Leases

12 Months Ended

Dec. 31, 2025

Note 11. Leases

The following table presents the components of lease expense in our consolidated statements of operations for the periods presented (in thousands):


	Year Ended December 31,
	2025		2024		2023
Operating lease costs(1)
Single lease costs	$	3,520	$	3,394	$	3,486
Variable lease costs		1,431		1,367		1,280
Sublease income		—		—		(165	)
Total operating lease costs	$	4,951	$	4,761	$	4,601
(1) Includes short-term lease costs, which are immaterial.

The following table presents supplemental cash flow information related to operating leases for the periods presented (in thousands):


	Year Ended December 31,
	2025		2024		2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used	$	3,652	$	4,060	$	4,233

The following table presents weighted-average remaining lease term and weighted-average discount rate related to operating leases as of:


	2025			2024
Weighted-average remaining lease term (years)		11.0			2.8
Weighted-average discount rate		7.5	%		6.9	%

The following table presents future lease payments under operating leases as of December 31, 2025 (in thousands):


	Operating Leases
	Lease Payments
2026	$	2,878
2027		3,894
2028		3,828
2029		3,786
2030		3,279
Thereafter		25,611
Total lease payments	$	43,276
Less: Imputed interest		(15,272	)
Less: Tenant improvement receivable		(4,692	)
Present value of lease liabilities		23,312
Less: Current portion of lease liabilities		776
Lease liabilities, net of current portion	$	22,536

As of December 31, 2025, we have excluded from the table above an additional operating lease that has not yet commenced with aggregate rent payments of $2.2 million. This operating lease will commence in 2026 with a lease term of approximately 12 years.