v3.25.2
LEASES (Tables)
 6 Months Ended
Jun. 30, 2025
Leases  
SUMMARY OF OPERATING LEASE LIABILITIES

The following table provides a summary of the Company’s operating lease liabilities (in thousands):

 

   June 30, 2025   December 31, 2024 
         
Current operating lease liability  $537   $823 
Non-current operating lease liability   3,978    3,262 
Total operating lease liability  $4,515   $4,085 
SCHEDULE OF COMPONENTS OF LEASE COST

The following table provides a summary of the components of lease costs and rent (in thousands):

 

   2025   2024   2025   2024 
  

For the three months ended June 30,

  

For the six months ended June 30,

 
   2025   2024   2025   2024 
                 
Operating lease cost  $380   $328   $752   $662 
Variable lease cost   79    122    195    196 
Short-term lease cost   11    11    19    34 
Total operating lease costs  $470   $461   $966   $892 
SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES

Future minimum lease payments and obligations, which do not include short-term leases, related to the Company’s operating lease liabilities as of June 30, 2025 were as follows (in thousands):

 

Future minimum lease payments and obligations 

Operating

Leases

 
     
2025, remainder  $— 
2026   1,102 
2027   1,146 
2028   1,172 
2029   1,199 
Thereafter   1,225 
Total undiscounted operating lease payments   5,844 
Less: imputed interest   1,329 
Present value of operating lease liabilities  $4,515 
SCHEDULE OF FUTURE CASH RECEIPTS FROM OPERATING SUBLEASE

Future cash receipts from the Company’s sublease agreements as of June 30, 2025 are as follows (in thousands):

 

   Operating 
Future cash receipts  Subleases 
     
2025, remainder  $140 
Total future cash receipts  $140