Debt (Tables)

3 Months Ended

Mar. 31, 2026

Long-term debt consisted of the following (in thousands):


	March 31,		December 31,
	2026		2025
Term loan payable	$	50,000	$	30,000
End of term charge	5,300		1,425
Future principal payments and end of term charge	$	55,300	$	31,425
PIK interest payable	—		1,088
Unamortized debt issuance costs	(4,824)		(880)
Carrying value of long-term debt	$	50,476	$	31,633
Less: current portion	$	—	$	(17,523)
Non-current portion	$	50,476	$	14,110

Schedule of Future Principal Payments

Future principal payments, including End of Term Charge, are as follows (in thousands):


December 31, 2026	—
December 31, 2027	1,425
December 31, 2028	—
December 31, 2029	22,690
December 31, 2030	25,037
December 31, 2031	$	6,148
Total	$	55,300

- 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