Leases

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Leases

Leases

The Company has operating leases primarily related to the Company's principal executive office, automobile leases and other IT related equipment. The lease for the principal executive office has a lease term of 5 years from November 1, 2023, and the automobile leases and IT equipment leases primarily have a term of 3 years. During the years ended December 31, 2025, December 31, 2024 and December 31, 2023 the Company recognized $2.6 million, $3.0 million and $1.0 million, respectively, of operating lease costs, recognized on the statements of operations and comprehensive loss, and paid cash for the amounts included in the measurement of lease liabilities of $2.3 million, $2.6 million and $1.0 million, respectively, which were included in operating cash flows on the statements of cash flows. At December 31, 2025 and December 31, 2024, the weighted-average remaining lease term of operating leases was 1.6 years and 2.1 years, respectively, and the weighted average discount rate was 7.6% and 7.4%, respectively. There was $0.6 million and $3.3 million in right-of-use assets obtained in exchange for lease obligations for the years ended December 31, 2025 and December 31, 2024, respectively. The Company had one additional operating lease and no finance leases that had not yet commenced as of December 31, 2025. The lease not yet commenced includes payments over the term of $0.2 million, which is excluded from the table below.

The following table summarizes the Company's future maturities of operating lease liabilities as of December 31, 2025:

	(in thousands)
2026	$	2,213
2027	440
2028	258
2029	—
2030	—
Total lease payments	2,911
Less imputed interest	(156)
Total	$	2,755

The following table summarizes supplemental balance sheet information related to leases as of December 31, 2025 and 2024:

	December 31,
	2025		2024
Operating Leases	(in thousands)
Total right of use operating lease assets	$	2,922	$	5,513
Operating lease liabilities (short-term)	2,102		2,741
Operating lease liabilities (long-term)	653		2,570
Total lease obligations under operating leases	$	2,755	$	5,311