Leases |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||
| LEASES | 7. LEASES
The Company’s non-cancellable operating leases consist of leases for office space. The Company is the lessee under the terms of the operating leases. For the three months ended March 31, 2026, the operating lease cost was $0.05 million.
The Company’s operating leases have remaining lease terms of approximately 13 months. As of March 31, 2026, the weighted average remaining lease term and weighted average discount rate were 1.12 years and 4.51%, respectively.
Maturities of lease liabilities were as follows:
The Company leases office space and equipment under various short-term operating leases. As permitted by ASC 842, the Company has elected the practical expedient for short-term leases, whereby lease assets and lease liabilities are not recognized on the balance sheet. Short-term leases cost was $6,036 for the three months ended March 31, 2026. |
|||||||||||||||||||||||||||||||||||||||||||||