v3.26.1
Leases (Tables)
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Schedule of Operating Lease on Its Consolidated Balance Sheet

The following table summarizes the presentation of the Company’s operating lease on its condensed consolidated balance sheet as of June 30, 2026 (in thousands):

 

Leases

 

Balance sheet classification

 

June 30,
2026

 

Assets:

 

 

 

 

 

Operating lease assets

 

Operating lease right-of-use assets

 

$

1,389

 

Total lease assets

 

 

 

$

1,389

 

Liabilities:

 

 

 

 

 

Current:

 

 

 

 

 

Operating lease liabilities

 

Operating lease liability, current

 

$

347

 

Noncurrent:

 

 

 

 

 

Operating lease liabilities

 

Operating lease liability, long-term

 

 

1,053

 

Total lease liabilities

 

 

 

$

1,400

 

 
Schedule of Components of Lease Cost

The components of lease cost under ASC 842 included within general and administrative expenses in the Company’s condensed consolidated statements of operations and comprehensive loss were as follows for the three and six months ended June 30, 2026 (in thousands):

 

Lease cost

 

Three Months Ended June 30, 2026

 

 

Six Months Ended June 30, 2026

 

Operating lease cost

 

$

88

 

 

$

176

 

Variable lease cost

 

 

7

 

 

 

15

 

Total lease cost

 

$

95

 

 

$

191

 

 
Schedule of Future Minimum Annual Lease Commitments under Non-cancellable Operating Leases

Future minimum annual lease commitments under the Company's non-cancelable operating lease as of June 30, 2026 was as follows (in thousands):

 

Year ended December 31,

 

Amount

 

2026 (remaining 6 months)

 

$

196

 

2027

 

 

342

 

2028

 

 

349

 

2029

 

 

356

 

2030

 

 

363

 

Thereafter

 

 

337

 

Total lease payments

 

 

1,943

 

Less: interest

 

 

(543

)

Present value of operating lease liabilities

 

$

1,400