LOANS PAYABLE, NET (Tables)

6 Months Ended

Jun. 30, 2026

Loans payable, net consisted of the following (in thousands):


	Effective Interest Rate	As of June 30, 2026		As of December 31, 2025
Loans payable, net, current:
Equipment Financing Term Loan, current	16.45%	$	146	$	134
Total loans payable, net, current		$	146	$	134
Loans payable, net, non-current:
SIF Loan	Variable1	$	34,662	$	35,525
Equipment Financing Term Loan, non-current		224		300
Total loans payable, net, non-current		$	34,886	$	35,825

1Refer below for additional information on the SIF Loan repayment period and effective interest rate.

- 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