v3.25.2
Long-Term Debt (Tables)
6 Months Ended
Jun. 30, 2025
Long-Term Debt  
Schedule of long-term debt

The following table summarizes the impact of the initial term loan on the Company’s condensed consolidated balance sheet as of June 30, 2025 (in thousands):

    

June 30, 2025

Gross principal

$

130,000

Principal repayments

(11,969)

Debt discount and debt issuance costs

(4,158)

Total carrying value net of principal repayments, debt discount, and debt issuance costs

113,873

Less: current portion of long-term debt

(11,672)

Long-term debt

$

102,201

Schedule of projected future principal payments of initial term loan

Aggregate projected future principal payments of the initial term loan as of June 30, 2025, are as follows (in thousands):

Year Ending December 31,

Payments

2025 (excluding the six months ended June 30, 2025)

5,424

2026

 

18,021

2027

 

24,335

2028

30,418

2029

36,367

Thereafter

 

3,466

Total payments

$

118,031

Schedule of interest expense

Accretion of debt discounts and issuance costs are included in interest expense. Interest expense in the condensed consolidated statements of operations for the three and six months ended June 30, 2025 and 2024 relates to the initial term loan (in thousands):

Three Months Ended

Six Months Ended

June 30, 

June 30, 

2025

2024

2025

2024

Accrued interest expense

$

2,914

$

3,120

$

5,954

$

6,365

Accretion of debt discount and debt issuance costs

 

322

 

282

 

 

749

 

588

 

Total interest expense

$

3,236

$

3,402

$

6,703

$

6,953