Subsequent Events |
6 Months Ended |
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Jun. 30, 2025 | |
Subsequent Events [Abstract] | |
Subsequent Events | 15. Subsequent Events One Big Beautiful Bill Act On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was signed into law. This legislation includes provisions allowing for the immediate expensing of domestic U.S. research and development costs, the immediate expensing of certain capital expenditures, and other significant changes to the U.S. tax code. We expect the impact on our tax expense for the third and fourth quarters of 2025 to be immaterial, primarily due to net operating loss carryforwards. We continue to evaluate the overall impact of the new legislation on our consolidated financial statements, including provisions that become effective beginning in 2026, and will evaluate the impact on future periods as further guidance becomes available. San Mateo Lease In July 2025, we entered into a sublease agreement for adjacent office space at our headquarters, with a lease term expected to commence no later than November 2025 and end in November 2028. Concurrently, we entered into an agreement with the primary landlord to extend the lease term of our existing headquarters and to expand into the sublease space following the sublease's expiration in November 2028. Both the extended lease term and the expanded office space will expire in July 2031. The total lease commitment, net of expected tenant incentives, is estimated to be approximately $18.0 million.
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