v3.25.1
Leases (Tables)
 3 Months Ended
Mar. 31, 2025
Leases [Abstract]  
Schedule of Lease, Cost

The components of lease expense and supplemental information were as follows (in thousands):

 

 

 

Three Months Ended March 31,

 

 

 

2025

 

 

2024

 

Operating lease costs

 

$

959

 

 

$

1,038

 

Variable lease costs

 

 

221

 

 

 

174

 

Short-term lease costs

 

 

48

 

 

 

3

 

Total lease costs

 

$

1,228

 

 

$

1,215

 

 

 

 

Three Months Ended March 31,

 

 

 

2025

 

 

2024

 

Weighted-average remaining lease term (in years)

 

 

7.5

 

 

 

8.5

 

Weighted-average incremental borrowing rate

 

 

6.2

%

 

 

6.2

%

 
Schedule of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases is as follows (in thousands):

 

 

Three Months Ended March 31,

 

 

 

2025

 

 

2024

 

Cash paid for amounts included in the measurement of lease liabilities

 

$

961

 

 

$

1,006

 

 

 
Schedule of Future Minimum Commitments

As of March 31, 2025, future minimum commitments under the Company’s non-cancelable facility operating leases are as follows (in thousands):

 

Years ending December 31,

 

(in thousands)

 

2025 (remaining nine months)

 

$

2,890

 

2026

 

 

3,957

 

2027

 

 

4,072

 

2028

 

 

4,191

 

2029

 

 

4,312

 

Thereafter

 

 

12,562

 

Total undiscounted future minimum lease payments

 

 

31,984

 

Present value adjustment for minimum lease commitments

 

 

(6,580

)

Total operating lease liabilities

 

$

25,404