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Leases
3 Months Ended
Mar. 31, 2025
Leases  
Leases

6.Leases

The Company has various leases for office space, which are accounted for as operating leases and generally have terms of less than two years in length, some of which have the option to renew. The Company recognizes monthly operating lease expense on a straight-line basis over the term of the lease as general and administrative expenses in the condensed consolidated statements of operations and comprehensive loss. Variable lease expense relates primarily to office lease common area maintenance, insurance, and property taxes, and it is expensed as incurred. Variable lease expense is also excluded from the calculation of lease liabilities and right-of-use-assets.

The minimum lease payments under the Company’s operating leases are expected to be as follows (in thousands):

Fiscal Year

    

Amount

2025 (remaining nine months)

$

713

2026

453

2027

136

Thereafter

Total future minimum lease payments

1,302

Less: imputed interest

(77)

Total operating lease liabilities

$

1,225