v3.25.4
Leases (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Lease-Related Costs
Lease-related costs for the years ended December 31, 2025, 2024 and 2023 are as follows (in thousands):
202520242023
Operating lease cost$3,036 $3,518 $3,478 
Variable lease cost1,591 1,786 1,678 
Total lease cost$4,627 $5,304 $5,156 
Maturities of Operating Lease Liabilities
As of December 31, 2025, the maturities of the operating lease liabilities and a reconciliation to the present value of lease liabilities were as follows (dollars in thousands):
 Remaining
Lease Payments
2026$2,090 
20271,991 
2028354 
2029119 
Total remaining undiscounted lease payments$4,554 
Less: Imputed interest(388)
Total operating lease liabilities4,166 
Less: current portion(1,844)
Long-term operating lease liabilities $2,322 
Weighted-average remaining lease term (in years) 2.2
Weighted-average discount rate 8.1%
Supplemental Cash Flow Information
The following table provides certain cash flow and supplemental cash flow information related to the Company’s right-of-use assets and lease liabilities for the years ended December 31, 2025 and 2024 (in thousands):
 20252024
Operating cash paid to settle operating lease liabilities$3,910 $4,436 
Right-of-use assets obtained in exchange for lease liabilities(1)
$— $1,047 
Derecognition of right-of-use asset and lease liability due to operating lease termination$1,687 $— 
(1) The year ended December 31, 2024 includes an increase in right-of-use assets due to the change in estimated timing of receipt of reimbursements for tenant improvements related to the New Haven, Connecticut lease.