Debt

6 Months Ended

Jun. 30, 2022

Debt

Debt

6. Debt

The following discussion of the Company’s debt should be read in conjunction with Note 8 to the Notes to the Consolidated Financial Statements in the 2021 Form 10-K.

As of June 30, 2022 and December 31, 2021, long-term debt consisted of the following (in thousands):

	June 30,		December 31,
	2022		2021
Principal amount of long‑term debt	$	20,000	$	20,000
Less: Current portion of long‑term debt		(5,000)		(1,667)
Long‑term debt, net of current portion		15,000		18,333
Final debt payment liability		700		700
Debt discount, net of accretion		(482)		(622)
Long‑term debt, net of discount and current portion	$	15,218	$	18,411

As of June 30, 2022 and December 31, 2021, the interest rate applicable to borrowings under the 2020 Credit Facility was 9.35% and 8.40%, respectively.

The estimated future principal payments due were as follows (in thousands):

	June 30,
	2022
2022 (Remaining six months)	$	1,666
2023		6,667
2024		6,667
2025		5,000
2026		—
	$	20,000

As of June 30, 2022, the Company was in full compliance with all financial covenants of the Loan Agreement.