The Company leases office space, domestically and internationally, under operating leases. The Company’s leases have remaining lease terms generally between one year and eight years. Operating leases are included in operating lease right-of-use (“ROU”) assets, operating lease liabilities and long-term operating lease liabilities on the Company’s Unaudited Condensed Consolidated Balance Sheets. The Company does not have any finance leases.

The table below reconciles the undiscounted cash flows for the first five years and total of the remaining years to the operating lease liabilities recorded in the Unaudited Condensed Consolidated Balance Sheet as of June 30, 2025 (in thousands):


Years ending December 31,	Amount
2025 (remaining six months)	$	3,607
2026		7,563
2027		6,020
2028		4,869
2029		4,871
Thereafter		4,918
Total minimum lease payments		31,848
Less: amount of lease payments representing interest		(3,912	)
Present value of future minimum lease payments		27,936
Less: current obligations under leases		(5,975	)
Long-term lease obligations	$	21,961

As of June 30, 2025, the weighted-average remaining lease term for the Company’s operating leases was 4.9 years and the weighted-average discount rate used to determine the present value of the Company’s operating leases was 7.6%.

Operating lease costs included in research and development and selling, general and administrative costs in the Unaudited Condensed Consolidated Statements of Income were $1.5 million and $1.4 million for the three months ended June 30, 2025 and 2024, respectively. Operating lease costs included in research and development and selling, general and administrative costs in the Unaudited Condensed Consolidated Statements of Income were $2.9 million and $2.6 million for the six months ended June 30, 2025 and 2024, respectively.

Cash paid for amounts included in the measurement of operating lease liabilities was $3.6 million and $3.0 million for the six months ended June 30, 2025 and 2024, respectively.