v3.26.1
Term Loans (Tables)
3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Schedule of Future Principal Debt Payments on Term Loan Agreement

Future principal debt payments on the Trinity Term Loan Agreement as of March 31, 2026 are as follows (in thousands):

Year Ending December 31,

 

 

 

2026

 

$

 

2027

 

 

 

2028

 

 

 

2029

 

 

11,969

 

2030

 

 

38,031

 

Total principal payments

 

$

50,000

 

Schedule of Reconcile of Change in Fair Value of Debt

The following table reconciles the change in fair value of the 2025 Trinity Term Loans during the three months ended March 31, 2026 (in thousands):

Trinity Term Loans

 

 

 

Beginning fair value balance as of January 1, 2026

 

$

50,106

 

Principal payments

 

 

 

Change in fair value reported in statements of operations

 

 

32

 

Change in fair value reported in comprehensive loss

 

 

(1,177

)

Ending fair value balance as of March 31, 2026

 

$

48,961

 

 

The following table reconciles the change in fair value of the Success Fees liability during the three months ended March 31, 2026 (in thousands):

 

Success Fees

 

 

 

Ending fair value balance as of January 1, 2026

 

$

1,552

 

Change in fair value of Success Fees

 

 

30

 

Ending fair value balance as of March 31, 2026

 

$

1,582