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The Company leases approximately 33,000 square feet of research and office space for its corporate

headquarters under a non-cancelable operating lease. The Company has one option to extend the term for an additional period of five years beginning on June 1, 2033.

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In addition, effective January 1, 2026, in connection with the acquisition of certain U.S. commercial assets under the Master Asset Purchase Agreement with Ascensia, the Company assumed operating leases for a fleet of vehicles used by its U.S. sales force. These leases are classified as operating leases and have remaining lease terms with expirations ranging from May 31, 2028 to June 30, 2030.

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The rent expense is recognized on a straight-line basis through the end of the lease term, excluding option renewals. The difference between the straight-line rent amounts and amounts payable under the lease is recorded as deferred lease cost.

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Operating lease expense was $0.8 million and $0.4 million for the six months ended June 30, 2026 and 2025, respectively.

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The following table summarizes the lease assets and liabilities as of June 30, 2026 and December 31, 2025 (in thousands):

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The following table summarizes the maturity of undiscounted payments due under operating lease liabilities and the present value of those liabilities as of June 30, 2026 (in thousands):

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The following table summarizes the weighted-average lease term and weighted-average discount rate as of June 30, 2026:

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