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Leases (Tables)
12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Components of Lease Expense

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.

 

Supplemental Cash Flow Information Related to Operating Leases

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

 

Schedule of Weighted-Average Remaining Lease Terms and Weighted-Average Discount Rate Related to Operating Leases

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

%

Schedule of Future Lease Payments under Operating Leases

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.