v3.26.1
Leases
6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Leases

8. Leases

 

Operating leases

 

Leases classified as operating leases are included in operating lease right-of-use, or ROU, assets, operating lease liabilities and operating lease liabilities, non-current, in the Company’s condensed consolidated balance sheets. Cash paid for operating lease liabilities during the six months ended June 30, 2026 and 2025 was $715 and $681, respectively.

 

Lease expense consists of the following:

 

   For the Three Months Ended
June 30,
   For the Six Months Ended
June 30,
 
   2026   2025   2026   2025 
Operating lease expense  $338   $338   $676   $676 
Total  $338   $338   $676   $676 

 

Variable lease expense for the three months ended June 30, 2026 and 2025 was $34 and $31, respectively. Variable lease expenses for the six months ended June 30, 2026 and 2025 were $66 and $62, respectively. 

 

The weighted average discount rate and weighted-average remaining lease term for operating leases were:

 

   As of
June 30,
2026
 
Weighted-average discount rate   7.0%
Weighted-average remaining lease term – operating lease (in months)   25 

As of June 30, 2026, the expected annual minimum lease payments of the Company’s operating lease liabilities were as follows:

 

For the year ending December 31:  Operating
Lease
Payments
 
2026 (excluding the six months ended June 30, 2026)  $715 
2027   1,429 
2028   718 
2029   87 
Thereafter   
-
 
Total future operating lease payments   2,949 
Less: imputed interest   200 
Present value of future minimum lease payments  $2,749