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Commitments and Contingencies (Tables)
 9 Months Ended
Sep. 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 September 30, 2025 (in thousands):

 

Remainder of 2025

 

$

1,823

 

2026

 

 

6,862

 

2027

 

 

6,734

 

2028

 

 

6,207

 

2029

 

 

6,122

 

Thereafter

 

 

10,696

 

Total undiscounted lease payments

 

 

38,442

 

Less: imputed interest

 

 

(6,969

)

Operating lease liabilities

 

 

31,473

 

Less: current portion of operating lease liabilities

 

 

(6,442

)

Operating lease liabilities, less current portion

 

$

25,031

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

 

 

 

September 30,
2025

 

 

December 31,
2024

 

Weighted-average remaining lease term (years)

 

 

5.7

 

 

 

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
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Rent expense

 

$

1,920

 

 

$

1,959

 

 

$

5,646

 

 

$

5,464

 

Cash paid for amounts included in measurement of lease liabilities

 

$

1,838

 

 

$

1,767

 

 

$

5,501

 

 

$

4,848