v3.26.1
Commitments and Contingencies (Tables)
6 Months Ended
Jun. 30, 2026
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Lease Cost
The Company’s lease costs consisted of the following (in thousands):
Three Months EndedSix Months Ended
June 30,June 30,
2026202520262025
Operating lease cost$144$396$323$818
Variable lease cost87463276628
Total lease cost$231$859$599$1,446
The following table summarizes cash flow information related to the Company’s lease obligations (in thousands):
Three Months EndedSix Months Ended
June 30,June 30,
2026202520262025
Cash paid for operating lease liabilities$186 $398 $361 $815 
The following table summarizes the Company’s lease assets and liabilities (in thousands):
June 30, 2026
December 31, 2025
Operating lease right-of-use assets$2,149 $238 
Current operating lease liabilities$393 $372 
Non-current operating lease liabilities$1,835 $— 
The following table summarizes other supplemental information related to the Company’s lease obligations:
June 30, 2026
December 31, 2025
Weighted-average remaining lease term (in years)4.680.70
Weighted-average discount rate6.36 %6.75 %
Schedule of Future Minimum Lease Payments
Future minimum lease payments under operating lease liabilities were (in thousands):
June 30, 2026
2026 (remaining six months)$329 
2027514 
2028527 
2029540 
2030553 
2031 and thereafter186 
Total future lease payments2,649 
Less: imputed interest421 
Total lease liability balance2,228 
Less: current portion of operating lease liabilities 393 
Total operating lease liabilities, non-current$1,835 
Schedule of Lease Income Related to the Operating Lease
The Lease is classified as an operating lease and revenue is recognized on a straight-line basis and is recorded within the condensed consolidated statements of operations and comprehensive loss in the line item “Other rental income” as this is not a part of the Company’s core operations. Rental income related to the Lease was as follows (in thousands):
Three Months EndedSix Months Ended
June 30,June 30,
2026202520262025
Rental income related to fixed lease income$2,242 $2,242 $4,484 $4,484 
Schedule of Future Fixed Contractual Lease Payments to be Received
Approximate future straight-lined contractual lease income to be recognized under the Lease in effect as of June 30, 2026, is as follows (in thousands):
June 30, 2026
2026 (remaining six months)$4,484 
20278,968 
20288,968 
20298,968 
20308,968 
2031 and thereafter76,974 
Total$117,330