In January 2022, the Company entered into an 8-year office lease agreement for a 20,116 square feet facility in Brisbane, California (“Brisbane Lease”). The lease commenced in December 2022.

As of June 30, 2026 and December 31, 2025, the balance of the operating lease right of use assets were $6,949 and $7,540, respectively, and the related operating lease liabilities were $7,560 and $8,141, respectively, as shown in the accompanying consolidated balance sheets.

Rent expense was $482 and $968 for the three and six months ended June 30, 2026, respectively. Rent expense was $486 and $973 for the three and six months ended June 30, 2025, respectively.

As of June 30, 2026, future minimum lease payments under the Company's operating lease liabilities were as follows:



Year Ending	Total Commitment
2026 (excluding six months ended June 30, 2026)	$	963
2027		1,994
2028		2,064
2029		2,136
2030		2,210
Total minimum lease payments		9,367
Less: imputed interest		(1,807	)
Present value of operating lease obligations		7,560
Less: current portion		(1,287	)
Noncurrent operating lease obligations	$	6,273

Related to this Brisbane Lease agreement, the Company entered into a letter of credit with a bank to deposit $388 in a separate account that is classified as restricted cash to serve as security rent deposit. This amount is included in other noncurrent assets in the accompanying consolidated balance sheets as of June 30, 2026.