Quarterly report [Sections 13 or 15(d)]

Leases (Tables)

v3.26.1
Leases (Tables)
 3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Schedule of Lease Expense and Other Supplemental Information
Lease expense consisted of the following for the three months ended March 31, 2026 and 2025 (in thousands):
Three Months Ended March 31,
2026 2025
Operating lease expense $ 623  $ 1,400 
Short-term lease expense 222  — 
Financing lease expense:
Amortization of right-of-use assets 6  35 
Interest on lease liabilities 1  5 
Total lease expense $ 852  $ 1,440 
Other supplemental information related to leases for the three months ended March 31, 2026 and 2025 and at March 31, 2026 and December 31, 2025 is as follows (in thousands):

Three Months Ended March 31,
2026 2025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases $ 855  $ 1,416 
Operating cash flows from financing leases 1  5 
Financing cash flows from financing leases 10  68 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases $ 24  $ 261 
Financing leases (25) — 

March 31, December 31,
2026 2025
Weighted-average remaining lease term:
Operating leases 4.1 years 3.5 years
Financing leases 1.3 years 1.5 years
Weighted-average discount rate:
Operating leases 9.8  % 9.8  %
Financing leases 10.0  % 10.1  %
Schedule of Supplemental Balance Sheet Information
Right of use assets and liabilities related to financing leases are recorded in the following line items on the unaudited condensed consolidated balance sheets at March 31, 2026 and December 31, 2025 (in thousands):

March 31, December 31,
2026 2025
Property, plant and equipment, net $ 72  $ 102 
Accrued expenses and other current liabilities 38  49 
Other liabilities 11  26 
Schedule of Finance Lease Liabilities
Maturities of lease liabilities at March 31, 2026 are as follows (in thousands):
Operating Leases Financing Leases
Remainder of 2026 $ 1,415  $ 30 
2027 979  21 
2028 252  — 
2029 52  — 
2030 52  — 
Thereafter 540  — 
Total lease payments 3,290  51 
Less: Present value discount 624  2 
Present value of lease payments $ 2,666  $ 49 
Schedule of Operating Lease Liabilities
Maturities of lease liabilities at March 31, 2026 are as follows (in thousands):
Operating Leases Financing Leases
Remainder of 2026 $ 1,415  $ 30 
2027 979  21 
2028 252  — 
2029 52  — 
2030 52  — 
Thereafter 540  — 
Total lease payments 3,290  51 
Less: Present value discount 624  2 
Present value of lease payments $ 2,666  $ 49 
Schedule of Lease Liability Maturity Outstanding Long-Term Leases
Maturities of lease payments for the Company’s outstanding long-term leases at March 31, 2026 are as follows (in thousands):
Remainder of 2026 $ 5,780 
2027 3,504 
2028 2,802 
2029 1,365 
2030 302 
Thereafter — 
Total lease payments $ 13,753