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Leases, Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Amount of Operating Leases

The following table shows the amounts of operating leases in the balance sheets as of December 31, 2024 and 2023:

 

 

 

 

 

December 31,

 

Balance sheet location

 

Balance sheet caption

 

2024

 

 

2023

 

 

 

 

 

(in thousands)

 

Assets

 

 

 

 

 

 

 

 

Right-of-use operating asset

 

Right-of-use operating asset

 

$

10,753

 

 

$

4,458

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

Current operating lease
   liabilities

 

Operating lease liability, current portion

 

 

1,318

 

 

 

5,165

 

Long-term operating lease
   liabilities

 

Operating lease liability, net of current portion

 

 

10,518

 

 

 

 

 

 

 

 

$

11,836

 

 

$

5,165

 

Schedule of Lease Expense by Lease Type Recognized

The following table shows the amounts of lease expense by lease type that was recognized during the years ended December 31, 2024, 2023, and 2022:

 

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

 

 

(in thousands)

 

Operating lease cost

 

$

5,972

 

 

$

6,748

 

 

$

6,748

 

Variable lease cost

 

 

1,454

 

 

 

1,957

 

 

 

1,846

 

Short-term lease cost

 

 

20

 

 

 

20

 

 

 

206

 

Sublease income

 

 

 

 

 

(434

)

 

 

(421

)

 

 

$

7,446

 

 

$

8,291

 

 

$

8,379

 

Schedule of Minimum Lease Payments

The minimum lease payments are expected to be as follows:

 

Years Ending December 31,

 

(In thousands)

 

2025

 

$

2,461

 

2026

 

 

2,976

 

2027

 

 

3,059

 

2028

 

 

3,144

 

2029

 

 

3,232

 

Thereafter

 

 

542

 

Total lease payments

 

 

15,414

 

Less imputed interest

 

 

(3,578

)

Present value of operating lease liabilities

 

$

11,836

 

Schedule of Weighted Average Remaining Lease Term and Weighted Average Discount Rate of Our Operating Leases

The following table shows the weighted average remaining lease term and weighted average discount rate of the operating leases:

 

 

 

Year ended December 31,

 

 

2024

 

2023

Weighted average remaining lease term in years

 

5.17

 

0.69

Weighted average discount rate

 

10.0%

 

7.5%

Schedule of Supplemental Disclosure of Cash Flow Information Related to Operating Leases

The following table shows the supplemental disclosure of cash flow information related to the operating leases included in cash flows used by operating activities in the consolidated statements of cash flows:

 

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

 

 

(in thousands)

 

Cash paid for amounts included in the
   measurement of lease liabilities

 

$

3,958

 

 

$

7,643

 

 

$

7,468

 

 

 

 

 

 

 

 

 

 

Right-of-use assets obtained in exchange
   for operating lease obligations:

 

$

11,597

 

 

$

 

 

$