v3.26.1
Commitments and Contingencies
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Leases
Operating leases consist of fabrication, lab, and office space expiring at various dates through 2029. Finance leases relate to a server lease expiring in February 2029. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.
The undiscounted future non-cancellable lease payments under the Company’s operating and finance leases were as follows (in thousands):
As of June 30, 2026Amount
Remainder of 2026$749 
20271,513 
2028658 
202948 
Total lease payments2,968 
Less: imputed interest(135)
Total lease liabilities2,833 
Less: current portion of lease liabilities(1,405)
Total lease liabilities, net of current portion$1,428 
Other information related to the Company’s operating lease liabilities was as follows:
June 30,
2026		December 31,
2025
Weighted-average remaining lease term (years)2.022.44
Weighted-average discount rate4.77 %4.50 %
Other information related to the Company’s finance lease liabilities was as follows:
June 30,
2026		December 31,
2025
Weighted-average remaining lease term (years)2.673.16
Weighted-average discount rate3.90 %3.90 %
Legal Proceedings
From time to time, the Company may become involved in legal proceedings arising from the ordinary course of its business. Other than the patent infringement lawsuit disclosed below, management is currently not aware of any matters that would have a material adverse effect on the financial position, results of operations or cash flows of the Company.
Patent Infringement Lawsuit
On January 28, 2026, Avalanche Technology, Inc. filed a patent infringement lawsuit against the Company in the United States District Court for the District of Delaware, alleging infringement of certain patents. Avalanche Technology, Inc. also filed a complaint with the U.S. International Trade Commission seeking the institution of an investigation under Section 337 of the Tariff Act of 1930, as amended. The Company has retained a dedicated legal team and is vigorously defending itself against such claims. As of June 30, 2026, the Company has not recorded an accrual related to these matters because it currently estimates that while possible, a loss is not probable. Further, any possible range of loss cannot reasonably be estimated at this time.