On June 14, 2024, the Company executed a non-interest bearing note payable of $4.5 million upon settlement of a legal matter (the “Note Payable”). The Note Payable is due May 2028 and is discounted based on an imputed interest rate of 6.66%. The Note Payable includes an option for the Company to extend maturity of the note to September 2029 upon written notice before the thirty-seventh payment and, if such option is exercised, the maximum payment amount of the Note Payable increases to $4.8 million.

As of June 30, 2026 and December 31, 2025 the current portion of the Note Payable of $0.8 million and $0.7 million, respectively, is included in Other accrued liabilities in the Company’s Consolidated Balance Sheet.


(in thousands)	As of June 30, 2026		As of December 31, 2025
Note Payable	$	2,446	$	2,810
Unamortized discount	(180)		(265)
Total	$	2,266	$	2,545


(in thousands)	Maturities		Discount Amortization
Six months ending December 31, 2026	$	377	$	74
Year ending December 31, 2027	1,328		97
Year ending December 31, 2028	741		9


Total note payable	$	2,446	$	180

The Company recorded less than $0.1 million discount amortization as interest expense for both the three months ended June 30, 2026 and 2025, respectively. The Company recorded $0.1 million discount amortization as interest expense for both the six months ended June 30, 2026 and 2025, respectively.