v3.26.1
Term Loans (Tables)
6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Future Principal Debt Payments on Term Loan Agreement

Future principal debt payments on the Trinity Term Loan Agreement as of June 30, 2026 are as follows (in thousands):

Year Ending December 31,

 

 

 

2026

 

$

 

2027

 

 

 

2028

 

 

 

2029

 

 

11,969

 

2030

 

 

38,031

 

Total principal payments

 

$

50,000

 

Schedule of Reconcile of Change in Fair Value of Debt

The following table reconciles the change in fair value of the 2025 Trinity Term Loans during the six months ended June 30, 2026 (in thousands):

Trinity Term Loans

 

 

 

Beginning fair value balance as of January 1, 2026

 

$

50,106

 

Principal payments

 

 

 

Change in fair value reported in statements of operations

 

 

115

 

Change in fair value reported in comprehensive loss

 

 

(961

)

Ending fair value balance as of June 30, 2026

 

$

49,260

 

The following table reconciles the change in fair value of the Trinity Term Loans during the three months ended June 30, 2026 (in thousands):

Trinity Term Loans

 

 

 

Beginning fair value balance as of April 1, 2026

 

$

48,961

 

Principal payments

 

 

 

Change in fair value reported in statements of operations

 

 

83

 

Change in fair value reported in comprehensive loss

 

 

216

 

Ending fair value balance as of June 30, 2026

 

$

49,260

 

The following table reconciles the change in fair value of the Success Fees liability during the six months ended June 30, 2026 (in thousands):

 

Success Fees

 

 

 

Ending fair value balance as of January 1, 2026

 

$

1,552

 

Change in fair value of Success Fees

 

 

89

 

Ending fair value balance as of June 30, 2026

 

$

1,641

 

The following table reconciles the change in fair value of the Success Fees liability during the three months ended June 30, 2026 (in thousands):

 

Success Fees

 

 

 

Beginning fair value balance as of April 1, 2026

 

$

1,582

 

Change in fair value of Success Fees

 

 

59

 

Ending fair value balance as of June 30, 2026

 

$

1,641