v3.26.1
Leases
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Leases Leases
The Company is a party to various non-cancelable operating lease agreements for certain of its offices. The leases have original lease periods expiring between 2026 to 2031. Some leases include one or more options to renew. The Company does not assume renewals in its determination of the lease term unless the renewals are deemed to be reasonably assured at lease commencement. The lease agreements generally do not contain any material residual value guarantees or material restrictive covenants.
The Company has elected the short-term lease recognition exemption for all leases that qualify. For leases with an initial term of 12 months or less that do not include an option to purchase the underlying asset that the Company is reasonably certain to exercise, the Company does not recognize ROU assets or lease liabilities. Instead, lease payments for short-term leases are recognized as expense on a straight-line basis over the lease term.
The components of lease costs, lease term and the discount rate were as follows for the three and six months ended June 30, 2026 and 2025, respectively:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Finance leases
Amortization of assets under finance leases$— $— $— $— 
Interest— 6 — 17 
Total finance lease costs$— $6 $— $17 
Operating lease cost$369 $341 $526 $692 
Variable lease cost$4 $52 $27 $152 
Short-term lease rent expense$639 $704 $1,375 $1,411 
June 30,December 31,
20262025
Weighted-average remaining lease term
Operating leases4.02.3
Finance leases0.00.0
June 30,December 31,
20262025
Weighted-average discount rate
Operating leases10.5 %10.1 %
Finance leases— %— %
Supplemental cash flow information related to leases for the three and six months ended June 30, 2026 and 2025, respectively:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Cash paid for amounts included in the measurement of lease liabilities:
Payments for operating leases included in cash from operating activities$242 $738 $397 $1,412 
Payments for finance leases included in cash from operating activities$— $6 $— $17 
Payments for finance leases included in cash from financing activities$— $197 $— $389 
Assets obtained in exchange for lease obligations:
Operating leases$3,090 $— $3,090 $— 
Finance leases$— $— $— $— 
The following table outlines future minimum lease payments under the Company’s non-cancellable leases as of June 30, 2026:
Operating Leases
2026$630 
20271,348 
20281,215 
2029903 
2030828 
2031255 
Total undiscounted cash flows5,179 
Less: Imputed interest(1,238)
Present value of lease liabilities$3,941 
Lease liabilities, current$837 
Lease liabilities, non-current3,104 
Present value of lease liabilities $3,941 
As of June 30, 2026, the Company does not have any operating or finance leases which have not yet commenced.
Leases Leases
The Company is a party to various non-cancelable operating lease agreements for certain of its offices. The leases have original lease periods expiring between 2026 to 2031. Some leases include one or more options to renew. The Company does not assume renewals in its determination of the lease term unless the renewals are deemed to be reasonably assured at lease commencement. The lease agreements generally do not contain any material residual value guarantees or material restrictive covenants.
The Company has elected the short-term lease recognition exemption for all leases that qualify. For leases with an initial term of 12 months or less that do not include an option to purchase the underlying asset that the Company is reasonably certain to exercise, the Company does not recognize ROU assets or lease liabilities. Instead, lease payments for short-term leases are recognized as expense on a straight-line basis over the lease term.
The components of lease costs, lease term and the discount rate were as follows for the three and six months ended June 30, 2026 and 2025, respectively:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Finance leases
Amortization of assets under finance leases$— $— $— $— 
Interest— 6 — 17 
Total finance lease costs$— $6 $— $17 
Operating lease cost$369 $341 $526 $692 
Variable lease cost$4 $52 $27 $152 
Short-term lease rent expense$639 $704 $1,375 $1,411 
June 30,December 31,
20262025
Weighted-average remaining lease term
Operating leases4.02.3
Finance leases0.00.0
June 30,December 31,
20262025
Weighted-average discount rate
Operating leases10.5 %10.1 %
Finance leases— %— %
Supplemental cash flow information related to leases for the three and six months ended June 30, 2026 and 2025, respectively:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Cash paid for amounts included in the measurement of lease liabilities:
Payments for operating leases included in cash from operating activities$242 $738 $397 $1,412 
Payments for finance leases included in cash from operating activities$— $6 $— $17 
Payments for finance leases included in cash from financing activities$— $197 $— $389 
Assets obtained in exchange for lease obligations:
Operating leases$3,090 $— $3,090 $— 
Finance leases$— $— $— $— 
The following table outlines future minimum lease payments under the Company’s non-cancellable leases as of June 30, 2026:
Operating Leases
2026$630 
20271,348 
20281,215 
2029903 
2030828 
2031255 
Total undiscounted cash flows5,179 
Less: Imputed interest(1,238)
Present value of lease liabilities$3,941 
Lease liabilities, current$837 
Lease liabilities, non-current3,104 
Present value of lease liabilities $3,941 
As of June 30, 2026, the Company does not have any operating or finance leases which have not yet commenced.