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Leases (Tables)
3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Schedule of Lease Balance Sheet Information

The following table presents the lease balances within the Condensed Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025 (in thousands):

 

 

 

 

March 31,

 

 

December 31,

 

Leases

 

Classification

 

2026

 

 

2025

 

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

Operating

 

Operating leases right-of-use assets

 

$

9,760

 

 

$

9,959

 

Finance

 

Property and equipment, net

 

 

74

 

 

 

81

 

Total lease assets

 

 

 

 

9,834

 

 

 

10,040

 

Liabilities

 

 

 

 

 

 

 

 

Current

 

 

 

 

 

 

 

 

Operating

 

Lease liabilities

 

 

1,474

 

 

 

1,134

 

Finance

 

Lease liabilities

 

 

30

 

 

 

28

 

Noncurrent

 

 

 

 

 

 

 

 

Operating

 

Long-term lease liabilities

 

 

9,265

 

 

 

9,813

 

Finance

 

Long-term lease liabilities

 

 

57

 

 

 

65

 

Total lease liabilities

 

 

 

$

10,826

 

 

$

11,040

 

Schedule of Maturities of Lease Liabilities

Maturities of the Company’s operating and finance lease liabilities as of March 31, 2026 were as follows (in thousands):

 

 

 

Operating

 

 

Finance

 

Year Ended December 31,

 

Leases

 

 

Leases

 

2026 (remainder)

 

$

2,171

 

 

$

30

 

2027

 

 

3,063

 

 

 

40

 

2028

 

 

3,163

 

 

 

34

 

2029

 

 

3,267

 

 

 

 

2030

 

 

3,374

 

 

 

 

Total lease payments

 

 

15,038

 

 

 

104

 

Less: imputed interest

 

 

(4,299

)

 

 

(17

)

Total lease liabilities

 

$

10,739

 

 

$

87

 

Summary of Weighted Average Remaining Lease Term and Discount Rate

The weighted average remaining lease term and weighted average discount rate used to determine lease liabilities related to the Company’s operating and finance leases as of March 31, 2026 and December 31, 2025 were:

 

 

March 31,

 

 

December 31,

 

Lease Term and Discount Rate

 

2026

 

 

2025

 

Weighted average remaining lease term (years)

 

 

 

 

 

 

Operating leases

 

 

2.60

 

 

 

5.08

 

Finance leases

 

 

4.84

 

 

 

2.85

 

Weighted average discount rate

 

 

 

 

 

 

Operating leases

 

 

14.4

%

 

 

14.4

%

Finance leases

 

 

14.4

%

 

 

14.4

%