The Company has non-cancelable operating leases for its offices located in the U.S. As of March 31, 2026, these leases expire on various dates between 2026 and 2030. Certain lease agreements include one or more options to renew, with renewal terms that can extend the lease up to two years after expiration. The Company has the right to exercise or forego the lease renewal options. The lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The following table presents the maturities and balance sheet information of the Company’s operating lease liabilities as of March 31, 2026 (in thousands, except lease term and discount rate):


	March 31, 2026
	Operating Leases			Finance Leases
2026	$	855		$	792
2027		912			616
2028		939			—
2029		967			—
2030		163			—
Thereafter		—			—
Total lease payments		3,836			1,408
Less: imputed interest		(627	)		(81	)
Total lease liabilities	$	3,209		$	1,327

Lease liabilities: current (i)	$	813		$	981
Lease liabilities: non-current (ii)		2,396			346
Total lease liabilities	$	3,209		$	1,327

Weighted average remaining lease term (in years)		3.7			1.3
Weighted average discount rate		9.6	%		8.5	%

(i)

Current lease liabilities are presented within accrued expenses and other current liabilities on the condensed consolidated balance sheets.

(ii)

Non-current lease liabilities are presented within other non-current liabilities on the condensed consolidated balance sheets.

The following table presents the components of lease costs for the three months ended March 31, 2026 and 2025 (in thousands):


	Three Months Ended
	March 31,
	2026		2025
Operating lease cost	$	227		292
Variable lease cost and other, net (i)		118		112
Short-term lease cost		—		—
Finance lease cost:
Amortization of right-of-use assets		239		262
Interest		31		55
Total lease costs	$	615	$	721

(i)

The variable lease cost and other, net is comprised primarily of common area maintenance charges for the operating lease, which are

The following table presents the supplemental cash flow disclosures for cash paid for leases for the three months ended March 31, 2026 and 2025 (in thousands):


	Three Months Ended
	March 31,
	2026		2025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	332	$	322
Operating cash flows from finance leases	$	45	$	77
Financing cash flows from finance leases	$	307	$	307