v3.26.1
Leases (Tables)
6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Schedule of Lease Balance Sheet Information

The following table presents the lease balances within the Condensed Consolidated Balance Sheets as of June 30, 2026 and December 31, 2025 (in thousands):

 

 

 

 

June 30,

 

 

December 31,

 

Leases

 

Classification

 

2026

 

 

2025

 

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

Operating

 

Operating leases right-of-use assets

 

$

9,491

 

 

$

9,959

 

Finance

 

Property and equipment, net

 

 

67

 

 

 

81

 

Total lease assets

 

 

 

 

9,558

 

 

 

10,040

 

Liabilities

 

 

 

 

 

 

 

 

Current

 

 

 

 

 

 

 

 

Operating

 

Lease liabilities

 

 

1,633

 

 

 

1,134

 

Finance

 

Lease liabilities

 

 

31

 

 

 

28

 

Noncurrent

 

 

 

 

 

 

 

 

Operating

 

Long-term lease liabilities

 

 

8,867

 

 

 

9,813

 

Finance

 

Long-term lease liabilities

 

 

49

 

 

 

65

 

Total lease liabilities

 

 

 

$

10,580

 

 

$

11,040

 

Schedule of Maturities of Lease Liabilities

Maturities of the Company’s operating and finance lease liabilities as of June 30, 2026 were as follows (in thousands):

 

 

Operating

 

 

Finance

 

Year Ended December 31,

 

Leases

 

 

Leases

 

2026 (remainder)

 

$

1,498

 

 

$

20

 

2027

 

 

3,107

 

 

 

40

 

2028

 

 

3,178

 

 

 

35

 

2029

 

 

3,267

 

 

 

 

2030 and thereafter

 

 

3,375

 

 

 

 

Total lease payments

 

 

14,425

 

 

 

95

 

Less: imputed interest

 

 

(3,925

)

 

 

(15

)

Total lease liabilities

 

$

10,500

 

 

$

80

 

 

Summary of Weighted Average Remaining Lease Term and Discount Rate

The weighted average remaining lease term and weighted average discount rate used to determine lease liabilities related to the Company’s operating and finance leases as of June 30, 2026 and December 31, 2025 were:

 

 

June 30,

 

 

December 31,

 

Lease Term and Discount Rate

 

2026

 

 

2025

 

Weighted average remaining lease term (years)

 

 

 

 

 

 

Operating leases

 

 

4.57

 

 

 

5.08

 

Finance leases

 

 

2.35

 

 

 

2.85

 

Weighted average discount rate

 

 

 

 

 

 

Operating leases

 

 

14.4

%

 

 

14.4

%

Finance leases

 

 

14.4

%

 

 

14.4

%