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

Leases

v3.26.1
Leases
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases Leases
The Company has operating leases primarily for facility equipment. The Company also has a financing lease for intra-facility transport vehicles. Certain lease agreements include options to renew or terminate the lease, which are not reasonably certain to be exercised and, therefore, are not factored into the determination of lease payments.
The components of lease expense were as follows:

Year Ended December 31,
2025
2024
(in thousands)
Operating lease cost
$
35
$
83
Finance lease cost:
Amortization of right-of-use assets
63
37
Interest on lease obligations
36
24
Short-term lease cost
630
723
Total lease expense
$
764
$
867
As of December 31, 2025, the weighted average remaining lease term and weighted average discount rate for all operating leases was 1.8 years and 7.3%, respectively. As of December 31, 2025, the weighted average remaining lease term and weighted average discount rate for all finance leases was 3.4 years and 13.8%, respectively.
As of December 31, 2025, the maturities of lease liabilities under non-cancelable operating and finance leases were as follows:

Operating Leases
Finance Leases
(in thousands)
(in thousands)
2026
$
35
$
86
2027
26
86
2028
—
86
2029
—
29
Total minimum lease payments
61
287
Less: imputed interest
(4)
(51)
Total
$
57
$
236