Quarterly report [Sections 13 or 15(d)]

Leases

v3.25.2
Leases
6 Months Ended
Jun. 30, 2025
Leases  
Leases

6. Leases

Further information regarding our other office leases and accounting thereof are located in Note 2, “Summary of Significant Accounting Policies,” and Note 9, “Leases,” in our Annual Report on Form 10-K filed with the SEC on March 31, 2025.

We recognize lease expense on a straight-line basis over the lease term with variable lease expense recognized in the period in which the costs are incurred. The components of lease expense are included in general and administrative expense in our condensed consolidated statement of operations. Lease expense for the three months ended June 30, 2025 and 2024 was $84 and $174, respectively. Lease expense for the six months ended June 30, 2025 and 2024 was $168 and $344, respectively. The weighted-average remaining lease term for operating leases as of June 30, 2025 was 2.25 years.

Future minimum lease obligations are set forth below:

 

Future minimum lease obligations years ending December 31,

 

Lease
Obligations

 

 2025 (Remainder)

 

$

182

 

2026

 

 

370

 

2027

 

 

284

 

 

 

 

836

 

Less: Portion representing interest

 

 

(56

)

 

 

$

780