Leases (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Schedule of Right of Use Asset and Related Lease Liability and Supplemental Cash Flow Information

Because the rate implicit in the lease is not readily determinable, we use our incremental borrowing rate to determine the present value of lease payments. Information related to our right-of-use asset and related lease liability were as follows:

	As of December 31,
(in thousands)	2024		2023
Operating right-of-use asset, net	$	5,454	$	6,288
Operating lease liability, current portion	$	839	$	780
Operating lease liability, net of current portion		4,869		5,708
	$	5,708	$	6,488

	For the Year Ended December 31,
(in thousands)	2024		2023
Cash paid for operating lease liabilities	$	1,001	$	1,001

Schedule of Future Amortization of Lease Liability

Operating lease expense is recognized on a straight-line basis over the lease term. Our operating lease expense was $1.1 million for both 2024 and 2023. Future amortization of our lease liability as of December 31, 2024 is expected to be as follows:

(in thousands)
2025	$	1,035
2026		1,064
2027		1,093
2028		1,123
2029		1,154
Thereafter		883
Future lease payments, gross		6,352
Less: Imputed interest		(644	)
Operating lease liability	$	5,708