v3.26.3
Leases (Tables)
 9 Months Ended
Sep. 30, 2026
Leases [Abstract]  
Schedule of Components of Lease Expense The following components of lease expense are included in the condensed consolidated statements of operations 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$333 $477 $1,335 $1,455 
Net lease cost$333 $477 $1,335 $1,455 
Schedule of Balance Sheet Classification of Operating Lease The balance sheet classification of lease liabilities was as follows:
(in thousands)September 30,
2026		December 31,
2025
Liabilities
Lease liability current portion$1,844 $1,044 
Lease liability non-current6,895 7,021 
Total lease liability$8,739 $8,065 
Schedule of Operating Lease Maturity
As of September 30, 2026, the maturities of lease liabilities were as follows:
(in thousands)Operating
leases
Remainder of 2026$530 
20271,965 
20282,162 
20292,200 
20302,239 
After 20311,706 
Total lease payments10,802 
Less: interest(2,063)
Present value of lease liabilities(*)$8,739 
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(*)As the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date and considering the term of the lease to determine the present value of lease payments. The Company used the incremental borrowing rate of 10.25% on February 28, 2019, for operating leases that commenced prior to that date through December 31, 2021. The Company used an incremental borrowing rate of 5.65% for the NC lease. The Company used an incremental borrowing rate of 8.4% for the modified Office Agreement operating lease.