During the three and six months ended June 30, 2026, the Company recognized operating lease expense of $1.0 million and $2.1 million, respectively. During the three and six months ended June 30, 2025, the Company recognized operating lease expense of $0.9 million and $1.9 million, respectively. During the three and six months ended June 30, 2026, the Company paid $0.7 million and $1.4 million in cash for amounts included in the measurement of the operating lease liability, respectively. During the three and six months ended June 30, 2025, the Company paid $0.6 million and $0.9 million in cash for amounts included in the measurement of the operating lease liability, respectively.

As of June 30, 2026 and December 31, 2025, the Company’s operating lease had a remaining term of 2.0 years and 2.5 years, respectively. The Company discounts its lease payments using its incremental borrowing rate as of the commencement of the lease. The Company determined a weighted-average discount rate of 10.2% as of June 30, 2026 and December 31, 2025.

Future minimum rental commitments for the Company’s operating leases reconciled to the operating lease liability are as follows (in thousands):


	AS OF
	JUNE 30, 2026
2026 (6 months)	$	1,449
2027	2,941
2028	1,492
Total future minimum lease payments	5,882
Less: imputed interest	(541)
Total operating lease liability	5,341
Less: current portion of operating lease liability	(2,491)
Non-current portion of operating lease liability	$	2,850

The Company is not party to any material legal proceedings. From time to time, it may be involved in legal proceedings or subject to claims incident to the ordinary course of business. Regardless of the outcome, such proceedings or claims can have an adverse impact on the Company because of defense and settlement costs, diversion of resources and other factors, and there can be no assurances that favorable outcomes will be obtained.