Debt (Tables)

3 Months Ended

Mar. 31, 2026

The Company accounts for the amortization of the debt discount and issuance costs utilizing the effective interest method. Long-term debt consisted of the following at March 31, 2026 (in thousands):


	March 31, 2026
Face value of debt	$	40,000
Add: payment in-kind interest	1,389
Add: amortized exit fee	399
Less: unamortized debt discount	(907)
Less: unamortized debt issuance cost	(398)
Total long-term debt	$	40,483

Maturities of Long-Term Debt

The future principal payments under the Innovatus Loan are as follows (in thousands):


Years Ending December 31,
2026 (remaining 9 months)	$	—
2027	17,566
2028	21,080
2029	3,513
Total principal payments	42,159
Add: amortized exit fee	399
Less: uncapitalized payment in-kind interest	(770)
Less: unamortized debt discount	(907)
Less: unamortized debt issuance cost	(398)
Total long-term debt	$	40,483

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details