v3.26.1
Commitments and Contingencies (Tables)
6 Months Ended
Jun. 30, 2026
Lessee, Lease, Description [Line Items]  
Summary of Future Minimum Rent Payments

The future minimum rent payments relating to the Carmel Lease and Burlington Lease under the terms and conditions existing as of June 30, 2026, are summarized as follows (in thousands):

 

(in thousands)

 

Amount

 

2026

 

$

387

 

2027

 

 

1,061

 

2028

 

 

1,092

 

2029

 

 

877

 

2030

 

 

596

 

Total lease payments

 

 

4,013

 

Less: imputed interest

 

 

(672

)

Present value of lease liabilities

 

$

3,341

 

Summary of Operating Lease Term and Discount Rate

The following table summarizes the operating lease terms and discount rates for the Carmel Lease and the Burlington Lease as of June 30, 2026 and December 31, 2025:

 

 

June 30,

 

 

December 31,

 

 

 

2026

 

 

2025

 

Weighted-average remaining lease term (years)

 

 

3.9

 

 

 

3.0

 

Weighted-average discount rate

 

 

9.1

%

 

 

11.0

%

Summary of Right of Use Assets and Lease Liabilities

The following table sets forth the amount of right-of-use assets and lease liabilities included on the Company’s balance sheet as of June 30, 2026 and December 31, 2025 (in thousands):

 

 

June 30,

 

 

December 31,

 

 

 

2026

 

 

2025

 

Right-of use assets

 

$

2,759

 

 

$

487

 

Operating lease liabilities, current

 

 

631

 

 

 

172

 

Operating lease liabilities, net of current

 

 

2,710

 

 

 

424