a building lease agreement with Jamboree Center 4 LLC. Pursuant to the lease, we had leased 8,293 square feet of office space in Irvine, California. The lease commenced on August 1, 2019. The term of the lease was 60 months from the commencement date, provided for annual rent increases, and did not provide us the right to early terminate or extend our lease terms. The lease expired on July 31, 2024, and was not renewed or extended. On April 29, 2024, Acacia entered into a building lease agreement with Metro Pointe 13580 Lot Two, a California Limited Partnership. Pursuant to the lease, we have leased 1,820 square feet of office space in Costa Mesa, California. The lease commenced on July 1, 2024. The term of the lease is 38 months from the commencement date, provides for annual rent increases, and does not provide us the right to early terminate or extend our lease terms.
On January 7, 2020, Acacia entered into a building lease agreement with Sage Realty Corporation. Pursuant to the lease, as amended, Acacia has leased approximately 4,600 square feet of office space for its corporate headquarters in New York, New York. The lease commenced on February 1, 2020. The term of the initial lease was 24 months from the commencement date, provided for annual rent increases, and did not provide us the right to early terminate or extend our lease terms. During August 2021, we entered into a first amendment of the New York office lease, to commence for a
period of three years upon landlord’s substantial completion of adequate substitution space. On January 25, 2022, the substitution space was substantially completed and the new expiration date was February 28, 2025. During July 2022, we entered into a second amendment of the New York office lease, to add space to the existing premises and increase the annual fixed rent through the existing expiration date. The new fixed rent commenced upon the landlord’s substantial completion of the additional space, which occurred on September 19, 2022. On June 23, 2023, the Company notified the landlord of its election to early terminate the lease effective as of March 31, 2024, pursuant to the terms set forth in the lease. In connection with such early termination election, the Company paid the landlord a termination payment as set forth in the lease. During September 2023, we entered into a fourth amendment of the New York office lease, which provides for (among other things): (a) the surrender a portion of the premises (Unit 602) effective as of March 31, 2024; (b) the rescission of the early termination election as it relates to the remaining portion of the premises (Unit 601); (c) an extension of the lease term with respect to Unit 601 for 40 months commencing on April 1, 2024 and expiring on July 31, 2027; and (d) annual rent increases, with no right to early terminate or extend the lease. Acacia terminated the lease in September 2025. In August 2025, Acacia entered into an office lease agreement with 7 Third Avenue Leasehold LLC. Pursuant to the lease, we have leased approximately 5,300 square feet of office space for our corporate headquarters in New York, New York. The lease commenced on September 15, 2025 and is scheduled to expire in January 31, 2031. The lease provides for annual rent increases and does not provide the right to early terminate or extend the lease term.
On April 9, 2024, Benchmark entered into a building lease agreement with Luzzatto Oaks, LLC. Pursuant to the lease, Benchmark has leased 2,663 square feet of office space in Austin, Texas. The lease commenced on May 1, 2024. The term of the lease is 39 months from the commencement date, provides for annual rent increases, and does not provide the right to early terminate or extend the lease terms. Benchmark also leases certain equipment and vehicles used in its oil and gas operations under arrangements that are accounted for as finance leases. These leases generally have terms ranging from one to several years and may include options to renew or extend the lease term. Finance lease assets are included in property, plant and equipment, net in the consolidated balance sheet.
Deflecto leases various land, buildings, offices and equipment. Certain of these leases contain various options to renew and expire at varying dates through December 2031. Leases are executed in the United States, United Kingdom, Canada and China. The exercise of lease renewal options is at the Deflecto’s sole discretion. Deflecto regularly evaluates the renewal options and when they are reasonably certain of exercise, Deflecto includes the renewal period in the lease term.
Printronix conducts its foreign and domestic operations using leased facilities under non-cancelable operating leases that expire at various dates through December 2028. Leases are executed in the United States, Europe, China, Singapore and Malaysia. Printronix has leased 73,649 square feet of facilities space. Lease term varies and may provide for annual rent increases and provide the right to early termination under certain circumstances or extend the lease.
Weighted-Average Remaining TermWeighted-Average Discount Rate
Balance at December 31, 2024
Operating leases3.8 years6 %
Finance leases3.5 years7 %
Balance at December 31, 2025
Operating leases3.8 years6 %
Finance leases3.0 years7 %
The Company’s operating lease costs were $4.9 million and $1.8 million for the years ended December 31, 2025 and 2024, respectively.
The table below presents aggregate future minimum lease payments due under the Company’s leases discussed above, reconciled to long-term lease liabilities and short-term lease liabilities (included in accrued expenses and other current liabilities) included in the consolidated balance sheet as of December 31, 2025 (in thousands):
Years Ending December 31,Operating LeasesFinance Leases
2026$2,272 $360 
20274,326 356 
20282,667 301 
20292,146 56 
20301,644 — 
Thereafter800 — 
Total minimum payments13,855 1,073 
Less: short-term lease liabilities(4,181)(305)
Less: present value discount(1,250)(101)
Long-term lease liabilities$8,424 $667 
LEASES LEASES
Facility Leases
Acacia primarily leases office facilities under operating lease arrangements that will end in various years through January 2031.
