14. Subsequent Events

On August 5, 2026, the Company entered into a Credit, Security and Guaranty Agreement (the “Credit Agreement”) by and among the Company, as borrower, MidCap Funding IV Trust, as agent, MidCap Financial Trust, as term loan servicer, and the lenders from time to time party thereto (the “Lenders”). The Credit Agreement provides for (i) a term loan facility, consisting of a $30.0 million commitment and an additional $25.0 million of uncommitted capital that may be available at the Lender's discretion, and (ii) a revolving loan facility in an aggregate principal amount of up to $20.0 million, which may be increased to up to $30.0 million at the Company's discretion upon satisfaction of certain conditions set forth therein. The $20.0 million revolving credit facility operates on a non-formula

basis through December 31, 2027, after which time, availability under the facility will be subject to a borrowing base based on eligible accounts receivable and inventory. The term loan is callable at the Company's request at any time before December 31, 2028. At closing, the Company borrowed $20.0 million under the revolving facility and has no balance drawn under the term loan. The proceeds of borrowings under the Credit Agreement were used to repay in full the Company's outstanding obligations under the VLSA described in Note 9. Future borrowings will be used for working capital and general corporate purposes. The VLSA was terminated on August 5, 2026.

The foregoing description of the Credit Agreement is qualified in its entirety by reference to the full text of the Credit Agreement, filed as Exhibit 10.1 to this Quarterly Report on Form 10-Q. The Company has evaluated subsequent events through the date these financial statements were issued.