v3.26.1
Leases (Tables)
 3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Schedule of Operating Lease on Its Consolidated Balance Sheet

The following table summarizes the presentation of the Company's operating lease on its condensed consolidated balance sheet as of March 31, 2026 (in thousands):

 

Leases

 

Balance sheet classification

 

March 31,
2026

 

Assets:

 

 

 

 

 

Operating lease assets

 

Operating lease right-of-use assets

 

$

1,433

 

Total lease assets

 

 

 

$

1,433

 

Liabilities:

 

 

 

 

 

Current:

 

 

 

 

 

Operating lease liabilities

 

Operating lease liability, current

 

$

317

 

Noncurrent:

 

 

 

 

 

Operating lease liabilities

 

Operating lease liability, long-term

 

 

1,093

 

Total lease liabilities

 

 

 

$

1,410

 
Schedule of Components of Lease Cost

The components of lease cost under ASC 842 included within general and administrative expenses in the Company’s condensed consolidated statements of operations and comprehensive loss were as follows for the three months ended March 31, 2026 (in thousands):

 

Lease cost

 

Three Months Ended March 31, 2026

 

Operating lease cost

 

$

88

 

Variable lease cost

 

 

8

 

Total lease cost

 

$

96

 
Schedule of Future Minimum Annual Lease Commitments under Non-cancellable Operating Leases

Future minimum annual lease commitments under the Company's non-cancelable operating lease as of March 31, 2026 was as follows (in thousands):

 

Year ended December 31,

 

Amount

 

2026 (remaining 9 months)

 

$

251

 

2027

 

 

342

 

2028

 

 

349

 

2029

 

 

356

 

2030

 

 

363

 

Thereafter

 

 

338

 

Total lease payments

 

 

1,999

 

Less: interest

 

 

(589

)

Present value of operating lease liabilities

 

$

1,410