In February 2026, the Company entered into a lease for 50,485 square feet of office space in San Jose, California, with a lease term of 102 months with one five-year option to extend the term of the lease. The monthly base rent is $128,737 and is subject to annual increases. The Company is not required to pay monthly base rent for the first six months. Under the terms of the lease, the Company expects to receive up to $3.8 million from the landlord as reimbursement for qualifying costs incurred in connection with the Company’s construction of tenant improvements. In the first quarter of 2026, the Company recorded a right-of-use asset of $6.6 million and a lease liability of $6.5 million related to the lease. As of June 30, 2026, lease payments have not yet commenced for the lease.

The Company also has a non-cancelable operating lease for an office building space, located in Santa Clara, California, with an original lease period expiring in May 2025 ("El Camino Lease"). On July 18, 2024, the Company extended the term of the El Camino Lease for an additional period of fourteen months commencing on June 1, 2025 and expiring July 31, 2026. On June 5, 2026, the Company extended the term of the El Camino Lease for an additional period of one month commencing on August 1, 2026 and expiring August 31, 2026 with an option to extend an additional one month to September 30, 2026.

The Company also has non-cancelable leases for a building used for research and development and warehouse space in Santa Clara, California with original lease period expiring in October 2026 ("Owen Lease"). On July 9, 2026, the Company extended the Owen Lease term for a period of two months commencing on November 1, 2026, and expiring December 31, 2026.


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Operating lease expense	$	600	$	312	$	1,014	$	623
Variable lease expense	148		136		339		346
Total lease expense	$	748	$	448	$	1,353	$	969

Cash paid for amounts included in the measurement of operating lease liabilities	$	330	$	326	$	791	$	711
Leased assets obtained in exchange for new operating lease liabilities	$	54	$	39	$	6,633	$	39

	June 30, 2026		December 31, 2025
Weighted average remaining lease term (in years)	8.15		1.20
Weighted average discount rate	6.28%		6.95%


Year Ending December 31,	(in thousands)
Remainder of 2026	$	372
2027	1,178
2028	1,692
2029	1,660
2030	1,701
Thereafter	7,816
Total operating lease payments	14,419
Less: imputed interest and tenant improvement allowance	(7,252)
Total operating lease liabilities	$	7,167

The Company has certain purchase commitments related to its inventory management with certain manufacturing suppliers based on the agreements or blanket purchase orders. The contractual obligations represent future cash commitments and liabilities under agreements with third parties and exclude orders for goods and services entered into in the normal course of business that are not enforceable or legally binding. These outstanding commitments amounted to $4.2 million and $4.3 million as of June 30, 2026 and December 31, 2025, respectively.

The Company enters into standard indemnification arrangements in the ordinary course of business. Pursuant to these arrangements, the Company indemnifies, holds harmless, and agrees to reimburse the indemnified parties for losses suffered or incurred by the indemnified party, in connection with any trade secret, copyright, patent or other intellectual property infringement claim by any third-party with respect to the Company’s technology. The term of these indemnification agreements is generally perpetual. The maximum potential amount of future payments the Company could be required to make under these agreements is not determinable because it involves claims that may be made against the Company in the future, but have not yet been made.

The Company has entered into indemnification agreements with its directors and officers that may require the Company to indemnify its directors and officers against liabilities that may arise by reason of their status or service as directors or officers, other than liabilities arising from willful misconduct of the individual.

The Company has not incurred costs to defend lawsuits or settle claims related to these indemnification agreements. No liability associated with such indemnifications has been recorded to date.

In October 2024, the Company received a civil investigative demand (“CID”) from the U.S. Department of Justice, Civil Division, in connection with an investigation under the federal Anti-Kickback Statute and Civil False Claims Act (the “Investigation”). The CID requests information and documents primarily relating to meals and consulting service payments provided to health care professionals. The Company is cooperating with the Investigation but is currently unable to express a view regarding the likely duration, or ultimate outcome, of the Investigation. As of June 30, 2026, the Company has not recorded an accrual related to the Investigation. Depending on how the Investigation progresses, there may be a material impact on the Company’s business, results of operations, or financial condition.