Basis of Presentation and Summary of Significant Accounting Policies (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Accounting Policies [Abstract] |
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| Schedule of Investments in Debt Securities |
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Fair Value Measurements at June 30, 2026 |
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Carrying
Value/Amortized
Cost |
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Gross
Unrealized
Gains |
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Gross
Unrealized
Losses |
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Total |
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(in thousands) |
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Money Market Accounts (included in cash and cash equivalents) |
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$ |
2,030 |
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|
$ |
— |
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$ |
— |
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|
$ |
2,030 |
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U.S. Treasury Securities (included in cash and cash equivalents) |
|
$ |
55 |
|
|
$ |
— |
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$ |
— |
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$ |
55 |
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$ |
2,085 |
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$ |
— |
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$ |
— |
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|
$ |
2,085 |
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Fair Value Measurements at December 31, 2025 |
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|
Carrying
Value/Amortized
Cost |
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|
Gross
Unrealized
Gains |
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|
Gross
Unrealized
Losses |
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Total |
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Money Market Accounts (included in cash and cash equivalents) |
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$ |
1,058 |
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|
$ |
— |
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|
$ |
— |
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|
$ |
1,058 |
|
U.S. Treasury Securities (included in cash and cash equivalents) |
|
$ |
55 |
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|
$ |
— |
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$ |
— |
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$ |
55 |
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$ |
1,113 |
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|
$ |
— |
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|
$ |
— |
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|
$ |
1,113 |
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| Estimated Useful Service Lives |
The estimated useful service lives are as follows:
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|
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Equipment |
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5 - 7 Years |
Furniture and fixtures |
|
5 - 7 Years |
Leasehold improvements |
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Shorter of useful life or remaining lease term |
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| Schedule of Prepaid Expenses and Other Current Assets |
Prepaid expenses and other current assets as of June 30, 2026 and December 31, 2025 consist of the following:
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(in thousands) |
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June 30,
2026 |
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December 31,
2025 |
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Prepaid Expenses and Other Current Assets |
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Development and pre-opening |
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$ |
2,602 |
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$ |
2,590 |
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Insurance and property taxes |
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|
162 |
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|
1,379 |
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Marketing |
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|
649 |
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|
1,467 |
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Equipment |
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|
366 |
|
|
|
332 |
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Subscription services |
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|
128 |
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177 |
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Conference/Supplies |
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|
28 |
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|
7 |
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Other |
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1,966 |
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|
1,594 |
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Total Prepaid and Other Current Assets |
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$ |
5,901 |
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|
$ |
7,546 |
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| Other Assets and Other Current Liabilities |
Other assets as of June 30, 2026 and December 31, 2025 consist of the following:
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(in thousands) |
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June 30,
2026 |
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December 31,
2025 |
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Other Assets |
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Security Deposits |
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$ |
1,894 |
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$ |
1,997 |
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Liquor Licenses |
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|
386 |
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|
386 |
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Total Other Assets |
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$ |
2,280 |
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|
$ |
2,383 |
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Other Current Liabilities as of June 30, 2026 and December 31, 2025 consist of the following:
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(in thousands) |
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June 30,
2026 |
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December 31,
2025 |
|
Other Current Liabilities |
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Sales tax payable |
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$ |
1,049 |
|
|
$ |
1,554 |
|
Accrued percentage rent |
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|
1,008 |
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|
|
1,195 |
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Misc. accrued expenses |
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|
5,190 |
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|
|
4,974 |
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Total Other Current Liabilities |
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$ |
7,247 |
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|
$ |
7,723 |
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| Reconciliation of Total Interest Expense to Interest (Expense) Income, Net |
A reconciliation of total interest expense to interest (expense) income, net as reported in the condensed consolidated statements of comprehensive loss for the three and six months ended June 30, 2026 and 2025 is as follows:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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(in thousands) |
|
2026 |
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|
2025 |
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|
2026 |
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|
2025 |
|
Interest expense |
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$ |
(408 |
) |
|
$ |
(145 |
) |
|
$ |
(725 |
) |
|
$ |
(240 |
) |
Interest income |
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|
94 |
|
|
|
212 |
|
|
|
185 |
|
|
|
367 |
|
Interest (expense) income, net |
|
$ |
(314 |
) |
|
$ |
67 |
|
|
$ |
(540 |
) |
|
$ |
127 |
|
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