At the inception of an arrangement, the Company determines if an arrangement is, or contains, a lease based on facts and circumstances present in that arrangement. Lease classifications, recognition, and measurement are then determined at the lease commencement date.

The Company’s operating lease right-of-use (“ROU”) assets and operating lease liabilities include primarily leases for office and warehouse spaces used to conduct our business. Finance leases primarily consist of lab, processing and transport equipment used by our facilities’ operations.

The components of lease cost for the Company’s leases for the three and nine months ended September 30, 2025, and 2024 were as follows (in thousands):

Schedule of Components of Lease Cost

The weighted average remaining lease term and the weighted average discount rate for operating and finance leases as of September 30, 2025, were:

Schedule of Weighted Average Lease

The weighted average remaining lease term and the weighted average discount rate for operating and finance leases as of September 30, 2024, were:

The following table reconciles the undiscounted cash flows for the operating and finance leases as of September 30, 2025, to the operating and finance lease liabilities recorded on the balance sheet (in thousands):

Schedule of Operating and Finance Lease Liability Maturity

Supplemental cash flow and other information related to our leases were as follows for the three and nine months ended September 30, 2025, and 2024 (in thousands):

Schedule of Supplemental Cash Flow and Other Information Related to Leases

The reduction in ROU for the three and nine months ended September 30, 2024, as noted above was the result of the Company’s purchase of its Oak Ridge Environmental Waste Operations Center (“EWOC”) property which was previously accounted for under its operating leases.