Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2025

Long-Term Debt.

Schedule of long-term debt

The following table summarizes the impact of the initial term loan on the Company’s consolidated balance sheet as of December 31, 2025 (in thousands):

	December 31, 2025
Gross principal	$	130,000
Principal repayments		(17,502)
Debt discount and debt issuance costs		(3,521)
Total carrying value net of principal repayments, debt discount, and debt issuance costs		108,977
Less: current portion of long-term debt		(12,526)
Long-term debt	$	96,451

Schedule of projected future principal payments of initial term loan

Aggregate projected future principal payments of the initial term loan as of December 31, 2025, are as follows (in thousands):

Year Ending December 31,	Payments
2026	$	13,506
2027		16,631
2028		20,207
2029		24,278
2030		28,906
Thereafter		8,970
Total payments	$	112,498

Schedule of interest expense

Interest expense in the consolidated statements of operations for the years ended December 31, 2025 and 2024 relates to the initial term loan (in thousands):

	Year Ended
	December 31,
	2025		2024
Accrued interest expense	$	11,644	$	12,490
Accretion of debt discount and debt issuance costs		1,387		1,350
Total interest expense	$	13,031	$	13,840