v3.26.3
Leases
 9 Months Ended
Sep. 30, 2026
Leases [Abstract]  
Leases Leases
We have operating leases for our corporate headquarters, office spaces and laboratory facilities. One of our office space leases has a finance lease component representing lessor provided furniture and office equipment. Our finance lease, which is presented as part of “Property and equipment, net” on our condensed consolidated balance sheets, is not material.
Certain leases include renewal options at our election and we include the renewal options when we are reasonably certain that the renewal option will be exercised. The lease liabilities were measured using a weighted-average discount rate based on the most recent borrowing rate as of the calculation of the respective lease liability, adjusted for the remaining lease term and aggregate amount of the lease.
The components of lease costs are as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(in thousands)(in thousands)
Straight-line operating lease costs$1,620 $1,213 $4,714 $3,443 
Finance lease costs— 91 29 278 
Variable lease costs975 1,342 2,692 3,822 
Total lease costs$2,595 $2,646 $7,435 $7,543 
Supplemental cash flow information related to leases are as follows:
Nine Months Ended September 30,
20262025
(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases$5,494 $4,757 
Operating cash flows for finance lease$— $344 
Operating lease right-of-use assets obtained in exchange for
   operating lease obligations		$11,580 $3,714 
As of September 30, 2026, future minimum lease payments for our noncancelable operating leases are as follows. Future minimum lease payments under our finance lease are not material.
Amount
(in thousands)
Remainder of 2026$1,075 
Year ending December 31:
20272,425 
20283,488 
20293,106 
20303,183 
20313,030 
Thereafter4,674 
Total future minimum lease payments20,981 
Imputed interest(4,349)
Total$16,632 
Reported as of September 30, 2026
Operating lease liabilities, current portion$1,987 
Operating lease liabilities, net of current portion14,645 
Total operating lease liabilities$16,632 
During the three and nine months ended September 30, 2026 and 2025, we did not identify any indicators of impairment, and no impairment loss was recognized during those periods.
Leases Leases
We have operating leases for our corporate headquarters, office spaces and laboratory facilities. One of our office space leases has a finance lease component representing lessor provided furniture and office equipment. Our finance lease, which is presented as part of “Property and equipment, net” on our condensed consolidated balance sheets, is not material.
Certain leases include renewal options at our election and we include the renewal options when we are reasonably certain that the renewal option will be exercised. The lease liabilities were measured using a weighted-average discount rate based on the most recent borrowing rate as of the calculation of the respective lease liability, adjusted for the remaining lease term and aggregate amount of the lease.
The components of lease costs are as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(in thousands)(in thousands)
Straight-line operating lease costs$1,620 $1,213 $4,714 $3,443 
Finance lease costs— 91 29 278 
Variable lease costs975 1,342 2,692 3,822 
Total lease costs$2,595 $2,646 $7,435 $7,543 
Supplemental cash flow information related to leases are as follows:
Nine Months Ended September 30,
20262025
(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases$5,494 $4,757 
Operating cash flows for finance lease$— $344 
Operating lease right-of-use assets obtained in exchange for
   operating lease obligations		$11,580 $3,714 
As of September 30, 2026, future minimum lease payments for our noncancelable operating leases are as follows. Future minimum lease payments under our finance lease are not material.
Amount
(in thousands)
Remainder of 2026$1,075 
Year ending December 31:
20272,425 
20283,488 
20293,106 
20303,183 
20313,030 
Thereafter4,674 
Total future minimum lease payments20,981 
Imputed interest(4,349)
Total$16,632 
Reported as of September 30, 2026
Operating lease liabilities, current portion$1,987 
Operating lease liabilities, net of current portion14,645 
Total operating lease liabilities$16,632 
During the three and nine months ended September 30, 2026 and 2025, we did not identify any indicators of impairment, and no impairment loss was recognized during those periods.