Related Party Transactions

3 Months Ended

Mar. 31, 2025

Related Party Transactions [Abstract]

Related Party Transactions

15. RELATED PARTY TRANSACTIONS

The Company has contracts with UMD, including contracts to provide certain quantum computing services and facility access, to provide customized quantum computing hardware, and an operating lease. Following the departure of the Company's Chief Scientist, UMD is no longer

considered a related party as of January 1, 2024. Revenue recognized from contracts entered into while UMD was a related party was zero and $1.2 million for the three months ended March 31, 2025 and 2024, respectively.

The Company had the following balances related to contracts entered into while UMD was a related party, as reflected in the condensed consolidated balance sheets (in thousands):

	March 31,		December 31,
	2025		2024
Assets
Operating lease right-of-use asset	$	3,031	$	3,120
Liabilities
Current portion of operating lease liabilities	$	686	$	681
Operating lease liabilities, net of current portion		2,747		2,843