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Leases (Tables)
12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Lease Cost

The following table summarizes the lease costs recognized under ASC 842 and other information pertaining to the Company’s operating leases for the year ended December 31, 2025 and 2024 (in thousands):

 

 

For the Year Ended December 31,

 

 

 

2025

 

 

2024

 

Operating lease cost

 

$

2,772

 

 

$

2,664

 

Variable lease cost

 

 

1,550

 

 

 

811

 

Total lease cost

 

$

4,322

 

 

$

3,475

 

Schedule of Supplemental Information Related to Remaining Lease Term and Discount Rate

Supplemental information related to the remaining lease term and discount rate are as follows:

 

 

December 31, 2025

 

December 31, 2024

 

Weighted average remaining lease term (in years) – Finance leases

 

 

0.89

 

 

1.88

 

Weighted average remaining lease term (in years) – Operating leases

 

 

8.75

 

 

9.98

 

 

 

 

 

 

 

Weighted average discount rate – Finance leases

 

 

10.57

%

 

10.54

%

Weighted average discount rate – Operating leases

 

 

8.61

%

 

7.84

%

Schedule of Supplemental Cash Flow Information Related to Operating Leases

Supplemental cash flow information related to the Company’s operating leases are as follows (in thousands):

 

For the Year Ended December 31,

 

 

2025

 

 

2024

 

Operating cash flows for operating leases

$

3,019

 

 

$

2,815

 

Schedule of Future Minimum Commitments Under Company's Operating and Finance Leases

As of December 31, 2025, future minimum commitments under ASC 842 under the Company’s operating and finance leases were as follows (in thousands):

 

Year Ending December 31,

Operating

 

Finance

 

2026

 

3,117

 

 

399

 

2027

 

3,228

 

 

 

2028

 

3,343

 

 

 

2029

 

3,463

 

 

 

2030

 

3,516

 

 

 

Thereafter

 

11,401

 

 

 

Total lease payments

 

28,068

 

 

399

 

Less: imputed interest

 

(8,410

)

 

(20

)

Total lease liabilities

$

19,658

 

$

379

 

Lease liabilities, current

 

1,486

 

 

379

 

Lease liabilities, non-current

 

18,172

 

 

 

Total lease liabilities

$

19,658

 

$

379