v3.25.2
Restructuring
6 Months Ended
Jun. 30, 2025
Restructuring and Related Activities [Abstract]  
Restructuring

16. Restructuring

On May 7, 2025, the Company initiated a strategic plan to streamline its operations, including a reduction in Company's workforce by 19%, or 21 positions (the "Workforce Reduction"). During the three months ended June 30, 2025, the Company recorded one-time severance charges in connection with the Workforce Reduction, consisting of cash expenditure for employee separation costs of $1.2 million. All activities related to the Workforce Reduction are expected to be substantially completed during the third quarter of 2025. Restructuring cost accruals are included under the caption “accrued expenses and other current liabilities” in the Company's consolidated balance sheet. Restructuring costs are recognized as an operating expense within the condensed consolidated statement of operations and comprehensive loss and are classified based on the Company’s classification policy for each category of operating expense.

 

The following is a summary of the activity for the Workforce Reduction:

 

 

Employee
separation
costs

 

Balance at December 31, 2024

 

$

 

Accruals

 

 

 

Cash payments

 

 

 

Balance at March 31, 2025

 

 

 

Accruals

 

 

1,233

 

Cash payments

 

 

(456

)

Balance at June 30, 2025

 

$

777