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COMMITMENTS AND CONTINGENCIES
 12 Months Ended
Dec. 31, 2024
Disclosure Text Block [Abstract]  
Commitments and Contingencies Disclosure COMMITMENTS AND CONTINGENCIES
Lease Commitments

We have entered into office space lease agreements, which qualify as operating leases under ASU No. 2016-02, “Leases (Topic 842)”. Under such leases, we have commitments to pay annual minimum (base) rent. The leases have original terms (excluding extension options) ranging from one year to ten years. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.
We record base rent expense under the straight-line method over the term of the lease. In the accompanying Consolidated Statements of Comprehensive Loss, rent expense is included in operating expenses under general and administrative expenses. The components of the rent expense for the years ended December 31, 2024 and 2023, are as follows (in thousands):
 20242023
Operating lease cost$1,948 $2,397 
Sublease income(4)(18)
Net rent expense$1,944 $2,379 

For purposes of calculating the operating lease assets and lease liabilities, extension options are not included in the lease term unless it is reasonably certain we will exercise the option, or the lessor has the sole ability to exercise the option. The weighted average discount rate of our operating leases is 10% as of December 31, 2024 and 2023. The weighted average remaining lease term is four years and five years as of December 31, 2024 and 2023, respectively.

Supplemental cash flow information related to operating leases for the years ended December 31, 2024 and 2023, are as follows (in thousands):
 20242023
Cash paid for amounts included in the measurement of lease liabilities:  
Operating cash outflows from operating leases$2,106 $2,556 
Non-cash operating activities:
Operating lease assets obtained or removed in exchange for new, modified or terminated operating lease liabilities$419 $(546)

Future minimum commitments over the life of all operating leases, which exclude variable rent payments, are as follows (in thousands):
2025$1,866 
20261,302 
20271,088 
20281,023 
2029683 
Thereafter235 
Total minimum lease payments6,197 
Less: imputed interest(1,181)
Total lease liabilities$5,016 

Contingencies
Although we have been, are, and in the future may be, the defendant or plaintiff in various actions arising in the normal course of business, as of December 31, 2024, we were not currently a party to any material legal proceedings
Commitments Disclosure
Lease Commitments

We have entered into office space lease agreements, which qualify as operating leases under ASU No. 2016-02, “Leases (Topic 842)”. Under such leases, we have commitments to pay annual minimum (base) rent. The leases have original terms (excluding extension options) ranging from one year to ten years. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.
We record base rent expense under the straight-line method over the term of the lease. In the accompanying Consolidated Statements of Comprehensive Loss, rent expense is included in operating expenses under general and administrative expenses. The components of the rent expense for the years ended December 31, 2024 and 2023, are as follows (in thousands):
 20242023
Operating lease cost$1,948 $2,397 
Sublease income(4)(18)
Net rent expense$1,944 $2,379 

For purposes of calculating the operating lease assets and lease liabilities, extension options are not included in the lease term unless it is reasonably certain we will exercise the option, or the lessor has the sole ability to exercise the option. The weighted average discount rate of our operating leases is 10% as of December 31, 2024 and 2023. The weighted average remaining lease term is four years and five years as of December 31, 2024 and 2023, respectively.

Supplemental cash flow information related to operating leases for the years ended December 31, 2024 and 2023, are as follows (in thousands):
 20242023
Cash paid for amounts included in the measurement of lease liabilities:  
Operating cash outflows from operating leases$2,106 $2,556 
Non-cash operating activities:
Operating lease assets obtained or removed in exchange for new, modified or terminated operating lease liabilities$419 $(546)

Future minimum commitments over the life of all operating leases, which exclude variable rent payments, are as follows (in thousands):
2025$1,866 
20261,302 
20271,088 
20281,023 
2029683 
Thereafter235 
Total minimum lease payments6,197 
Less: imputed interest(1,181)
Total lease liabilities$5,016 
Legal Matters and Contingencies
Contingencies
Although we have been, are, and in the future may be, the defendant or plaintiff in various actions arising in the normal course of business, as of December 31, 2024, we were not currently a party to any material legal proceedings
Lessee, Operating Leases
Lease Commitments

We have entered into office space lease agreements, which qualify as operating leases under ASU No. 2016-02, “Leases (Topic 842)”. Under such leases, we have commitments to pay annual minimum (base) rent. The leases have original terms (excluding extension options) ranging from one year to ten years. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.
We record base rent expense under the straight-line method over the term of the lease. In the accompanying Consolidated Statements of Comprehensive Loss, rent expense is included in operating expenses under general and administrative expenses. The components of the rent expense for the years ended December 31, 2024 and 2023, are as follows (in thousands):
 20242023
Operating lease cost$1,948 $2,397 
Sublease income(4)(18)
Net rent expense$1,944 $2,379 

For purposes of calculating the operating lease assets and lease liabilities, extension options are not included in the lease term unless it is reasonably certain we will exercise the option, or the lessor has the sole ability to exercise the option. The weighted average discount rate of our operating leases is 10% as of December 31, 2024 and 2023. The weighted average remaining lease term is four years and five years as of December 31, 2024 and 2023, respectively.

Supplemental cash flow information related to operating leases for the years ended December 31, 2024 and 2023, are as follows (in thousands):
 20242023
Cash paid for amounts included in the measurement of lease liabilities:  
Operating cash outflows from operating leases$2,106 $2,556 
Non-cash operating activities:
Operating lease assets obtained or removed in exchange for new, modified or terminated operating lease liabilities$419 $(546)

Future minimum commitments over the life of all operating leases, which exclude variable rent payments, are as follows (in thousands):
2025$1,866 
20261,302 
20271,088 
20281,023 
2029683 
Thereafter235 
Total minimum lease payments6,197 
Less: imputed interest(1,181)
Total lease liabilities$5,016