v3.25.4
DEBT (Tables)
12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Components of The Amended Term Loan
The following table summarizes the components of the amended term loan facility, on the Company’s consolidated balance sheets at December 31, 2025 and 2024:
December 31,
20252024
(in thousands)
Gross proceeds outstanding$50,000 $20,000 
Accrued end-of-term fees400 582 
Unamortized debt issuance costs(460)— 
Carrying value$49,940 $20,582 
The following table summarizes the activity of the liability related to the sale of future revenue for the year ended December 31, 2025 (in thousands):
Proceeds from the sale of future revenue$55,000 
Initial fair value of derivative liability(19,330)
Issuance costs(3,231)
Non-cash interest expense recognized1,805 
Liability related to the sale of future revenue $34,244 
Schedule of Future Principal Payments of Debt
Future principal payments, which exclude the end-of-term fee as of December 31, 2025 are as follows (in thousands):

Fiscal YearPrincipal Payments
2026— 
2027— 
2028— 
202911,102 
203038,898 
Total$50,000