v3.26.3
Commitments and Contingencies (Tables)
9 Months Ended
Sep. 30, 2026
Commitments and Contingencies Disclosure [Abstract]  
Future minimum annual lease payments

Future minimum annual lease payments for all operating leases of the Company are as follows as of September 30, 2026 (in thousands):

 

Remainder of 2026

 

$

1,469

 

2027

 

 

6,038

 

2028

 

 

6,249

 

2029

 

 

6,210

 

2030

 

 

6,323

 

Thereafter

 

 

41,182

 

Total undiscounted lease payments

 

 

67,471

 

Less: imputed interest

 

 

(20,524

)

Operating lease liabilities

 

 

46,947

 

Less: current portion of operating lease liabilities

 

 

(3,340

)

Operating lease liabilities, less current portion

 

$

43,607

 

Summary of Weighted-Average Remaining Lease Term and Discount Rate

The Company’s weighted average remaining lease term and weighted average discount rate as of September 30, 2026 and December 31, 2025 are as follows:

 

 

 

September 30,
2026

 

 

December 31,
2025

 

Weighted-average remaining lease term (years)

 

 

11.1

 

 

 

5.5

 

Weighted-average discount rate

 

 

7.1

%

 

 

7.0

%

Summary of Operating Leases

Information related to the Company’s operating leases is as follows (in thousands):

 

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Rent expense

 

$

1,963

 

 

$

1,920

 

 

$

5,807

 

 

$

5,646

 

Cash paid for amounts included in measurement of lease liabilities

 

$

1,725

 

 

$

1,838

 

 

$

5,453

 

 

$

5,501