v3.26.1
Commitments and Contingencies (Tables)
6 Months Ended
Jun. 30, 2026
Commitments and Contingencies Disclosure [Abstract]  
Reconciliation of Undiscounted Operating Lease Cash Flows to Operating Lease Liability Payments

The following table reconciles the Company’s undiscounted operating lease cash flows to its operating lease liability (in thousands):

 

 

 

June 30,
2026

 

2026

 

$

256

 

2027

 

 

346

 

Total undiscounted lease payments

 

 

602

 

Present value adjustment for minimum lease
   commitments

 

 

(25

)

Net lease liability

 

$

577

 

Weighted Average Remaining Lease Term and Weighted Average Discount Rate and Operating Lease Expense and Variable Lease Expense

The weighted average remaining lease term and the weighted average discount rate used to determine the operating lease liability were as follows:

 

 

 

June 30,
2026

 

Weighted average remaining lease term (years)

 

 

1.2

 

Weighted average discount rate

 

 

8.1

%

 

Operating lease expense and variable lease expense consisted of the following (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Operating lease expense

 

$

88

 

 

$

88

 

 

$

176

 

 

$

176

 

Variable lease expense

 

 

20

 

 

 

41

 

 

 

47

 

 

 

86