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Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Future minimum annual lease payments

Future minimum annual lease payments for all operating leases of the Company are as follows as of December 31, 2024 (in thousands):

 

2025

 

$

7,112

 

2026

 

 

6,615

 

2027

 

 

6,543

 

2028

 

 

6,026

 

2029

 

 

5,941

 

Thereafter

 

 

10,092

 

Total undiscounted lease payments

 

 

42,329

 

Less: imputed interest

 

 

(8,571

)

Operating lease liability

 

 

33,758

 

Less: current portion of operating lease liability

 

 

(6,453

)

Operating lease liability, less current portion

 

$

27,305

 
Summary of Weighted-Average Remaining Lease Term and Discount Rate

The Company’s weighted average remaining lease term and weighted average discount rate as of December 31, 2024 and December 31, 2023 are as follows:

 

 

December 31,

 

 

2024

 

 

2023

 

Weighted average remaining lease term (years)

 

6.4

 

 

 

6.5

 

Weighted average discount rate

 

6.9

%

 

 

5.5

%
Summary of Operating Leases

Information related to the Company’s operating leases is as follows (in thousands):

 

 

Year Ended December 31,

 

 

2024

 

 

2023

 

 

2022

 

Rent expense

$

7,393

 

 

$

5,045

 

 

$

4,643

 

Cash paid for amounts included in measurement of lease liabilities

$

6,296

 

 

$

5,120

 

 

$

4,409