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Leases | 6 Months Ended
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Jun. 30, 2026
Leases [Abstract] |
Leases | Note 9. Leases Lessee The Company is a lessee to various non-cancelable operating leases with varying terms through March 2034, primarily for laboratory and office space and equipment. The Company has options to renew some of these leases after their expiration. On a lease-by-lease basis, the Company considers such options, which may be elected at the Company’s sole discretion, in determining the lease term. The Company also has various finance leases for lab equipment with varying terms through December 2026, some of which were acquired in business combinations. The Company does not have any leases with variable lease payments. The Company’s operating lease agreements do not contain any residual value guarantees, material restrictive covenants, bargain purchase options, or asset retirement obligations. The operating and finance lease right-of-use asset, or ROU asset, short-term lease liabilities, and long-term lease liabilities as of June 30, 2026, and December 31, 2025, were as follows:
| June 30, 2026 |  |  | December 31, 2025 |
| (in thousands) |
Operating lease ROU asset, net | $ | 7,198 |  |  | $ | 4,961 |
Operating lease liabilities, short term | $ | 1,855 |  |  | $ | 1,462 |
Operating lease liabilities, long term | $ | 5,609 |  |  | $ | 3,781 |
Finance lease ROU asset, net | $ | 169 |  |  | $ | 339 |
Finance lease liabilities, short term | $ | 181 |  |  | $ | 360 |
Finance lease liabilities, long term | $ | — |  |  | $ | — |
The following was operating and finance lease expense:
| Three Months Ended June 30, |  |  | Six Months Ended June 30, |
| 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
| (in thousands) |
Operating lease cost | $ | 654 |  |  | $ | 446 |  |  | $ | 1,139 |  |  | $ | 881 |
Finance lease cost: |  |  |  |  |  |  |  |  |  |  |
Amortization of ROU assets |  | 85 |  |  |  | 85 |  |  |  | 169 |  |  |  | 217 |
Interest on lease liabilities |  | 2 |  |  |  | 5 |  |  |  | 5 |  |  |  | 11 |
Short-term lease cost |  | 535 |  |  |  | 396 |  |  |  | 1,021 |  |  |  | 957 |
Total lease cost | $ | 1,276 |  |  | $ | 932 |  |  | $ | 2,334 |  |  | $ | 2,066 |
Supplemental information related to leases was the following:
| June 30, 2026 |
Weighted-average remaining lease term, operating leases | 5.32 years |
Weighted-average discount rate, operating leases |  | 6.11 | %
Weighted-average remaining lease term, finance lease | 0.5 years |
Weighted-average discount rate, finance lease |  | 3.21 | %
The following is a maturity analysis of operating and finance lease liabilities using undiscounted cash flows on an annual basis with renewal periods included:
| Operating Leases |  |  | Finance Lease |
| (in thousands) |
Year ending December 31, |  |  |  |  |
2026 (remaining 6 months) |  | 1,190 |  |  |  | 183 |
2027 |  | 1,945 |  |  |  | — |
2028 |  | 1,235 |  |  |  | — |
2029 |  | 1,071 |  |  |  | — |
2030 |  | 1,079 |  |  |  | — |
2031 |  | 1,089 |  |  |  | — |
Thereafter |  | 1,272 |  |  |  | — |
Total lease payments |  | 8,881 |  |  |  | 183 |
Less imputed interest |  | (1,417 | ) |  |  | (2 | )
Total | $ | 7,464 |  |  | $ | 181 |

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- References No definition available. + Details
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