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Leases (Tables)
6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Components of Lease Cost

The components of lease cost recorded in the Company’s condensed consolidated financial statements were as follows (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Lease Cost:

 

 

 

 

 

 

 

 

 

 

 

 

Operating lease cost

 

$

1,292

 

 

$

1,877

 

 

$

2,601

 

 

$

3,736

 

Variable lease cost

 

 

594

 

 

 

586

 

 

 

1,183

 

 

 

1,258

 

Total lease cost

 

$

1,886

 

 

$

2,463

 

 

$

3,784

 

 

$

4,994

 

Summary of Weighted-Average Remaining Lease Term and Discount Rate Related to Operating Leases

The weighted-average remaining lease term and discount rate related to the Company’s operating leases were as follows:

 

 

As of June 30, 2025

 

Weighted-average remaining lease term (in years)

 

 

7.0

 

Weighted-average discount rate

 

 

6.14

%

Summary of Future Lease Payments of Operating Lease Liabilities

Future lease payments of the Company’s operating lease liabilities in accordance with ASC 842 as of June 30, 2025 were as follows (in thousands):

Period ended December 31,

 

 

 

From July 1, 2025 to December 31, 2025

 

$

3,184

 

2026

 

 

6,494

 

2027

 

 

5,131

 

2028

 

 

4,507

 

2029

 

 

4,642

 

Thereafter

 

 

16,010

 

Total lease payments

 

 

39,968

 

Less: Imputed interest

 

 

(7,490

)

Present value of operating lease liability

 

 

32,478

 

Less: current portion of operating lease liability

 

 

(4,552

)

Total operating lease liability, net of current portion

 

$

27,926