v3.25.3
Leases (Tables)
 9 Months Ended
Sep. 30, 2025
Lessee Disclosure [Abstract]  
Summary of Components of Lease Expense

The components of lease expense were as follows:

 

 

 

For the Nine Months Ended

 

 

 

September 30,

 

 

 

2025

 

 

2024

 

Right-of-Use lease cost:

 

 

 

 

 

 

Amortization of right-of-use asset

 

$

2,849,375

 

 

$

1,423,179

 
Schedule of Supplemental Balance Sheet Information

Supplemental balance sheet information related to leases was as follows:

 

 

 

 

 

 

 

 

 

 

September 30, 2025

 

 

December 31, 2024

 

Operating lease:

 

 

 

 

 

 

Operating lease assets

 

$

1,169,271

 

 

$

16,459,215

 

 

 

 

 

 

 

 

Current portion of operating lease liability

 

$

1,551,711

 

 

$

2,599,102

 

Noncurrent operating lease liability

 

 

1,123,302

 

 

 

15,193,129

 

Total operating lease liability

 

$

2,675,013

 

 

$

17,792,231

 

 

 

 

 

 

 

 

Weighted average remaining lease term:

 

 

 

 

 

 

Operating leases (in years)

 

 

0.7

 

 

 

4.8

 

Weighted average discount rate:

 

 

 

 

 

 

Operating lease

 

 

8.45

%

 

 

10.25

%

 
Summary of Supplemental Cash Flow and Other Information

Supplemental cash flow and other information related to operating leases was as follows:

 

 

 

For the Nine Months Ended

 

 

 

September 30,

 

 

 

2025

 

 

2024

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

Operating cash flows used for operating leases

 

$

1,657,897

 

 

$

1,553,753

 

 

 

 

 

 

 

 
Schedule of Future Minimum Lease Payments

The future minimum lease payments due under operating leases as of September 30, 2025 is as follows:

 

Fiscal Year Ending

 

Minimum Lease

 

December 31,

 

Commitments

 

2025

 

$

1,120,115

 

2026

 

 

573,171

 

2027

 

 

145,242

 

2028

 

 

149,600

 

2029 and thereafter

 

 

1,118,148

 

Total

 

$

3,106,276

 

Less effects of discounting

 

 

(431,263

)

Lease liability recognized

 

$

2,675,013