Commitments and Contingencies (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Commitments and Contingencies Disclosure [Abstract] |
|
| Schedule of Lease, Cost |
Supplemental information pertaining to the Company’s leases in which the Company is the lessee is as follows:
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
|
2025 |
|
|
2024 |
|
Cash payments included in the measurement of lease liabilities: |
|
|
|
|
|
|
Operating cash flows from operating leases |
|
$ |
2,410,000 |
|
|
$ |
2,754,000 |
|
Operating cash flows from finance leases |
|
$ |
267,000 |
|
|
$ |
271,000 |
|
Financing cash flows from finance leases |
|
$ |
71,000 |
|
|
$ |
58,000 |
|
Weighted-average remaining lease term: |
|
|
|
|
|
|
Operating leases |
|
4.93 years |
|
|
1.54 years |
|
Finance leases |
|
15.17 years |
|
|
16.17 years |
|
Weighted-average discount rate: |
|
|
|
|
|
|
Operating leases |
|
|
10.9 |
% |
|
|
9.1 |
% |
Finance leases |
|
|
7.1 |
% |
|
|
7.1 |
% |
Noncash lease liabilities resulting from obtaining right-of-use assets |
|
|
|
|
|
|
Operating leases |
|
$ |
2,966,000 |
|
|
$ |
— |
|
The following table provides the components of the Company’s lease cost:
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
|
2025 |
|
|
2024 |
|
Operating leases |
|
|
|
|
|
|
Operating lease costs |
|
$ |
1,517,000 |
|
|
$ |
2,632,000 |
|
Variable lease costs |
|
|
652,000 |
|
|
|
791,000 |
|
Total rent expense |
|
|
2,169,000 |
|
|
|
3,423,000 |
|
Finance lease |
|
|
|
|
|
|
Amortization of right of use assets |
|
|
204,000 |
|
|
|
204,000 |
|
Interest on lease liabilities |
|
|
267,000 |
|
|
|
271,000 |
|
Variable lease costs |
|
|
38,000 |
|
|
|
32,000 |
|
Total finance lease costs |
|
|
509,000 |
|
|
|
507,000 |
|
Gross sublease income |
|
|
(178,000 |
) |
|
|
(176,000 |
) |
Total lease costs |
|
$ |
2,500,000 |
|
|
$ |
3,754,000 |
|
|
| Schedule of Lessee, Operating Lease, Liability, Maturity |
The future minimum payments under non-cancellable operating and finance leases as of December 31, 2025, are as follows:
|
|
|
|
|
|
|
|
|
|
|
Operating Leases |
|
|
Finance Lease |
|
2026 |
|
|
782,000 |
|
|
|
346,000 |
|
2027 |
|
|
769,000 |
|
|
|
357,000 |
|
2028 |
|
|
804,000 |
|
|
|
365,000 |
|
2029 |
|
|
840,000 |
|
|
|
373,000 |
|
2030 |
|
|
1,052,000 |
|
|
|
382,000 |
|
Thereafter |
|
|
— |
|
|
|
4,474,000 |
|
Total future lease payments |
|
|
4,247,000 |
|
|
|
6,297,000 |
|
Less: imputed interest |
|
|
(1,061,000 |
) |
|
|
(2,568,000 |
) |
Total lease liabilities |
|
|
3,186,000 |
|
|
|
3,729,000 |
|
Less: lease liability, current portion |
|
|
697,000 |
|
|
|
249,000 |
|
Lease liability, net of current portion |
|
$ |
2,489,000 |
|
|
$ |
3,480,000 |
|
|
| Schedule of Lessee, Finance Lease, Liabilitiy, Maturity |
The future minimum payments under non-cancellable operating and finance leases as of December 31, 2025, are as follows:
|
|
|
|
|
|
|
|
|
|
|
Operating Leases |
|
|
Finance Lease |
|
2026 |
|
|
782,000 |
|
|
|
346,000 |
|
2027 |
|
|
769,000 |
|
|
|
357,000 |
|
2028 |
|
|
804,000 |
|
|
|
365,000 |
|
2029 |
|
|
840,000 |
|
|
|
373,000 |
|
2030 |
|
|
1,052,000 |
|
|
|
382,000 |
|
Thereafter |
|
|
— |
|
|
|
4,474,000 |
|
Total future lease payments |
|
|
4,247,000 |
|
|
|
6,297,000 |
|
Less: imputed interest |
|
|
(1,061,000 |
) |
|
|
(2,568,000 |
) |
Total lease liabilities |
|
|
3,186,000 |
|
|
|
3,729,000 |
|
Less: lease liability, current portion |
|
|
697,000 |
|
|
|
249,000 |
|
Lease liability, net of current portion |
|
$ |
2,489,000 |
|
|
$ |
3,480,000 |
|
|
| Schedule of Restructuring Charges |
The following is a summary of restructuring charges associated with the reduction in force for the year ended December 31, 2024 including severance and other exit related costs:
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
|
2024 |
|
Severance |
|
$ |
5,475,000 |
|
Lease related expenses |
|
|
374,000 |
|
Contracted services and consulting |
|
|
2,173,000 |
|
Total restructuring charges included in operating expenses |
|
$ |
8,022,000 |
|
COGS restructuring |
|
$ |
157,000 |
|
Total restructuring charges |
|
$ |
8,179,000 |
|
The following restructuring liability activity was recorded in connection with the reductions in force for the year ended December 31, 2025 included within accrued expenses on the consolidated financial statements:
|
|
|
|
|
Accrued restructuring as of January 1, 2024 |
|
$ |
83,000 |
|
Restructuring charges incurred during the period |
|
$ |
8,179,000 |
|
Cash payments |
|
$ |
(7,701,000 |
) |
Accrued restructuring as of December 31, 2024 |
|
$ |
561,000 |
|
Restructuring charges incurred during the period |
|
|
— |
|
Cash payments |
|
$ |
(302,000 |
) |
Accrued restructuring as of December 31, 2025 |
|
$ |
259,000 |
|
|