Leases (Tables)

6 Months Ended

Jun. 30, 2026

Leases [Abstract]

Schedule of components of lease costs

The following table presents the components of lease costs:


			Three months ended June 30,												Six months ended June 30,
			2026						2025						2026						2025
Components of lease costs:
Operating lease cost			361						287						646						566
Variable lease cost (not included in the measurement of lease liabilities)			273						194						548						445
Total lease costs			$	634					$	480					$	1,194					$	1,010
Total additions to operating right-of-use assets			$	19,119					$	—					$	19,119					$	—

Schedule of Future Minimum Operating Lease Payments

Xanadu’s future minimum operating lease payments as of June 30, 2026 are as follows:


Remainder of 2026						$	622
2027						2,160
2028						3,166
2029						3,212
2030 and Thereafter						31,743
Total future minimum lease payments						40,903
Less: imputed interest						(14,296)
Total operating lease liabilities						26,607
Less: current portion of operating lease liabilities						(1,051)
Long-term portion of operating lease liabilities						$	25,556