On June 7, 2019, Acacia entered into a building lease agreement with Jamboree Center 4 LLC. Pursuant to the lease, we had leased 8,293 square feet of office space in Irvine, California. The lease commenced on August 1, 2019. The term of the lease was 60 months from the commencement date, provided for annual rent increases, and did not provide us the right to early terminate or extend our lease terms. The lease expired on July 31, 2024, and was not renewed or extended. On April 29, 2024, Acacia entered into a building lease agreement with Metro Pointe 13580 Lot Two, a California Limited Partnership. Pursuant to the lease, we have leased 1,820 square feet of office space in Costa Mesa, California. The lease commenced on July 1, 2024. The term of the lease is 38 months from the commencement date, provides for annual rent increases, and does not provide us the right to early terminate or extend our lease terms.
On January 7, 2020, Acacia entered into a building lease agreement with Sage Realty Corporation. Pursuant to the lease, as amended, Acacia has leased approximately 4,600 square feet of office space for its corporate headquarters in New York, New York. The lease commenced on February 1, 2020. The term of the initial lease was 24 months from the commencement date, provided for annual rent increases, and did not provide us the right to early terminate or extend our lease terms. During August 2021, we entered into a first amendment of the New York office lease, to commence for a
period of three years upon landlord’s substantial completion of adequate substitution space. On January 25, 2022, the substitution space was substantially completed and the new expiration date was February 28, 2025. During July 2022, we entered into a second amendment of the New York office lease, to add space to the existing premises and increase the annual fixed rent through the existing expiration date. The new fixed rent commenced upon the landlord’s substantial completion of the additional space, which occurred on September 19, 2022. On June 23, 2023, the Company notified the landlord of its election to early terminate the lease effective as of March 31, 2024, pursuant to the terms set forth in the lease. In connection with such early termination election, the Company paid the landlord a termination payment as set forth in the lease. During September 2023, we entered into a fourth amendment of the New York office lease, which provides for (among other things): (a) the surrender a portion of the premises (Unit 602) effective as of March 31, 2024; (b) the rescission of the early termination election as it relates to the remaining portion of the premises (Unit 601); (c) an extension of the lease term with respect to Unit 601 for 40 months commencing on April 1, 2024 and expiring on July 31, 2027; and (d) annual rent increases, with no right to early terminate or extend the lease. Acacia terminated the lease in September 2025. In August 2025, Acacia entered into an office lease agreement with 7 Third Avenue Leasehold LLC. Pursuant to the lease, we have leased approximately 5,300 square feet of office space for our corporate headquarters in New York, New York. The lease commenced on September 15, 2025 and is scheduled to expire in January 31, 2031. The lease provides for annual rent increases and does not provide the right to early terminate or extend the lease term.
On April 9, 2024, Benchmark entered into a building lease agreement with Luzzatto Oaks, LLC. Pursuant to the lease, Benchmark has leased 2,663 square feet of office space in Austin, Texas. The lease commenced on May 1, 2024. The term of the lease is 39 months from the commencement date, provides for annual rent increases, and does not provide the right to early terminate or extend the lease terms. Benchmark also leases certain equipment and vehicles used in its oil and gas operations under arrangements that are accounted for as finance leases. These leases generally have terms ranging from one to several years and may include options to renew or extend the lease term. Finance lease assets are included in property, plant and equipment, net in the consolidated balance sheet.
Deflecto leases various land, buildings, offices and equipment. Certain of these leases contain various options to renew and expire at varying dates through December 2031. Leases are executed in the United States, United Kingdom, Canada and China. The exercise of lease renewal options is at the Deflecto’s sole discretion. Deflecto regularly evaluates the renewal options and when they are reasonably certain of exercise, Deflecto includes the renewal period in the lease term.
Printronix conducts its foreign and domestic operations using leased facilities under non-cancelable operating leases that expire at various dates through December 2028. Leases are executed in the United States, Europe, China, Singapore and Malaysia. Printronix has leased 73,649 square feet of facilities space. Lease term varies and may provide for annual rent increases and provide the right to early termination under certain circumstances or extend the lease.
Weighted-Average Remaining TermWeighted-Average Discount Rate
Balance at December 31, 2024
Operating leases3.8 years6 %
Finance leases3.5 years7 %
Balance at December 31, 2025
Operating leases3.8 years6 %
Finance leases3.0 years7 %
The Company’s operating lease costs were $4.9 million and $1.8 million for the years ended December 31, 2025 and 2024, respectively.
The table below presents aggregate future minimum lease payments due under the Company’s leases discussed above, reconciled to long-term lease liabilities and short-term lease liabilities (included in accrued expenses and other current liabilities) included in the consolidated balance sheet as of December 31, 2025 (in thousands):
Years Ending December 31,Operating LeasesFinance Leases
2026$2,272 $360 
20274,326 356 
20282,667 301 
20292,146 56 
20301,644 — 
Thereafter800 — 
Total minimum payments13,855 1,073 
Less: short-term lease liabilities(4,181)(305)
Less: present value discount(1,250)(101)
Long-term lease liabilities$8,424 $667