v3.25.2
Leases
6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Leases

16. LEASES

The Company has operating leases for its various facilities. As of June 30, 2025 and December 31, 2024, the Company's weighted-average remaining lease term was 4.4 years and 5.2 years, respectively. As of June 30, 2025 and December 31, 2024, the weighted-average discount rate was 7.8% and 8.2%, respectively.

The components of lease cost were as follows (in thousands):

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Operating lease cost(1)

 

 

 

 

 

 

 

 

 

 

 

 

Fixed lease cost

 

$

989

 

 

$

620

 

 

$

1,659

 

 

$

1,174

 

Short-term cost

 

 

147

 

 

 

35

 

 

 

231

 

 

 

80

 

Total operating lease cost

 

$

1,136

 

 

$

655

 

 

$

1,890

 

 

$

1,254

 

 

(1)
The lease costs are reflected in the condensed consolidated statements of operations as follows (in thousands):

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Cost of revenue

 

$

176

 

 

$

60

 

 

$

265

 

 

$

123

 

Research and development

 

 

686

 

 

 

403

 

 

 

1,179

 

 

 

737

 

Sales and marketing

 

 

147

 

 

 

35

 

 

 

235

 

 

 

56

 

General and administrative

 

 

127

 

 

 

157

 

 

 

211

 

 

 

338

 

Total operating lease cost

 

$

1,136

 

 

$

655

 

 

$

1,890

 

 

$

1,254

 

 

Supplemental cash flow and other information related to operating leases was as follows (in thousands):

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Cash payments (receipts) included in the measurement of
   operating lease liabilities, net of lease incentives

 

$

742

 

 

$

226

 

 

$

1,543

 

 

$

(2,097

)

 

 

As of June 30, 2025, maturities of operating lease liabilities are as follows (in thousands):

 

Amount

 

Year Ending December 31,

 

 

 

2025

 

$

2,984

 

2026

 

 

5,498

 

2027

 

 

4,411

 

2028

 

 

4,479

 

2029

 

 

3,983

 

Thereafter

 

 

1,510

 

Total lease payments

 

$

22,865

 

Less: imputed interest

 

 

(3,600

)

Present value of operating lease liabilities

 

$

19,265