v3.26.1
Leases
 3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Leases Leases
We lease our operating facilities in Novato, California, under a non-cancelable operating lease through May 31, 2027. There are no options or rights to extend the term of this lease.
The following table reflects our operating lease right-of-use (“ROU”) assets, net and operating lease liabilities as of March 31, 2026 and December 31, 2025 (in thousands):
March 31, 2026December 31, 2025
Assets:
Operating lease ROU assets, net$477 $573 
Liabilities:
Operating lease liabilities, current$467 $454 
Operating lease liabilities, noncurrent82 203 
$549 $657 
The following table presents supplemental cash flow information related to our operating leases for the three months ended March 31, 2026 and 2025 (in thousands):
Three Months Ended March 31,
20262025
Operating cash flows from operating leases
$121 $117 
As of March 31, 2026, the maturity of operating lease liabilities was as follows (in thousands):
Year ending December 31:
2026 (remainder)
$370 
2027207 
Total payments577 
Less: Interest(28)
Present value of obligations$549 
As of March 31, 2026, the weighted-average remaining lease term was 1.2 years and the weighted-average discount rate was 8%. As of December 31, 2025, the weighted-average remaining lease term was 1.4 years and the weighted-average discount rate was 8%.
Operating lease expenses for each of the three months ended March 31, 2026 and 2025 was $0.1 million, of which $6 thousand was related to leases with a term of less than 12 months.