Leases

6 Months Ended

Jun. 30, 2025

Note 7 — Leases

The Company’s future lease payments as of June 30, 2025, which are presented as operating lease liabilities, current portion and operating lease liabilities, less current portion on the Company’s unaudited condensed consolidated balance sheets are as follows:


2025 (remainder of year)	$	512
2026		998
2027		942
2028		19
2029		—
Total lease payments	$	2,471
Less: imputed interest		(218	)
Present value of lease liabilities	$	2,253

Supplemental disclosure of cash flow information related to the Company’s cash and non-cash activities with its leases are as follows:

	2025			2024
	Six Months Ended June 30,
	2025			2024
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	529		$	598
Non-cash investing and financing activities
Right-of-use assets obtained in exchange for new operating lease liabilities	$	34		$	2,285
Weighted-average remaining lease term - operating leases (in years)		2.47			3.33
Weighted-average discount rate - operating leases		7.925	%		7.875	%

As of June 30, 2025 and December 31, 2024, the Company’s right-of-use assets from operating leases were $2,238 and $2,637, respectively, which are reported in operating lease right-of-use assets in the unaudited condensed consolidated balance sheets. As of June 30, 2025 and December 31, 2024, the Company had outstanding operating lease obligations of $2,253 and $2,654, respectively, of which $871 and $854, respectively, are reported in operating lease liabilities, current portion and $1,382 and $1,800, respectively, are reported in operating lease liabilities less current portion in the Company’s unaudited condensed consolidated balance sheets. The Company calculates its incremental borrowing rates for specific lease terms, as a function of the financing terms the Company would likely receive on the open market.