Debt (Tables)

9 Months Ended

Sep. 30, 2025

Debt Disclosure [Abstract]

Schedule of Net Carrying Amount

The net carrying amount of the Notes as of September 30, 2025 and December 31, 2024 was:

	September 30, 2025		December 31, 2024
Principal outstanding	$	—	$	30,000
Unamortized debt discount and issuance costs	—		(4,482)
Net carrying value	$	—	$	25,518

The net carrying amount of the Loan as of September 30, 2025 was:

	September 30, 2025		December 31, 2024
Principal outstanding	$	45,000	$	—
Unamortized debt discount and issuance costs	(2,121)		—
Net carrying value	$	42,879	$	—

A summary of these film financing arrangements outstanding as of September 30, 2025 is as follows (dollars in thousands):

Film Financing Arrangement	Principal Outstanding		Carrying Value		Maturity Dates(1)	Capitalized Interest Costs(2)		Total Capitalized Debt Discount / Issuance Costs		Remaining Capitalized Debt Discount / Issuance Costs
2X Blind Partners, Inc.	$	4,999	$	4,733	Ranging from March 2026 through September 2026	$495		$671		$482
Adulting, Inc.	1,144		1,144		Ranging from October 2025 through February 2029	$202		None		None
Gloria De Film, Inc.	420		420		July 31, 2027	$70		None		None
Total	$	6,563	$	6,297		$	767	$	671	$	482

_______________________________

(1)The maturity dates for 2X Blind Partners, Inc. are as follows: $2.6 million on March 16, 2026, $2.4 million on August 16, 2026, $0.2 million on September 14, 2026, and $0.2 million on September 17, 2026. For 2X Blind Partners, Inc., as of September 30, 2025, there was an additional $0.3 million of indebtedness available, but not yet incurred. The maturity dates for Adulting, Inc. are as follows: $0.2 million on October 2, 2025, $0.2 million on January 30, 2026, $0.1 million on February 14, 2026, $0.9 million on May 1, 2026, $0.2 million on September 17, 2026, and the remaining $0.1 million between May 15, 2028 and February 15, 2029. For Adulting, Inc., as of September 30, 2025, there was an additional $0.5 million of indebtedness available, but not yet incurred.

(2)Interest is fixed, unless in the event of default.

Schedule of Future Principal Payments of Long-Term Debt Outstanding

As of September 30, 2025, future principal payments of long-term debt outstanding were as follows:

Year	Amount
2025	$	—
2026	—
2027	420
2028	25,039
2029	13
Total	$	25,472