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Commitments and Contingencies (Tables)
3 Months Ended
Mar. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Future minimum annual lease payments

Future minimum annual lease payments for all operating leases of the Company are as follows as of March 31, 2025 (in thousands):

 

Remainder of 2025

 

$

5,337

 

2026

 

 

6,640

 

2027

 

 

6,565

 

2028

 

 

6,046

 

2029

 

 

5,961

 

Thereafter

 

 

10,214

 

Total undiscounted lease payments

 

 

40,763

 

Less: imputed interest

 

 

(7,891

)

Operating lease liabilities

 

 

32,872

 

Less: current portion of operating lease liabilities

 

 

(6,310

)

Operating lease liabilities, less current portion

 

$

26,562

 

Summary of Weighted-Average Remaining Lease Term and Discount Rate

The Company’s weighted average remaining lease term and weighted average discount rate as of March 31, 2025 and December 31, 2024 are as follows:

 

 

 

March 31,
2025

 

 

December 31,
2024

 

Weighted-average remaining lease term (years)

 

 

6.1

 

 

 

6.4

 

Weighted-average discount rate

 

 

6.9

%

 

 

6.9

%

Summary of Operating Leases

Information related to the Company’s operating leases is as follows (in thousands):

 

 

 

Three Months Ended
March 31,

 

 

 

 

2025

 

 

2024

 

 

Rent expense

 

$

1,825

 

 

$

1,466

 

 

Cash paid for amounts included in measurement of lease liabilities

 

$

1,781

 

 

$

1,419