Leases

12 Months Ended

Dec. 31, 2025

Leases

Leases

5. Leases 

All leases were classified as operating leases as of December 31, 2025 and 2024.

Components of operating lease expense were as follows (in thousands): 

	Year Ended
	December 31,
	2025		2024
Operating lease cost	$	4,915	$	5,133
Variable lease cost	$	302	$	209
Short-term lease cost	$	130	$	311

Supplemental information related to operating leases was as follows (in thousands): 

	Year Ended
	December 31,
	2025		2024
Operating cash flows from operating leases	$	4,658	$	4,574
Right-of-use assets obtained in exchange for new operating lease liabilities	$	1,047	$	2,068

As of December 31, 2025, the Company's operating leases had a weighted average remaining lease term of 6.0 years and a weighted average discount rate of 8.0%. 

Future lease payments under operating leases as of December 31, 2025 were as follows (in thousands):

2026	$	3,928
2027		3,104
2028		2,813
2029		2,547
2030		2,154
Thereafter		4,720
Total undiscounted future lease payments	$	19,266
Less: imputed interest		(4,256)
Total lease liability balance	$	15,010

As of December 31, 2025, and 2024, the Company did not enter into leases that have not yet commenced.