Leases (Tables)

9 Months Ended

Sep. 30, 2026

For the three and nine months ended September 30, 2026 and 2025, a summary of the Company’s lease information is shown below:


	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands)	2026		2025		2026		2025
Lease cost:
Operating lease costs	$	185	$	184	$	554	$	544
Other information:
Cash paid for operating leases	$	131	$	128	$	387	$	477
Right-of-use assets obtained in exchange for operating lease liabilities(1)	$	-	$	-	$	-	$	1,153

(1)

The New Seattle Lease resulted in the recognition of $1,153 in right-of-use assets obtained in exchange for operating lease liabilities as of May 1, 2025. The Company applied a 6.0% discount rate, its estimated incremental borrowing rate for similar secured assets, to determine the present value of the lease payments, as the implicit rate in the lease is not readily determinable. The discount rate was based on information available as of the lease commencement date.

Scheduled Future Maturities and Present Value of Operating Lease Liabilities

As of September 30, 2026, scheduled future maturities and present value of the operating lease liabilities are as follows:


(In thousands)
Year	September 30, 2026
Remainder of 2026	$	132
2027		737
2028		859
2029		596
2030		327
2031		336
Total maturities	$	2,987
Present value included in condensed consolidated balance sheet:
Current portion of operating lease liabilities	$	487
Noncurrent operating lease liabilities		2,080
Total operating lease liabilities	$	2,567
Difference between the maturities and related present value of operating lease liabilities	$	420