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Debt (Tables)
 9 Months Ended
Sep. 30, 2025
Debt  
Schedule of notes payable

Notes payable at September 30, 2025 and December 31, 2024 consisted of the following:

 

 

September 30,

 

 

December 31,

 

 

 

2025

 

 

2024

 

(in thousands)

 

(unaudited)

 

 

 

 

 

Notes designated at Fair Value Option

 

$

 

30,423

 

 

$

 

35,356

 

Insurance Financing

 

 

 

333

 

 

 

 

135

 

Tempesta Note

 

 

 

—

 

 

 

 

50

 

Total

 

 

30,756

 

 

 

35,541

 

Less: Unamortized discount and debt issuance costs

 

 

 

—

 

 

 

 

—

 

Note payable, net of discount

 

$

 

30,756

 

 

$

 

35,541

 

Notes payable - non-current, net

 

$

 

7,648

 

 

$

 

23,503

 

Notes payable - current, net

 

$

 

23,108

 

 

$

 

12,038

 

 

 

 

 

 

 

 

 

 

Weighted average interest rate on short-term borrowings

 

 

 

8.34

%

 

 

 

7.36

%