Leases

9 Months Ended

Sep. 30, 2025

16. LEASES

The Company has operating leases for its various facilities. As of September 30, 2025 and December 31, 2024, the Company’s weighted-average remaining lease term was 4.7 years and 5.2 years, respectively. As of September 30, 2025 and December 31, 2024, the weighted-average discount rate was 7.6% and 8.2%, respectively.

The components of lease cost were as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Operating lease cost(1)
Fixed lease cost	$	1,614	$	672	$	3,273	$	1,846
Short-term cost		818		67		1,049		147
Total operating lease cost	$	2,432	$	739	$	4,322	$	1,993

(1)

The lease costs are reflected in the condensed consolidated statements of operations as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Cost of revenue	$	520	$	64	$	785	$	187
Research and development		614		461		1,793		1,198
Sales and marketing		55		60		290		116
General and administrative		1,243		154		1,454		492
Total operating lease cost	$	2,432	$	739	$	4,322	$	1,993

Supplemental cash flow and other information related to operating leases was as follows (in thousands):


	Three Months Ended September 30,					Nine Months Ended September 30,
	2025		2024			2025		2024
Cash payments (receipts) included in the measurement of operating lease liabilities, net of lease incentives	$	1,940	$	(835	)	$	3,483	$	(2,932	)

As of September 30, 2025, maturities of operating lease liabilities are as follows (in thousands):


	Amount
Year Ending December 31,
2025	$	2,313
2026		8,872
2027		7,576
2028		5,864
2029		4,578
Thereafter		4,879
Total lease payments	$	34,082
Less: imputed interest		(5,566	)
Present value of operating lease liabilities	$	28,516