Employee benefit plan

12 Months Ended

Dec. 31, 2024

Retirement Benefits [Abstract]

Employee benefit plan

Employee benefit plan

The Company has a defined contribution plan established under Section 401(k) of the Code (“401(k) Plan”), which covers substantially all employees. Employees who have attained the age of 21 and have worked more than 1,000 hours are eligible to participate in the 401(k) Plan. Employees may contribute up to 95% of eligible pay on a pre–tax basis up to the federal annual limits. For the years ended December 2024, 2023, and 2022, the Company made matching contributions equal to 100% of the first 4% of eligible compensation contributed by participating employees, up to $7 thousand. For the years ended December 31, 2024, 2023 and 2022, the Company recorded expense of $0.8 million, $1.3 million and $1.1 million, respectively, related to its contribution to its 401(k) Plan.