Debt |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt |
Revolving Lines of Credit
On May 26, 2026, the Company entered into a revolving overdraft credit facility with Danske Bank providing borrowing capacity of up to DKK 60.0 million, or $9.2 million with a foreign exchange rate as of June 30, 2026, to support the working capital needs of Sky-Watch. Borrowings under the facility bear interest at a variable rate equal to the applicable overnight reference rate (Danish Overnight Index Short-Term Rate, Euro Short-Term Rate, and Secured Overnight Financing Rate, as applicable) plus 1.75%, are subject to annual renewal, and were classified as revolving lines of credit as of June 30, 2026 in the accompanying condensed consolidated balance sheets. As of June 30, 2026, the outstanding balance under the revolving overdraft credit facility was $5.5 million.
Current Maturities of Debt and Long-Term Debt
Current maturities of debt and long-term debt consist of the following as of June 30, 2026 and December 31, 2025:
As of June 30, 2026, the Company has repaid in full its outstanding balance under the U.S. Small Business Administration COVID-19 Economic Injury Disaster Loan.
As of June 30, 2026, all outstanding debt is scheduled to mature within the next twelve months and are therefore classified as current liabilities in the accompanying condensed consolidated balance sheets. |
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