v3.26.3
Commitments and Contingencies
9 Months Ended
Sep. 30, 2026
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
7. Commitments and Contingencies

Lease Commitments

The Company’s corporate headquarters are located in Emeryville, California and its research facilities are located in Emeryville and Dixon, California, Durham, North Carolina and Tucson, Arizona. It leases approximately 70,000 square feet of space under leases expiring from 2027 to 2032.

The below tables provide supplemental cash flow and other information related to operating leases (in thousands, except for lease term and discount rate):

Nine Months Ended September 30,
20262025
Cash paid for amounts included in the measurement of lease liabilities:$2,914 $2,820 
Right-of-use assets obtained in exchange for lease obligations:$84 $— 

As of September 30,
20262025
Weighted average remaining lease term (in years)5.26.1
Weighted average discount rate4.4 %4.4 %
In addition to base rent, certain of the Company’s operating leases require variable payments. These variable lease costs include amounts relating to common area maintenance and are expensed when the obligation for those payments is incurred and are recognized as operating expenses in the condensed consolidated statements of operations. The following table summarizes the components of operating lease expense for the three and nine months ended September 30, 2026 and 2025:

Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)2026202520262025
Operating lease cost$801 $799 $2,400 $2,397 
Variable lease cost422 427 1,104 1,106 
Total lease costs$1,223 $1,226 $3,504 $3,503 

Future minimum lease commitments are as follows as of September 30, 2026 (in thousands):

Dates
Operating Leases
Remaining three months ending December 31, 2026
$995 
20274,038 
20284,107 
20293,307 
20303,235 
Thereafter4,756 
Total lease payments20,438 
Less imputed interest(2,300)
Present value of lease liabilities$18,138 

Legal Proceedings

From time to time, the Company has been and may be involved in various legal proceedings arising in its ordinary course of business. In the opinion of management, resolution of any pending claims (either individually or in the aggregate) is not expected to have a material adverse impact on the condensed consolidated financial statements, cash flows or financial position and it is not possible to provide an estimated amount of any such loss. However, the outcome of disputes is inherently uncertain. Therefore, although management considers the likelihood of such an outcome to be remote, an unfavorable resolution of one or more matters could materially affect future results of operations or cash flows, or both, in a particular period.