v3.26.1
Commitments and Contingencies (Tables)
6 Months Ended
Jun. 30, 2026
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Leases in Financial Statement

The following table shows right-of-use assets and lease liabilities and the associated financial statement line items as of June 30, 2026 and December 31, 2025 (in thousands):

 

 

 

 

June 30,

 

 

December 31,

 

Lease-Related Assets and Liabilities

 

Financial Statement Line Items

 

2026

 

 

2025

 

Right-of-use assets:

 

 

 

 

 

 

 

 

Operating leases

 

Other assets

 

$

2,306

 

 

$

2,402

 

Finance leases

 

Property and equipment, net

 

 

229

 

 

 

385

 

Total right-of-use assets

 

 

 

$

2,535

 

 

$

2,787

 

 

 

 

 

 

 

 

 

Lease liabilities:

 

 

 

 

 

 

 

 

Operating leases

 

Operating lease obligation, net of current portion

 

 

3,001

 

 

 

2,337

 

Finance leases

 

Finance lease obligation, current portion

 

 

 

 

 

2

 

Total lease liabilities

 

 

 

$

3,001

 

 

$

2,339

 

Schedule of Lease Cost and Other Information

Lease costs and other information consisted of the following (in thousands, except terms and rates):

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Lease cost

 

 

 

 

 

 

 

 

 

 

 

 

Finance lease cost:

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of right-of-use assets

 

$

77

 

 

$

78

 

 

$

155

 

 

$

157

 

Interest on lease liabilities

 

 

 

 

 

1

 

 

 

 

 

 

3

 

Operating lease cost

 

 

117

 

 

 

159

 

 

 

235

 

 

 

318

 

Total lease cost

 

$

194

 

 

$

238

 

 

$

390

 

 

$

478

 

 

 

 

 

 

 

 

 

 

 

 

 

Other information

 

 

 

 

 

 

 

 

 

 

 

 

Finance leases:

 

 

 

 

 

 

 

 

 

 

 

 

Operating cash outflows

 

$

 

 

$

1

 

 

$

 

 

$

3

 

Financing cash outflows

 

$

 

 

$

58

 

 

$

2

 

 

$

173

 

Weighted-average remaining lease term (in years)

 

 

 

 

 

0.2

 

 

 

 

 

 

0.2

 

Weighted-average discount rate

 

 

0.0

%

 

 

8.0

%

 

 

0.0

%

 

 

8.0

%

Operating leases:

 

 

 

 

 

 

 

 

 

 

 

 

Operating cash outflows

 

$

 

 

$

166

 

 

$

 

 

$

333

 

Right-of-use assets obtained in exchange for lease liabilities

 

$

12

 

 

$

 

 

$

29

 

 

$

 

Weighted-average remaining lease term (in years)

 

 

8.0

 

 

 

0.5

 

 

 

8.0

 

 

 

0.5

 

Weighted-average discount rate

 

 

8.8

%

 

 

7.5

%

 

 

8.8

%

 

 

7.5

%

 

Schedule of Future Minimum Lease Payments

Future minimum lease payments for the Company’s leases as of June 30, 2026, were as follows (in thousands):

 

 

 

Operating Leases

 

2026

 

$

280

 

2027

 

 

576

 

2028

 

 

594

 

2029

 

 

611

 

2030

 

 

630

 

Thereafter

 

 

2,359

 

Total minimum lease payments

 

 

5,050

 

Less: imputed interest

 

 

(1,453

)

Less: remaining lease incentives

 

 

(596

)

Present value of future lease payments

 

 

3,001

 

Less: current portion

 

 

 

Long-term portion

 

$

3,001