v3.26.3
Leases (Tables)
9 Months Ended
Sep. 30, 2026
Leases [Abstract]  
Schedule of Operating Lease Costs

The components of operating lease costs were as follows (in thousands):

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Fixed lease cost

 

$

523

 

 

$

523

 

 

$

1,569

 

 

 

1,569

 

Variable lease cost

 

 

198

 

 

 

190

 

 

 

566

 

 

 

447

 

Total operating lease cost

 

$

721

 

 

$

713

 

 

$

2,135

 

 

$

2,016

 

Schedule of Other Information Related to Leases

Other information related to leases was as follows (in thousands, except lease term and discount rate):

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

184

 

 

$

231

 

 

$

685

 

 

$

1,214

 

 

 

 

September 30, 2026

 

 

December 31, 2025

 

Weighted-average remaining lease term (years):

 

 

 

 

 

 

Operating leases

 

 

5.77

 

 

 

6.37

 

Weighted-average discount rate:

 

 

 

 

 

 

Operating leases

 

 

8.7

%

 

 

8.6

%

 

Schedule of Future Minimum Lease Payments and Related Lease Liabilities

Future minimum lease payments and related lease liabilities as of September 30, 2026 were as follows (in thousands):

 

 

Operating Lease Payments (1)

 

2026 (remaining 3 months) (2)

 

$

27

 

2027

 

 

2,454

 

2028

 

 

1,888

 

2029

 

 

1,944

 

2030

 

 

2,003

 

Thereafter

 

 

3,825

 

Total lease payments

 

 

12,141

 

Less: imputed interest

 

 

(2,859

)

Present value of lease liabilities:

 

$

9,282

 

 

 

 

 

Less: current obligations under leases (accrued liabilities)

 

 

1,053

 

Noncurrent operating lease liabilities

 

$

8,229

 

(1) Future minimum lease payments exclude short-term leases as well as payments to landlords for variable common area maintenance, insurance and real estate taxes.

(2) Includes tenant improvements allowance of $0.6 million in 2026.