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

LEASES (Tables)

v3.26.1
LEASES (Tables)
12 Months Ended
Dec. 31, 2025
Leases  
SUMMARY OF OPERATING LEASE LIABILITIES

The following table provides a summary of the Company’s operating lease liabilities (in thousands):

 

    2025     2024  
    As of December 31,  
    2025     2024  
             
Current operating lease liability   $ 864     $ 823  
Non-current operating lease liability     4,069       3,262  
Total operating lease liability   $ 4,933     $ 4,085  
SCHEDULE OF COMPONENTS OF LEASE COST

The following table provides a summary of the components of lease costs and rent (in thousands):

 

    2025     2024  
    For the year ended December 31,  
    2025     2024  
             
Operating lease cost   $ 1,401     $ 1,288  
Variable lease cost     421       380  
Short-term lease cost     46       49  
Total operating lease costs   $ 1,868     $ 1,717  
SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES

Future minimum lease payments and obligations, which do not include short-term leases, related to the Company’s operating lease liabilities as of December 31, 2025 were as follows (in thousands):

 

Future minimum lease payments and obligations   Operating Leases  
       
2026   $ 864  
2027     1,295  
2028     1,325  
2029     1,357  
2030     1,387  
Total undiscounted operating lease payments     6,228  
Less: imputed interest     1,295  
Present value of operating lease liabilities   $ 4,933