v3.26.1
FAIR VALUE MEASUREMENTS (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table presents the estimated fair values:

June 30, 2026December 31, 2025
(in thousands)Fair ValueLevel 1Level 2Level 3Fair ValueLevel 1Level 2Level 3
A&R note$5,556 $— $— $5,556 $5,279 $— $— $5,279 
Stock Rights liability$— $— $— $— $6,074 $6,074 $— $— 
Schedule of Fair Value, Liabilities Measured on a Recurring Basis
A reconciliation of debt is as follows:
(in thousands)
June 30, 2026
December 31, 2025
Debt, beginning of period$15,429 $68,363 
Debt issued during period38,250 32,000 
Paid-in-kind interest accrued during period209 17,389 
Debt forgiven— (107,735)
Debt assumed— 5,412 
Change in fair value of convertible note277 — 
Debt, end of period54,165 15,429 
Debt, current portion18,250— 
Debt, long-term portion$35,915 $15,429 
The following table presents a roll-forward of the fair value of the convertible notes payable that will continue to be measured at fair value on a recurring basis for which fair value is determined based on significant inputs not observable in the market, which represents a Level 3 measurement within the fair value hierarchy as of June 30, 2026.

(in thousands)A&R Note
Balance at December 31, 2025$5,279 
Change in fair value during the period277 
Balance at June 30, 2026
$5,556