Leases	3 Months Ended
Mar. 31, 2026
Leases
Leases	12. Leases The Company had an operating lease obligation accounted for under ASC 842 as of March 31, 2026 related to previously occupied corporate office space. The Company determines whether a contract contains a lease at inception. Operating leases generally have remaining terms of one to five years and may include options to extend the lease term. Please see Note 15 – Commitments and Contingencies for further details. During January 2026, the Company vacated its leased corporate office space and received notice from the landlord alleging default under the lease agreement, accelerating remaining lease obligations, and repossessing the premises. The lease had an original remaining contractual term through March 2029. As a result of vacating the premises, the Company determined that the related right-of-use asset was no longer recoverable and recorded a full impairment charge of approximately $110.1 thousand during the three months ended March 31, 2026. In addition, the Company recorded a write-off of fixed assets associated with the premises totaling approximately $16.8 thousand. The Company continues to recognize an operating lease liability of approximately $94.0 thousand as of March 31, 2026, representing the present value of the remaining contractual lease payments. The lease liability reflects the Company’s continuing obligation under the lease agreement, as the Company has not been legally released from its contractual obligations. Due to the landlord’s acceleration of lease payments, all remaining lease obligations are classified as due within 2026. In addition, the Company recorded an accrued lease obligation of approximately $16.9 thousand for unpaid rent and related charges for the period from January through March 2026 under ASC 450, Contingencies. The landlord may seek additional damages, including future rent and re-leasing costs; however, such amounts are not reasonably estimable as of March 31, 2026 and therefore have not been recorded. Management will continue to evaluate this matter as additional information becomes available. The original contractual lease term extends through March 2029. The weighted-average remaining lease term and weighted-average discount rate are not presented due to immateriality.

Leases

3 Months Ended

Mar. 31, 2026

12. Leases

The Company had an operating lease obligation accounted for under ASC 842 as of March 31, 2026 related to previously occupied corporate office space. The Company determines whether a contract contains a lease at inception. Operating leases generally have remaining terms of one to five years and may include options to extend the lease term. Please see Note 15 – Commitments and Contingencies for further details.

During January 2026, the Company vacated its leased corporate office space and received notice from the landlord alleging default under the lease agreement, accelerating remaining lease obligations, and repossessing the premises. The lease had an original remaining contractual term through March 2029. As a result of vacating the premises, the Company determined that the related right-of-use asset was no longer recoverable and recorded a full impairment charge of approximately $110.1 thousand during the three months ended March 31, 2026. In addition, the Company recorded a write-off of fixed assets associated with the premises totaling approximately $16.8 thousand.

The Company continues to recognize an operating lease liability of approximately $94.0 thousand as of March 31, 2026, representing the present value of the remaining contractual lease payments. The lease liability reflects the Company’s continuing obligation under the lease agreement, as the Company has not been legally released from its contractual obligations. Due to the landlord’s acceleration of lease payments, all remaining lease obligations are classified as due within 2026. In addition, the Company recorded an accrued lease obligation of approximately $16.9 thousand for unpaid rent and related charges for the period from January through March 2026 under ASC 450, Contingencies. The landlord may seek additional damages, including future rent and re-leasing costs; however, such amounts are not reasonably estimable as of March 31, 2026 and therefore have not been recorded. Management will continue to evaluate this matter as additional information becomes available. The original contractual lease term extends through March 2029. The weighted-average remaining lease term and weighted-average discount rate are not presented due to immateriality.