v3.25.2
Commitments and Contingencies (Tables)
6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Summary of Lease Costs

The following table contains a summary of the lease costs recognized under ASC 842 and other information pertaining to the Company’s leases 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 Costs

 

 

 

 

 

 

 

 

 

 

 

 

Operating lease costs

 

$

867

 

 

$

867

 

 

$

1,733

 

 

$

1,776

 

Variable lease costs

 

 

304

 

 

 

279

 

 

 

573

 

 

 

640

 

Total lease costs

 

$

1,171

 

 

$

1,146

 

 

$

2,306

 

 

$

2,416

 

 

 

Cash paid for amounts included in the measurement of lease liabilities—operating leases

 

 

 

 

$

1,633

 

 

$

1,585

 

Weighted-average remaining lease term—operating leases (years)

 

 

 

 

 

7.09

 

 

 

8.09

 

Weighted-average discount rate—operating leases

 

 

 

 

 

10.71

%

 

 

10.71

%

 

Summary of Future Minimum Commitments of Operating Lease Liabilities

The following table reconciles the future minimum commitments to the Company’s operating lease liabilities at June 30, 2025 (in thousands):

Operating lease payments as of June 30, 2025

 

2025

$

1,674

 

2026

 

3,405

 

2027

 

3,507

 

2028

 

3,611

 

2029

 

3,715

 

Thereafter

 

10,108

 

Total lease payments

 

26,020

 

Less: interest

 

(7,908

)

Total lease liabilities at June 30, 2025

 

18,112

 

Less: current portion of lease liabilities

 

3,196

 

Lease liabilities, net of current portion

$

14,916