v3.25.2
Leases (Tables)
6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Schedule of Operating Lease Expense

The following table summarizes operating lease expense for the three and six months ended June 30, 2025 and 2024 (in thousands):

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Lease expense:

 

 

 

 

 

 

 

 

 

 

 

 

Operating lease expense

 

$

666

 

 

$

783

 

 

$

1,356

 

 

$

1,582

 

Schedule of Weighted Average Lease Term and Discount Rate for Operating Lease

The following table summarizes the lease term and discount rate for operating leases:

 

 

June 30,

 

 

December 31,

 

 

2025

 

 

2024

 

Other information:

 

 

 

 

 

 

Weighted-average remaining lease term

 

 

7.50

 

 

 

8.00

 

Weighted-average discount rate

 

 

7.4

%

 

 

7.4

%

Summary of Cash Paid for Amounts Included in Measurement of Lease Liabilities

The following table summarizes the cash paid for amounts included in the measurement of lease liabilities (in thousands):

 

 

June 30,
2025

 

Cash paid for amounts included in the measurement of operating lease liabilities (operating cash flows)

 

$

1,847

 

 

Schedule of Future Minimum Noncancelable Operating Lease Payments

At June 30, 2025, the future minimum noncancelable operating lease payments were as follows (in thousands):

 

 

June 30,
2025

 

Years ending December 31:

 

 

 

2025

 

 

1,849

 

2026

 

 

3,793

 

2027

 

 

3,864

 

2028

 

 

3,978

 

2029

 

 

4,095

 

Thereafter

 

 

13,021

 

Total undiscounted operating lease payments

 

 

30,600

 

Present value adjustment

 

 

(7,058

)

Operating lease liability

 

 

23,542

 

Less current portion of operating lease liability

 

 

3,630

 

Operating lease liability, net of current portion

 

$

19,912