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

Accounts Payable and Accrued Expenses

v3.26.1
Accounts Payable and Accrued Expenses
12 Months Ended
Dec. 31, 2025
Payables and Accruals [Abstract]  
Accounts Payable and Accrued Expenses

5. Accounts Payable and Accrued Expenses

 

Accounts payable and accrued expenses totaled $1.6 million as of December 31, 2025, compared to $1.4 million as of December 31, 2024. The decrease was primarily attributable to the timing of vendor invoicing and payments. The Company maintains a vacation policy under which employee vacation benefits do not vest, do not accumulate, and expire at the end of each calendar year if unused. Accordingly, the Company does not record an accrued vacation liability at year-end.