v3.26.1
Commitments and Contingencies (Tables)
 3 Months Ended
Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Lease Cost
The Company’s lease costs consisted of the following (in thousands):
Three Months Ended March 31,
20262025
Operating lease cost$179$422 
Variable lease cost188165 
Total lease cost$367$587 
The following table summarizes cash flow information related to the Company’s lease obligations (in thousands):
Three Months Ended March 31,
20262025
Cash paid for operating lease liabilities$175 $417 
The following table summarizes the Company’s lease assets and liabilities (in thousands):
March 31, 2026
December 31, 2025
Operating lease right-of-use assets$60 $238 
Current operating lease liabilities$186 $372 
The following table summarizes other supplemental information related to the Company’s lease obligations:
March 31, 2026
December 31, 2025
Weighted-average remaining lease term (in years)0.60.7
Weighted-average discount rate6.75 %6.75 %
Schedule of Lease Income Related to the Operating Lease
The Lease is classified as an operating lease and revenue is recognized on a straight-line basis and is recorded within the condensed consolidated statements of operations and comprehensive loss in the line item “Other rental income” as this is not a part of the Company’s core operations. Rental income related to the Lease was as follows (in thousands):
Three Months Ended March 31,
20262025
Rental income related to fixed lease income$2,242 $2,242 
Schedule of Future Fixed Contractual Lease Payments to be Received
Approximate future straight-lined contractual lease income to be recognized under the Lease in effect as of March 31, 2026, is as follows (in thousands):
March 31, 2026
2026 (remaining nine months)$6,726
20278,968
20288,968
20298,968
20308,968
Thereafter76,973
Total$119,571
Schedule of Net Carrying Amount of the Liability Component of the Loan
The net carrying amount of the liability component of the 2024 Loan was as follows (in thousands):
 
March 31, 2026
December 31, 2025
Principal amount$85,600 $85,600 
Unamortized debt issuance cost(601)(794)
Net carrying amount$84,999 $84,806 
Schedule of Interest Expense Related to the Loan
The following table sets forth the interest expense recognized related to the 2024 Loan (in thousands):
Three Months Ended March 31,
20262025
Contractual interest expense$1,359 $886 
Amortization of debt issuance cost193 212 
Total interest expense related to the 2024 Loan$1,552 $1,098