v3.26.1
Leases (Tables)
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Summary of Lease Cost and Lease Details
The components of lease expense were as follows for the three and six months ended June 30, 2026 and 2025 (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Operating lease cost$1,285 $1,881 $2,570 $3,813 
Variable lease cost— 699 — 1,507 
$1,285 $2,580 $2,570 $5,320 
Supplemental disclosure of cash flow information related to leases was as follows (in thousands):
Six Months Ended June 30,
20262025
Supplemental cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities$— $5,480 
Non-cash investing and financing activities:
Financing lease liabilities arising from obtaining right-of-use assets— 1,200 
Decrease in operating lease liabilities and right-of-use assets due to lease remeasurement— 8,800 
The weighted average remaining lease term and discount rate was as follows:
June 30, 2026December 31, 2025
Weighted-average remaining lease term—operating leases (in years)9.29.7
Weighted-average discount rate—operating leases7.24 %7.24 %
Summary of Minimum Lease Payments
Future annual minimum lease payments under the Office Lease as of June 30, 2026 were as follows (in thousands):
Remainder of 2026 (six months)$979 
20274,280 
20285,713 
20296,774 
20306,977 
Thereafter36,088 
Total future minimum lease payments60,811 
Less: imputed interest(17,709)
Total operating lease liabilities$43,102 
Summary of Balance Sheet Location
Included in the consolidated balance sheets (in thousands):June 30, 2026December 31, 2025
Current operating lease liabilities$2,819 $923 
Operating lease liabilities, net of current portion40,283 40,347 
Total operating lease liabilities$43,102 $41,270