| Commitments and Contingencies |
7. Commitments and Contingencies Leases The following table represents the Company’s lease cost and supplemental lease information: | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | Operating lease cost | | $ | 536 | | $ | 536 | | $ | 1,072 | | $ | 1,046 | Short-term lease cost | | | 4 | | | 3 | | | 8 | | | 6 | Variable lease cost | | | 393 | | | 308 | | | 703 | | | 593 | Total lease cost | | $ | 933 | | $ | 847 | | $ | 1,783 | | $ | 1,645 |
| | | | | | | | | | | | As of June 30, | | As of December 31, | | | 2026 | | 2025 | Operating leases | | | | | | | Assets | | | | | | | Right-of-use asset - operating leases | | $ | 10,472 | | $ | 10,920 | Liabilities | | | | | | | Operating lease liability, current | | $ | 1,528 | | $ | 1,456 | Operating lease liabilities, net of current portion | | | 15,723 | | | 16,487 | Total operating lease liabilities | | $ | 17,251 | | $ | 17,943 | Other information | | | | | | | Weighted-average remaining lease term (in years) | | | 8.9 | | | 9.3 | Weighted-average incremental borrowing rate | | | 7.1% | | | 7.1% |
The following table reconciles the remaining minimum lease payments to the lease liability as of June 30, 2026: | | | | | | Operating Leases | Remainder of 2026 | | $ | 1,324 | 2027 | | | 2,709 | 2028 | | | 2,338 | 2029 | | | 2,396 | 2030 | | | 2,456 | 2031 | | | 2,518 | 2032 and thereafter | | | 9,786 | Total undiscounted lease payments | | | 23,527 | Discount factor | | | (6,276) | Present value of lease liabilities | | $ | 17,251 |
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