v3.26.1
Debt (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Instrument [Line Items]  
Summary of Convertible Notes

The following table presents the 2024 CP BF Convertible Note as of June 30, 2026 and December 31, 2025:

 

 

 

As of

 

 

 

June 30, 2026

 

 

December 31, 2025

 

Face value of the CP BF convertible notes

 

$

8,759

 

 

$

8,759

 

Debt premium, net

 

 

—

 

 

 

—

 

Carrying value of the CP BF convertible notes

 

 

8,759

 

 

 

8,759

 

Accrued interest

 

 

1,954

 

 

 

1,558

 

Prepayments made

 

 

(5,012

)

 

 

(5,012

)

Conversions

 

 

(949

)

 

 

(382

)

Total CP BF convertible notes and accrued interest

 

$

4,752

 

 

$

4,923

 
Schedule of Private Placement Offerings The following table presents the maturity date, the original principal amount, the net proceeds received by the Company after original issue discount ("OID") and issuance fees and costs, the initial conversion price per share, and the initial conversion floor price per share at the date of closing for each Note, and the number of warrants and the initial exercise price per share for each Buyer Warrant associated with the Private Placement Offering:

 

 

 

Private Placement Convertible Notes

 

 

Private Placement Warrants

 

Closing Date

 

Note Issued by
the Company

 

Maturity Date of the Note

 

Original Principal Amount of the Note

 

 

Net Proceeds Received by the Company

 

 

Initial Conversion Price per Share

 

 

Initial Conversion Floor Price per Share

 

 

Warrants Issued by the Company

 

Number of Buyer Warrants Issued by the Company

 

 

Initial Buyer Warrant Exercise Price per Share

 

June 30, 2025

 

June 3i Note

 

June 30, 2026

 

$

2,200

 

 

$

1,725

 

 

$

50.00

 

 

$

2.20

 

 

June Warrant

 

 

3,357

 

 

$

50.00

 

August 19, 2025

 

August 3i Note

 

September 19, 2026

 

 

2,200

 

 

$

1,762

 

 

$

50.00

 

 

$

22.00

 

 

August Warrant

 

 

6,306

 

 

$

50.00

 

October 8, 2025

 

October 3i Note

 

October 8, 2026

 

 

2,500

 

 

$

2,011

 

 

$

50.00

 

 

$

12.40

 

 

October Warrant

 

 

20,000

 

 

$

50.00

 

February 13, 2026

 

February 3i Note

 

February 13, 2027

 

 

2,333

 

 

$

1,879

 

 

$

22.20

 

 

$

5.080

 

 

February Warrant

 

 

21,021

 

 

$

22.20

 

Total

 

 

 

 

 

$

9,233

 

 

$

7,377

 

 

 

 

 

 

 

 

 

 

 

50,684

 

 

 

 
Agile Term Notes [Member]  
Debt Instrument [Line Items]  
Summary of Notes

The following presents the Agile Notes for the six months ended June 30, 2026:

 

 

 

Agile Term Notes

 

Balance at December 31, 2025

 

$

1,728

 

Issuance of Agile term notes

 

 

90

 

Loss on issuance

 

 

30

 

Loss on extinguishment

 

 

58

 

Repayments in cash

 

 

(52

)

Conversions

 

 

(1,897

)

Change in fair value

 

 

113

 

Balance at June 30, 2026

 

$

70

 

 

 

 

 

Outstanding principal balance as of June 30, 2026

 

$

55

 

Accrued interest as of June 30, 2026

 

$

—

 
1800 Diagonal Convertible Notes [Member]  
Debt Instrument [Line Items]  
Summary of Notes

The following table presents the 1800 Diagonal Notes for the six months ended June 30, 2026:

 

 

1800 Diagonal

 

Balance at December 31, 2025

 

$

747

 

Issuance of convertible notes

 

 

571

 

Loss on debt issuance

 

 

16

 

Repayments in cash

 

 

(243

)

Change in fair value

 

 

184

 

Conversions

 

 

(521

)

Balance at June 30, 2026

 

$

754

 

 

 

 

 

Outstanding principal balance as of June 30, 2026

 

$

619

 

Accrued interest as of June 30, 2026

 

$

78

 
Private Placement Offering (3i, LP) [Member]  
Debt Instrument [Line Items]  
Summary of Notes

The following table presents the Private Placement Convertible Notes as of June 30, 2026:

 

 

 

3i, LP Notes

 

Balance as of December 31, 2025

 

$

1,856

 

Issuance of Private Placement Convertible Notes

 

 

2,121

 

Loss on debt issuance

 

 

1,039

 

Change in fair value

 

 

(569

)

Conversions

 

 

(3,963

)

Balance as of June 30, 2026

 

$

484

 

 

 

 

 

Outstanding principal balance as of June 30, 2026

 

$

440

 

Accrued interest as of June 30, 2026

 

$

44

 
Boot Capital [Member]  
Debt Instrument [Line Items]  
Summary of Notes

The following table presents the Boot Capital Convertible Note as of June 30, 2026:

 

 

 

Boot Capital

 

Balance at December 31, 2025

 

$

116

 

Repayments in cash

 

 

(66

)

Change in fair value

 

 

14

 

Balance at June 30, 2026

 

$

64

 

 

 

 

 

Outstanding principal balance as of June 30, 2026

 

$

59

 

Accrued interest as of June 30, 2026

 

$

—

 

 

Venture Issuance and Payoff

On March 31, 2026, the Company executed a promissory note ("Venture Note") for an aggregate principal amount of approximately $487 and on April 8, 2026 received net proceeds of approximately $333, after discount and transaction fees. The note has a maturity

date of August 18, 2026, and bears interest at 198.5% per annum. The Company paid off this note on May 6, 2026. Interest expense on the Venture Note totaled approximately $110 and $110 for the three and six months ended June 30, 2026, respectively.

 

TVT Capital Promissory Note

On April 28, 2026, the Company executed a promissory note ("TVT Note") for an aggregate principal amount of approximately $834 and received net proceeds of approximately $579, after discount and transaction fees. The note has a maturity date of January 5, 2027, and bears interest at 106.71% per annum.

Interest expense on the TVT Note totaled approximately $58 and $58 for the three and six months ended June 30, 2026, respectively.

 

The following table presents the TVT Capital Promissory Note as of June 30, 2026:

 

 

 

TVT Capital

 

Balance at December 31, 2025

 

$

—

 

Issuance of term notes

 

 

600

 

Loss on debt issuance

 

 

162

 

Repayments in cash

 

 

(185

)

Change in fair value

 

 

24

 

Balance at June 30, 2026

 

$

601

 

 

 

 

 

Outstanding principal balance as of June 30, 2026

 

$

472

 

Accrued interest as of June 30, 2026

 

$

—