v3.25.1
Leases (Tables)
3 Months Ended
Mar. 31, 2025
Leases [Abstract]  
Schedule of Future Minimum Lease Payments

As of March 31, 2025, operating leases had a weighted-average remaining lease term of 9.8 years and a weighted-average discount rate of 10.6%. Discount rates are based on estimates of the Company's incremental borrowing rate, as the discount rates implicit in the leases cannot be readily determined. Future lease payments under operating leases as of March 31, 2025 were as follows (in thousands):

 

 

Amount

 

2025 (remaining nine months)

 

$

5,982

 

2026

 

 

7,230

 

2027

 

 

7,189

 

2028

 

 

5,215

 

2029

 

 

5,371

 

2030 and thereafter

 

 

37,426

 

Total future minimum lease payments

 

 

68,413

 

Less: imputed interest

 

 

(26,829

)

Present value of future minimum lease payments

 

 

41,584

 

Less: current portion of operating lease liability (included in accrued and other current liabilities)

 

 

(7,472

)

Long-term operating lease liabilities

 

$

34,112

 

Components of Lease Costs

Components of lease costs were as follows (in thousands):

 

 

Three Months Ended March 31,

 

 

 

2025

 

 

2024

 

Lease cost

 

 

 

 

 

 

Operating lease cost

 

$

1,479

 

 

$

1,521

 

Short-term lease cost

 

 

1

 

 

 

187

 

Variable lease cost

 

 

370

 

 

 

360

 

Total lease cost

 

$

1,850

 

 

$

2,068