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Leases (Tables)
9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Summary of Effect of Lease Costs in Unaudited Condensed Combined Statements of Operations

The following table summarizes the effect of lease costs in the Company’s unaudited condensed consolidated statements of operations and comprehensive loss:

 

Three Months Ended

 

 

Nine Months Ended

 

 

September 30,

 

 

September 30,

 

(in thousands)

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Operating lease cost

 

$

1,272

 

 

$

1,398

 

 

$

3,828

 

 

$

4,211

 

Variable lease cost

 

 

642

 

 

 

1,111

 

 

 

1,956

 

 

 

3,410

 

Total lease cost

 

$

1,914

 

 

$

2,509

 

 

$

5,784

 

 

$

7,621

 

Schedule of Future Lease Payments under Non-cancelable Leases

Future lease payments under non-cancelable leases as of September 30, 2025 consisted of the following:

(in thousands)

 

September 30,
2025

 

Remainder of 2025

 

$

1,116

 

2026

 

 

2,484

 

Total operating lease payments

 

$

3,600

 

Less: imputed interest

 

 

(53

)

Total operating lease liabilities

 

$

3,547