Insurance Premium Financing |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 | |||
| Insurance [Abstract] | |||
| Insurance Premium Financing |
During the year ended December 31, 2025, the Company entered into various one-year financing agreements to fund a portion of its insurance premiums totaling $0.2 million, payable through monthly installments. The applicable interest rates ranged from 6.49% to 8.99%, and the agreements did not contain any financial or non-financial covenants.
On November 15, 2024, the Company entered into a separate one-year financing agreement with IPFS Corporation to fund insurance premiums of $0.2 million. Repayments were scheduled quarterly on January 15, 2025, April 15, 2025, and July 15, 2025, at which time the financing was fully repaid. The agreement bore interest at 8.99% and did not include any covenants.
As of December 31, 2025 and 2024, the outstanding balance related to insurance premium financing was $0.2 million. |