Debt (Tables)

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

Schedule of Total Debt Outstanding

The following table represents total debt outstanding by agreement as of March 31, 2026:

(Dollars in thousands):	Current portion of debt		Long term debt		Total
Generate loan	$	3,622	$	10,143	$	13,765
Green Cloud secured note	5,491		1,583		7,074
Galaxy loan	928		3,267		4,195
Equipment/ Land loan	—		917		917
Total Debt	$	10,041	$	15,910	$	25,951

The following table represents total debt outstanding by agreement as of December 31, 2025:

(Dollars in thousands):	Current portion of debt		Long term debt		Total
Generate loan	$	3,713	$	10,213	$	13,926
Green Cloud secured note	4,361		3,112		7,473
Galaxy loan	784		3,499		4,283
Equipment/ Land loan	—		1,075		1,075
Total Debt	$	8,858	$	17,899	$	26,757

Schedule of Maturities of Long-Term Debt

The following table represents the future minimum principal payments, which excludes potential cash sweeps, due on debt as of March 31, 2026:

(Dollars in thousands)
Year	2026
2026 (remainder of the year)	$	6,194
2027	7,191
2028	3,278
2029	3,635
2030	8,395
Total	$	28,693

Schedule of Generate Credit Agreement

Generate Credit Agreement

(Dollars in thousands)	Maturity Date	Interest Rate		January 1, 2026- March 31, 2026		September 12, 2025 – December 31, 2025
Tranche A-1	September 12, 2030	14.24	%	$	4,776	$	5,500
Tranche A-3				11,414		11,500
Total drawn loan				16,190		17,000
Less: principal payments				(389)		(810)
Less: debt discount and issuance costs				(2,036)		(2,264)
Total outstanding note				13,765		13,926
(Less) Current note outstanding				(3,622)		(3,713)
Long-term note outstanding				$	10,143	$	10,213

Schedule of Secured Note Financing

Green Cloud secured note

(Dollars in thousands)	Maturity Date	Interest Rate		January 1, 2026- March 31, 2026		January 1, 2025- December 31, 2025
Term Loan and capitalized interest (excludes debt issuance cost)	June 20, 2027	9	%	$	7,803	$	11,748
Less: principal and capitalized interest payments				(487)		(3,945)
Less: debt discount				(73)		(99)
Less: debt issuance costs				(169)		(231)
Total outstanding note				7,074		7,473
(Less) Current note outstanding				(5,491)		(4,361)
Long-term note outstanding				$	1,583	$	3,112

Schedule of Galaxy Loan

Galaxy Loan

(Dollars in thousands)	Maturity Date	Interest Rate		January 1, 2026- March 31, 2026		March 12, 2025 – December 31, 2025
Term Loan	March 12, 2030	15	%	$	4,625	$	5,000
Less: principal payments				(125)		(375)
Less: debt discount and issuance costs				(305)		(342)
Total outstanding note				4,195		4,283
(Less) Current note outstanding				(928)		(784)
Long-term note outstanding				$	3,267	$	3,499