v3.26.3
Term Loan (FY) (Tables)
 6 Months Ended 12 Months Ended
Jun. 30, 2026
Dec. 31, 2025
Debt Disclosure [Abstract]    
Schedule of Long-Term Debt Instruments
The outstanding note payable consisted of the following as of December 31, 2025 (in thousands) :
 
 
 
 
Note payable
 
 
$30,000
Unamortized debt discount and issuance costs
 
 
(1,764)
Net carrying amount of note payable
 
 
$28,236
 
 
 
 
The outstanding term loans payable consists of the following:
 
 
 
 
 
 
 
December 31,
 
 
 
2025
 
 
2024
 
 
 
(in thousands)
Note payable
 
 
$30,000
 
 
$30,000
Unamortized debt discount and issuance costs
 
 
(1,764)
 
 
(3,905)
Net carrying amount of note payable
 
 
28,236
 
 
26,095
Less: current portion of note payable
 
 
(28,236)
 
 
—
Note payable, net, less current portion
 
 
$—
 
 
$26,095
 
 
 
 
 
 
 
Schedule of Interest Expense
The following table provides the components of interest expense related to the K2HV Loan Agreement:
 
 
 
 
 
 
 
 
 
 
Three Months Ended
June 30,
 
 
Six Months Ended
June 30,
 
 
 
2026
 
 
2025
 
 
2026
 
 
2025
 
 
 
(in thousands)
Interest expense based on coupon interest rate (10.3%) of outstanding term loans
 
 
$299
 
 
$781
 
 
$1,072
 
 
$1,554
Amortization of debt discount and accretion of Final Fee (8.94%)
 
 
176
 
 
520
 
 
771
 
 
1,010
Total interest expense on effective rate (19.24%)
 
 
$475
 
 
$1,301
 
 
$1,843
 
 
$2,564
 
 
 
 
 
 
 
 
 
 
 
 
 
The following table provides the components of interest expense related to the K2HV Loan Agreement:
 
 
 
 
 
 
 
Year Ended December 31,
 
 
 
2025
 
 
2024
 
 
 
(in thousands)
Interest expense based on coupon interest rate (10.3%) of outstanding term loans
 
 
$3,133
 
 
$2,094
Amortization of debt discount and accretion of Final Fee (8.94%)
 
 
2,141
 
 
1,217
Total interest expense on effective rate (19.24%)
 
 
$5,274
 
 
$3,311
 
 
 
 
 
 
 
Schedule of Principal Payments and Final Fee  
The following table presents the total principal payments and Final Fee contractually scheduled to become due during each of the years ended December 31 (in thousands):
 
 
 
 
2026
 
 
$9,600
2027
 
 
14,400
2028
 
 
8,085
Total principal payments and Final Fee
 
 
$32,085