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Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Summary of operating rent expenses

The following table presents operating rent expense and related short-term lease costs (in thousands):

 

 

YEAR ENDED DECEMBER 31,

 

 

2024

 

 

2023

 

Rent expense

 

$

4,052

 

 

$

4,113

 

Variable lease expense

 

 

2,029

 

 

$

2,329

 

Amount of rent expense related to short-term
   leases

 

 

 

 

 

286

 

 

Summary of future minimum annual obligations under the company's operating leases

Future minimum annual obligations under the Company’s operating leases with terms in excess of one year are as follows (in thousands):

 

Year Ended December 31,

 

 

 

2025

 

 

4,070

 

2026

 

 

3,529

 

2027

 

 

3,520

 

2028

 

 

3,626

 

2029

 

 

2,291

 

Total minimum lease payments

 

 

17,036

 

Less: amount representing interest

 

 

(2,848

)

Present value of operating lease liabilities

 

 

14,188

 

Less: operating lease liabilities, current

 

 

(3,618

)

Operating lease liabilities, net of current portion

 

$

10,570

 

Summary of incremental borrowing rate

As the Company’s leases do not provide an implicit rate, the Company uses an incremental borrowing rate based on average discount rate, which were as follows:

 

 

AS OF

 

 

DECEMBER 31,
2024

 

 

DECEMBER 31,
2023

 

Weighted-average remaining
   lease term

 

4.4 years

 

 

5.3 years

 

Weighted-average discount rate

 

 

7.7

%

 

 

7.8

%

Summary of expected undiscounted cashflow

The expected undiscounted cash flows to be received from the sublease are as follows (in thousands):

 

PERIOD ENDED DECEMBER 31,

 

 

 

2025

 

$

873

 

Total

 

$

873