v3.26.1
Commitments and Contingencies (Tables)
6 Months Ended
Jun. 30, 2026
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Future Minimum Lease Payments Included in Measurement of Lease Liabilities and Financing Obligations

As of June 30, 2026, future minimum lease payments included in the measurement of lease liabilities were as follows (in thousands):

 

 

 

Operating leases

 

 

Finance leases

 

2026

 

 

929

 

 

 

325

 

2027

 

 

1,891

 

 

 

430

 

2028

 

 

1,936

 

 

 

250

 

2029 and thereafter

 

 

4,774

 

 

 

61

 

Total undiscounted lease payments

 

 

9,530

 

 

 

1,066

 

Less: imputed interest

 

 

(1,853

)

 

 

(114

)

Total lease liability

 

 

7,677

 

 

 

952

 

Less: current portion

 

 

1,237

 

 

 

518

 

Operating and finance lease liability, net of current portion

 

$

6,440

 

 

$

434

 

Schedule of Operating Leases and Finance Leases

The following table contains a summary of the lease costs recognized under ASC 842 and other information pertaining to the Company’s operating leases and finance leases (in thousands):

 

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

Operating leases:

 

 

 

 

 

 

Short-term lease cost

 

$

547

 

 

$

533

 

Variable lease cost

 

 

208

 

 

 

115

 

Operating lease cost

 

 

793

 

 

 

416

 

Total operating lease costs

 

 

1,548

 

 

 

1,064

 

Finance leases:

 

 

 

 

 

 

Amortization of right-of-use assets

 

$

229

 

 

$

191

 

Interest on lease liabilities

 

 

37

 

 

 

42

 

Financing obligation:

 

 

 

 

 

 

Interest expense

 

 

 

 

 

7

 

Total finance lease and financing obligation cost

 

 

266

 

 

 

240

 

Total lease cost

 

$

1,814

 

 

$

1,304

 

Schedule of Weighted Average Discount Rate and Remaining Terms The weighted average discount rate and remaining terms are as follows:

 

 

As of June 30,

 

 

 

2026

 

 

2025

 

Weighted-average remaining lease term (in years)

 

 

 

 

 

 

Operating leases

 

 

4.9

 

 

 

 

Finance leases

 

 

2.1

 

 

 

2.0

 

Financing obligation

 

 

 

 

 

0.2

 

Weighted-average discount rate (percent)

 

 

 

 

 

 

Operating leases

 

 

8.86

%

 

 

8.00

%

Finance leases

 

 

9.11

%

 

 

10.50

%

Financing obligation

 

 

 

 

 

12.70

%