Commitments and Contingencies (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Commitments And Contingencies Disclosure [Abstract] |
|
| Schedule Of Royalty Liability Account Roll Forward |
The following table shows the activity within the Royalty Liability account as well as the effective interest rate (dollars in thousands):
|
|
|
|
|
Amount |
|
Balance, January 1, 2026 |
$ |
151,283 |
|
Amortization of deferred transaction costs |
|
114 |
|
Non-cash interest expense on liability for sale of future royalties |
|
2,959 |
|
Royalty revenue earned by or payable to Sagard |
|
(6,512 |
) |
Balance, June 30, 2026 |
$ |
147,844 |
|
|
|
|
Effective interest rate |
|
1.2 |
% |
|
| Schedule of Lease Term and Discount Rate |
Lease information was as follows (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
June 30, 2026 |
|
|
December 31, 2025 |
|
Operating lease right-of-use assets(1) |
|
$ |
10,847 |
|
|
$ |
11,822 |
|
|
|
|
|
|
|
|
Operating lease liability-current(2) |
|
|
2,076 |
|
|
|
2,110 |
|
Operating lease liability-long-term |
|
|
9,687 |
|
|
|
10,689 |
|
Total |
|
|
11,763 |
|
|
$ |
12,799 |
|
|
|
|
|
|
|
|
Weighted average remaining lease term (in years) |
|
|
6.0 |
|
|
|
6.4 |
|
Weighted average discount rate |
|
|
7.6 |
% |
|
|
7.6 |
% |
(1)Operating right-of-use assets related to offices and the manufacturing facility for V-Go are included in other assets in the condensed consolidated balance sheets. (2)Operating lease liability – current is included in accrued expenses and other current liabilities in the condensed consolidated balance sheets.
|
| Summary of Lease Information |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended June 30, |
|
|
Six Months
Ended June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Interest expense |
|
$ |
2,362 |
|
|
$ |
2,381 |
|
|
$ |
4,705 |
|
|
$ |
4,740 |
|
Amortization of debt issuance costs |
|
|
52 |
|
|
|
52 |
|
|
|
102 |
|
|
|
103 |
|
Interest expense on financing liability |
|
$ |
2,414 |
|
|
$ |
2,433 |
|
|
$ |
4,807 |
|
|
$ |
4,843 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended June 30, |
|
|
Six Months
Ended June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Operating lease costs |
|
$ |
698 |
|
|
$ |
730 |
|
|
$ |
1,489 |
|
|
$ |
1,459 |
|
Variable lease costs |
|
|
108 |
|
|
189 |
|
|
|
256 |
|
|
432 |
|
Cash paid |
|
|
806 |
|
|
919 |
|
|
|
1,745 |
|
|
|
1,891 |
|
|
| Summary of Remaining Financing Liability Payments |
The Company's remaining financing liability payments were as follows (in thousands):
|
|
|
|
|
|
|
June 30, 2026 |
|
2026 |
|
$ |
5,290 |
|
2027 |
|
|
10,849 |
|
2028 |
|
|
11,174 |
|
2029 |
|
|
11,510 |
|
2030 |
|
|
11,855 |
|
Thereafter |
|
|
153,913 |
|
Total |
|
|
204,591 |
|
Interest payments |
|
|
(99,451 |
) |
Debt issuance costs |
|
|
(2,157 |
) |
Total financing liability |
|
$ |
102,983 |
|
|
| Remaining Purchase Commitments and Estimated Capacity Fee Liability Requirements |
The Company's remaining purchase commitments and estimated capacity fee liability as of June 30, 2026 were as follows (€ in millions):
|
|
|
|
|
|
|
|
|
June 30, 2026 |
|
|
Remaining Purchase Commitments
(€ in millions) |
|
|
Estimated Capacity Fees(1)
(€ in millions) |
|
2026 (Remaining)(1) |
|
— |
|
|
|
1.5 |
|
2027 |
|
3.2 |
|
|
|
2.3 |
|
2028 |
|
5.6 |
|
|
|
1.3 |
|
2029 |
|
5.8 |
|
|
|
1.0 |
|
2030 |
|
5.8 |
|
|
|
1.0 |
|
2031 |
|
5.8 |
|
|
|
1.0 |
|
2032 |
|
7.3 |
|
|
|
0.6 |
|
2033 |
|
7.7 |
|
|
|
0.5 |
|
2034 |
|
7.7 |
|
|
|
0.5 |
|
2035 |
|
5.2 |
|
|
|
0.5 |
|
2036 |
|
1.1 |
|
|
|
0.1 |
|
Total |
|
55.2 |
|
|
|
10.3 |
|
(1)During the three and six months ended June 30, 2026, the Company incurred a capacity fee of €0.8 million, or $0.9 million, and €1.5 million, or $1.7 million, respectively, which was recognized as cost of goods sold for commercial sales in our condensed consolidated statement of operations.
|
| Schedule of Future Minimum Office Lease Payments |
The Company's future minimum office lease payments were as follows (in thousands):
|
|
|
|
|
|
|
June 30, 2026 |
|
2026 |
|
$ |
1,388 |
|
2027 |
|
|
2,834 |
|
2028 |
|
|
2,455 |
|
2029 |
|
|
1,735 |
|
2030 |
|
|
1,528 |
|
Thereafter |
|
|
4,708 |
|
Total |
|
|
14,648 |
|
Less: imputed interest |
|
|
(2,885 |
) |
Total operating lease liability |
|
$ |
11,763 |
|
|