Leases (Tables)

3 Months Ended

Mar. 31, 2026

The table below comprises lease expenses for the three months ended March 31, 2026 and 2025:


	Three Months Ended March 31,
	2026		2025
Components of total lease cost:
Operating lease expense	$	1,419,699	$	1,322,518
Finance lease expense:
Amortization of right-of-use assets	1,359,556		1,241,443
Interest on lease liabilities	248,568		220,055
Finance lease expense	1,608,124		1,461,498
Short-term lease expense	90,027		367,623
Total lease cost	$	3,117,850	$	3,151,639

The table below presents lease payments for the three months ended March 31, 2026 and 2025:


	Three Months Ended March 31,
	2026		2025
Components of total lease payments:
Operating lease payment	$	1,462,549	$	1,070,531
Finance lease payment	1,403,655		1,296,887
Total lease payments	$	2,866,204	$	2,367,418

Schedule of Assets and Liabilities, Lessee

Right-of-use assets and lease liabilities for the Company’s operating leases were recorded in the unaudited Condensed Consolidated Balance Sheets as follows:


	March 31, 2026		December 31, 2025
Assets
Lease right-of-use assets	$	10,248,516	$	11,520,781
Total lease assets	$	10,248,516	$	11,520,781

Liabilities
Current liabilities:
Lease liability - current portion	$	4,288,907	$	4,650,953
Noncurrent liabilities:
Lease liability, net of current portion	6,610,293		7,563,664
Total lease liability	$	10,899,200	$	12,214,617

Lease Terms and Discount Rate

The table below presents certain information related to the weighted average remaining lease term and the weighted average discount rate for the Company’s operating leases as of March 31, 2026:


Weighted average remaining lease term (in years) - operating leases	2.95
Weighted average discount rate - operating leases	5.98	%

Right-of-use assets and lease liabilities for the Company’s finance leases were recorded in the unaudited Condensed Consolidated Balance Sheets as follows:


	March 31, 2026		December 31, 2025
Assets
Lease right-of-use assets	$	18,120,270	$	17,420,424
Total lease assets	$	18,120,270	$	17,420,424

Liabilities
Current liabilities:
Lease liability - current portion	$	5,845,230	$	5,509,687
Noncurrent liabilities:
Lease liability, net of current portion	11,541,541		11,217,907
Total lease liability	$	17,386,771	$	16,727,594

Lease Terms and Discount Rate

The table below presents certain information related to the weighted average remaining lease term and the weighted average discount rate for the Company’s finance leases as of March 31, 2026:


Weighted average remaining lease term (in years) - finance leases	3.35
Weighted average discount rate - finance leases	5.90	%

Schedule of Future Minimum Lease Payments Under the Operating Leases

Future minimum lease payments under the operating leases as of March 31, 2026 were as follows:


	Operating Leases
2026, remaining	$	3,777,638
2027	3,715,861
2028	2,729,772
2029	1,353,338
2030	152,823
2031	62,895
Thereafter	141,514
Total future minimum lease payments	11,933,841
Less effects of discounting	(1,034,641)
Present value of future minimum lease payments	$	10,899,200

Schedule of Finance Lease, Liability, Fiscal Year Maturity

Future minimum lease payments under the finance leases as of March 31, 2026 are as follows:


	Finance Leases
2026, remaining	$	5,139,904
2027	5,720,498
2028	4,445,063
2029	2,805,431
2030	1,036,748
2031	70,634
Total future minimum lease payments	19,218,278
Less effects of discounting	(1,831,507)
Present value of future minimum lease payments	$	17,386,771

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