v3.25.1
Commitments and Contingencies (Tables)
3 Months Ended
Mar. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Components of Lease Expense

The elements of lease expense were as follows:

 

 

 

For the Three Months Ended March 31,

 

(in thousands)

 

2025

 

 

2024

 

Lease Cost

 

 

 

 

 

 

Operating lease cost

 

$

482

 

 

$

483

 

Short-term lease cost

 

 

195

 

 

 

189

 

Variable lease cost

 

 

97

 

 

 

81

 

Sublease income

 

 

 

 

 

(102

)

Total Lease Cost

 

$

774

 

 

$

651

 

 

 

 

 

 

 

 

Other Information

 

 

 

 

 

 

Operating cash flows used for operating leases

 

 

484

 

 

 

462

 

 

 

 

 

 

 

 

Operating Leases

 

 

 

 

 

 

Weighted-average remaining lease term (in years)

 

 

4.3

 

 

 

5.3

 

 

 

 

 

 

 

 

Operating Leases

 

 

 

 

 

 

Weighted-average discount rate

 

 

9.2

%

 

 

9.2

%

Schedule of Future Lease Payments under Non-Cancelable Leases

Future minimum lease payments under non-cancelable operating leases with terms of greater than one year as of March 31, 2025, were as follows:

 

(in thousands)

 

Amount

 

2025 (remainder of year)

 

$

1,477

 

2026

 

 

2,019

 

2027

 

 

2,078

 

2028

 

 

2,140

 

2029

 

 

1,269

 

Total lease payments

 

$

8,983

 

Less: imputed interest

 

 

1,572

 

Total operating lease liabilities

 

$

7,411