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Leases
 9 Months Ended
Sep. 30, 2024
Leases [Abstract]  
Leases
Note 6. Leases
The Company leases office space under non-cancellable operating leases. In January 2021, the Company commenced a lease in San Jose, California. The lease expires in February 2028. The Company is obligated to pay approximately $10.5 million over the term of the lease.
The components of operating lease expense were as follows:
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in thousands)2024202320242023
Operating lease cost$368 $368 $1,103 $1,103 
Variable lease expense150 136 450 394 
Total lease expense$518 $504 $1,553 $1,497 
Variable lease expense consists of the Company’s proportionate share of operating expenses, property taxes, and insurance.
As of September 30, 2024, the weighted-average remaining lease term was 3.4 years and the weighted-average discount rate was 5.6%.
As of September 30, 2024, the maturities of the Company’s operating lease liabilities were as follows:
(in thousands)
Remainder of 2024$395 
20251,627 
20261,674 
20271,729 
2028297 
Total lease payments5,722 
Less: Imputed interest(535)
Present value of lease liabilities$5,187