v3.26.1
Commitments and Contingencies (Tables)
3 Months Ended
Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]  
Future minimum annual lease payments

Future minimum annual lease payments for all operating leases of the Company are as follows as of March 31, 2026 (in thousands):

 

Remainder of 2026

 

$

5,591

 

2027

 

 

7,051

 

2028

 

 

6,275

 

2029

 

 

6,193

 

2030

 

 

6,305

 

Thereafter

 

 

4,404

 

Total undiscounted lease payments

 

 

35,819

 

Less: imputed interest

 

 

(6,170

)

Operating lease liabilities

 

 

29,649

 

Less: current portion of operating lease liabilities

 

 

(6,645

)

Operating lease liabilities, less current portion

 

$

23,004

 

Summary of Weighted-Average Remaining Lease Term and Discount Rate

The Company’s weighted average remaining lease term and weighted average discount rate as of March 31, 2026 and December 31, 2025 are as follows:

 

 

 

March 31,
2026

 

 

December 31,
2025

 

Weighted-average remaining lease term (years)

 

 

5.2

 

 

 

5.5

 

Weighted-average discount rate

 

 

7.0

%

 

 

7.0

%

Summary of Operating Leases

Information related to the Company’s operating leases is as follows (in thousands):

 

 

 

Three Months Ended
March 31,

 

 

 

2026

 

 

2025

 

Rent expense

 

$

1,963

 

 

$

1,825

 

Cash paid for amounts included in measurement of lease liabilities

 

$

1,834

 

 

$

1,781