v3.26.3
Leases
9 Months Ended
Sep. 30, 2026
Leases [Abstract]  
Leases Leases
On January 8, 2019, the Company entered into a ten-year non-cancelable operating lease agreement, expiring on August 31, 2030, for office space. The lease includes one option to renew, but the renewal is not deemed to be reasonably assured as of September 30, 2026. Our lease agreement does not contain any material residual value guarantees or material restrictive covenants.
Operating lease expense was $0.2 million for the three months ended September 30, 2026 and 2025 and $0.6 million for the nine months ended September 30, 2026 and 2025, respectively.
As of September 30, 2026, our lease had a remaining lease term of 3.9 years and a discount rate of 7.5%. Future lease payments as of September 30, 2026 were as follows (in thousands):
Operating
 Leases
2026$274 
20271,113 
20281,140 
20291,169 
2030795 
Total future lease payments4,491 
Less: Imputed interest595 
Present value of lease liabilities
$3,896 
Lease liabilities, current1,069 
Lease liabilities, non-current2,827 
Present value of lease liabilities
$3,896 
Other information related to our lease for the three and nine months ended September 30, 2026 and 2025 is as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows$274 268 $811 792