v3.25.1
Leases
3 Months Ended
Mar. 31, 2025
Leases [Abstract]  
Leases Leases
As of March 31, 2025, future minimum commitments under the Company’s operating leases with lease terms in excess of 12 months were as follows:
(in thousands)
Operating Leases
2025 (remaining nine months)$1,127 
20261,884 
20271,919 
20281,954 
20291,990 
Thereafter9,226 
Future minimum operating lease payments18,100 
Less: Interest(8,438)
Present value of lease liability$9,662 
As of March 31, 2025 and December 31, 2024, the Company’s weighted-average remaining lease term for operating leases was 10.6 years and 12.2 years, respectively, and the Company’s weighted-average discount rate for operating leases was 9.6% and 9.5% as of March 31, 2025 and December 31, 2024, respectively.
The components of the Company’s lease expense are as follows:

Three Months Ended March 31,
(in thousands)20252024
Lease cost:
Operating lease expense$426 $299 
Variable lease expense64 40 
Total lease expense$490 $339