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Operating Leases | 3 Months Ended
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Mar. 31, 2026
Leases [Abstract] |
Operating Leases | Operating Leases The Company’s operating leases are related to its corporate headquarters in Newport Beach, California and do not contain any residual value guarantees or material restrictive covenants. The minimum lease payments associated with lease renewal will only be included in the measurement of the lease liability and ROU assets if the exercise of the renewal option is determined to be reasonably certain. The Company considers the timing of the renewal period and other economic factors such as the financial implications of a decision to extend or not to extend a lease in determining if the renewal option is reasonably certain to be exercised. Certain of the Company’s operating leases include variable lease payments that are not determinable at lease commencement. Accordingly, these variable lease payments are excluded from the measurement of ROU assets and lease liabilities and are recognized as lease expense in the period in which they are incurred. The components of operating lease expense are as follows:
| Three Months Ended March 31, |  |
| 2026 |  | 2025 |  |  |  |  |  |
Fixed operating lease expense | $ | 559 |  |  | $ | 471 |  |  |  |  |  |  |
Variable operating lease expense | 148 |  |  | 49 |  |  |  |  |  |  |
Total operating lease expense | $ | 707 |  |  | $ | 520 |  |  |  |  |  |  |
Supplemental information on operating leases is as follows:
| March 31, 2026 |  | December 31, 2025 |  |
Weighted-average remaining lease term (years) | 3.8 |  | 4.1 |  |
Weighted-average discount rate | 9.9 | % |  | 9.9 | % |  |
Operating lease expenses are included in selling, general and administrative expenses in the accompanying condensed consolidated statements of operations and comprehensive loss. Operating lease ROU assets and related current and long-term operating lease liabilities are presented in the accompanying condensed consolidated balance sheets. The following table presents the future minimum lease payments under operating lease agreements with non-cancelable terms as of March 31, 2026:
Fiscal year |
Remainder of 2026 | $ | 1,902 |
2027 | 2,617 |
2028 | 2,709 |
2029 | 2,805 |
2030 | 234 |
Thereafter | — |
Total minimum lease payments | $ | 10,267 |
Less: imputed interest | (1,778) |
Present value of operating lease liabilities | $ | 8,489 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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