Quarterly report [Sections 13 or 15(d)]

Employee Retirement Plans

v3.25.1
Employee Retirement Plans
 3 Months Ended
Mar. 31, 2025
Retirement Benefits [Abstract]  
Employee Retirement Plans Employee Retirement Plans
Defined Contribution Plan
The Company has a 401(k) defined contribution retirement plan (the 401(k) Plan) covering all eligible employees. Participants may voluntarily contribute on a pre-tax basis an amount not to exceed a maximum contribution amount pursuant to Section 401(k) of the Internal Revenue Code. The Company is not required to contribute, nor has it contributed, to the 401(k) Plan for any of the periods presented.
Pension and Other Defined Benefit Retirement Obligations
The Company maintains defined benefit retirement plans in certain foreign jurisdictions. As of March 31, 2025, the net defined benefit obligation was $0.4 million. As of December 31, 2024, the net defined benefit obligation was $0.4 million. The benefit is based on a formula applied to eligible employee earnings.
Net periodic benefit costs were $40 thousand and $0.1 million for the three months ended March 31, 2025 and 2024, respectively, and were recorded to research and development expenses in the consolidated statements of operations.