v3.26.1
Leases (Tables)
6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Schedule of Lease Cost

The following table summarizes the lease costs recognized under ASC 842 and other information pertaining to the Company’s operating leases for the three and six months ended June 30, 2026 and 2025 (in thousands):

 

 

Three Months Ended June 30,

 

 

For the Six Months Ended June 30,

 

 

2026

 

2025

 

 

2026

 

 

2025

 

Operating lease cost

$

684

 

$

666

 

 

$

1,439

 

 

$

1,335

 

Variable lease cost

 

242

 

 

402

 

 

 

532

 

 

 

741

 

Total lease cost

$

926

 

$

1,068

 

 

$

1,971

 

 

$

2,076

 

Schedule of Supplemental Information Related to Remaining Lease Term and Discount Rate

Supplemental information related to the remaining lease term and discount rate are as follows:

 

 

 

June 30, 2026

 

December 31, 2025

 

Weighted average remaining lease term (in years) – Finance leases

 

 

0.40

 

 

0.89

 

Weighted average remaining lease term (in years) – Operating leases

 

 

5.19

 

 

8.75

 

 

 

 

 

 

 

Weighted average discount rate – Finance leases

 

 

10.65

%

 

10.57

%

Weighted average discount rate – Operating leases

 

 

10.63

%

 

8.61

%

Schedule of Future Minimum Commitments Under Company's Operating and Finance Leases

As of June 30, 2026, future minimum commitments under ASC 842 under the Company’s operating and finance leases were as follows (in thousands):

Year Ending December 31,

Operating

 

Finance

 

2026

 

857

 

 

172

 

2027

 

1,759

 

 

 

2028

 

1,834

 

 

 

2029

 

1,913

 

 

 

2030

 

1,923

 

 

 

Thereafter

 

1,352

 

 

 

Total lease payments

 

9,638

 

 

172

 

Less: imputed interest

 

(2,351

)

 

(5

)

Total lease liabilities

$

7,287

 

$

167

 

Lease liabilities, current

 

996

 

 

167

 

Lease liabilities, non-current

 

6,291

 

 

 

Total lease liabilities

$

7,287

 

$

167