XML 38 R32.htm IDEA: XBRL DOCUMENT v3.25.2
Commitments and Contingencies (Tables)
 6 Months Ended
Jun. 30, 2025
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 June 30, 2025 (in thousands):

 

Remainder of 2025

 

$

3,666

 

2026

 

 

6,864

 

2027

 

 

6,736

 

2028

 

 

6,208

 

2029

 

 

6,123

 

Thereafter

 

 

10,698

 

Total undiscounted lease payments

 

 

40,295

 

Less: imputed interest

 

 

(7,583

)

Operating lease liabilities

 

 

32,712

 

Less: current portion of operating lease liabilities

 

 

(6,505

)

Operating lease liabilities, less current portion

 

$

26,207

 
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 June 30, 2025 and December 31, 2024 are as follows:

 

 

 

June 30,
2025

 

 

December 31,
2024

 

Weighted-average remaining lease term (years)

 

 

5.9

 

 

 

6.4

 

Weighted-average discount rate

 

 

7.0

%

 

 

6.9

%
Summary of Operating Leases

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

 

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Rent expense

 

$

1,901

 

 

$

2,040

 

 

$

3,726

 

 

$

3,505

 

Cash paid for amounts included in measurement of lease liabilities

 

$

1,839

 

 

$

1,763

 

 

$

3,668

 

 

$

3,186