Long-Term Obligations (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Summary of Future Minimum Payments on Convertible Notes |
Total estimated cash payments due under the financial instruments described in Note 10, “Long-Term Obligations” (excluding the Amended Revenue Interest Agreement as amounts due under this agreement are calculated based on future revenues) are as follows (in thousands):
|
|
|
|
|
|
|
Total Cash Payments |
|
For the three months ended September 30, 2026 |
|
$ |
25,972 |
|
For the three months ended December 31, 2026 |
|
|
14,788 |
|
For the three months ended March 31, 2027 |
|
|
14,507 |
|
For the three months ended June 30, 2027 |
|
|
14,226 |
|
For the twelve months ended June 30, 2027 |
|
$ |
69,493 |
|
|
| Term Loan and Amended Term Loan [Member] |
|
| Schedule of Interest Expense Recognized Related to Convertible Notes |
The following table sets forth total interest expense recognized related to the Term Loan and Amended Term Loan (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months
Ended June 30, |
|
|
For the Six Months
Ended June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Contractual interest expense |
|
$ |
4,393 |
|
|
$ |
3,425 |
|
|
$ |
8,583 |
|
|
$ |
6,820 |
|
Amortization of debt issuance costs |
|
|
484 |
|
|
|
619 |
|
|
|
966 |
|
|
|
1,213 |
|
Total interest expense |
|
$ |
4,877 |
|
|
$ |
4,044 |
|
|
$ |
9,549 |
|
|
$ |
8,033 |
|
Estimated f
|
| Amended Term Loan [Member] |
|
| Summary of Outstanding Balances of Convertible Notes |
The outstanding balance of the Amended Term Loan consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
As of June 30, 2026 |
|
|
As of December 31, 2025 |
|
Principal |
|
$ |
128,981 |
|
|
$ |
120,398 |
|
Less: unamortized debt issuance costs |
|
|
(3,627 |
) |
|
|
(4,593 |
) |
Total |
|
$ |
125,354 |
|
|
$ |
115,805 |
|
|
| Summary of Future Minimum Payments on Convertible Notes |
Estimated future minimum payments on the Amended Term Loan as of June 30, 2026 were as follows (in thousands):
|
|
|
|
|
Years ended December 31, |
|
Future Minimum
Payments |
|
2026 |
|
$ |
32,353 |
|
2027 |
|
|
45,216 |
|
2028 |
|
|
76,068 |
|
Total future minimum payments |
|
|
153,637 |
|
Less: interest expense and unamortized debt issuance costs |
|
|
(28,283 |
) |
Amended Term Loan |
|
$ |
125,354 |
|
|
| New 2029 Notes [Member] |
|
| Summary of Outstanding Balances of Convertible Notes |
The outstanding balance of the New 2029 Notes consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
As of June 30, 2026 |
|
|
As of December 31, 2025 |
|
Principal |
|
$ |
107,974 |
|
|
$ |
105,598 |
|
Less: unamortized debt issuance costs and discounts |
|
|
(28,576 |
) |
|
|
(31,938 |
) |
Plus: fair value of embedded derivatives |
|
|
19,252 |
|
|
|
16,313 |
|
Total |
|
$ |
98,650 |
|
|
$ |
89,973 |
|
|
| 2028 Notes [Member] |
|
| Summary of Outstanding Balances of Convertible Notes |
The outstanding balance of the 2028 Notes consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
As of June 30, 2026 |
|
|
As of December 31, 2025 |
|
Principal |
|
$ |
15,648 |
|
|
$ |
15,304 |
|
Less: unamortized debt issuance costs and discounts |
|
|
(4,736 |
) |
|
|
(5,329 |
) |
Plus: fair value of embedded derivatives |
|
|
15,025 |
|
|
|
11,142 |
|
Total |
|
$ |
25,937 |
|
|
$ |
21,117 |
|
|
| New 2029 Notes and 2029 Notes [Member] |
|
| Schedule of Interest Expense Recognized Related to Convertible Notes |
The following table sets forth total interest expense recognized related to the 2029 Notes and New 2029 Notes (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months
Ended June 30, |
|
|
For the Six Months
Ended June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Contractual interest expense |
|
$ |
2,429 |
|
|
$ |
1,740 |
|
|
$ |
4,805 |
|
|
$ |
3,480 |
|
Amortization of debt issuance costs and discounts |
|
|
1,761 |
|
|
|
2,076 |
|
|
|
3,361 |
|
|
|
4,022 |
|
Total interest expense |
|
$ |
4,190 |
|
|
$ |
3,816 |
|
|
$ |
8,166 |
|
|
$ |
7,502 |
|
|
| 2029 and 2028 Notes [Member] |
|
| Summary of Future Minimum Payments on Convertible Notes |
Future minimum payments on the New 2029 Notes and 2028 Notes as of June 30, 2026 were as follows (in thousands):
|
|
|
|
|
|
|
|
|
Years ended December 31, |
|
New 2029 Notes |
|
|
2028 Notes |
|
2026 |
|
$ |
7,343 |
|
|
$ |
1,064 |
|
2027 |
|
|
9,718 |
|
|
|
1,408 |
|
2028 |
|
|
9,718 |
|
|
|
16,763 |
|
2029 |
|
|
111,491 |
|
|
|
— |
|
Total future minimum payments |
|
|
138,270 |
|
|
|
19,235 |
|
Less: interest expense and unamortized debt issuance costs and discounts |
|
|
(58,872 |
) |
|
|
(8,323 |
) |
Plus: fair value of embedded derivatives |
|
|
19,252 |
|
|
|
15,025 |
|
Total |
|
$ |
98,650 |
|
|
$ |
25,937 |
|
|