Debt (Tables)

6 Months Ended

Jun. 30, 2025

Debt

Schedule of Outstanding Debt

The Company’s outstanding debt was as follows (in thousands):

	June 30, 2025					December 31, 2024
	Outstanding Principal		Fair Value			Outstanding Principal		Fair Value
Convertible promissory notes:
2024 convertible promissory note	$	5,000	$	5,123		$	5,000	$	4,947
Borrowings:
KEB Hana Bank		6,635		6,635			6,122		6,122
IBK Industrial Bank		6,783		6,783			6,259		6,259
Mujin Electronics Co., Ltd.		3,686		3,686			3,401		3,401
Anapass, Inc., related party		16,588		16,588			12,245		12,245
i Best Investment Co., Ltd		2,212		2,212			4,082		4,082
Kyeongho Lee, related party		10,771		10,771			5,517		5,517
Total debt	$	51,675		51,798		$	42,626		42,573
Less: current portion				(51,798	)				(37,626	)
Debt, net of current portion			$	—				$	4,947

Schedule of Expected Future Minimum Principal Payments

Expected future minimum principal payments under the Company’s total debt are as follows as of June 30, 2025 (in thousands):

Years	Convertible Notes Payable		Borrowings		Total
2025, remainder	$	—	$	32,299	$	32,299
2026		5,000		14,376		19,376
Total debt	$	5,000	$	46,675	$	51,675