CONVERTIBLE PROMISSORY NOTES (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2026

Dec. 31, 2025

The following table shows the components of the Company’s indebtedness (in thousands):



		Three Months Ended
		March 31, 2026
Convertible promissory notes principal balance		$	4,300
Change in fair value			300
Total convertible promissory notes, at fair value		$	4,600

The following table shows the components of the Company’s indebtedness (in thousands):



		Year ended December 31,
		2025			2024
Convertible promissory notes principal balance		$	10,000		$	—
Financing costs related to issuance of convertible promissory notes			4,500			—
Change in fair value			4,389			—
Total convertible promissory notes, at fair value		$	18,889		$	—