| Schedule of Debt Outstanding |
The following table reflects our outstanding debt, net of debt discounts and debt issuance costs, as of December 31, 2025 and September 30, 2025:
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|
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|
|
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|
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|
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As of |
|
($ in thousands) |
|
Maturity Date |
|
Rate |
|
December 31, 2025 |
|
|
September 30, 2025 |
|
2032 Convertible notes |
|
Feb-32 |
|
0.27% |
|
$ |
1,131,083 |
|
|
$ |
— |
|
2030 Convertible notes |
|
Jun-30 |
|
0.46% |
|
|
636,778 |
|
|
|
636,036 |
|
Deferred consideration |
|
Apr-26 |
|
8.25% |
|
|
8,997 |
|
|
|
— |
|
Western Alliance Bank credit agreement |
|
Aug-29 |
|
6.69% |
|
|
5,841 |
|
|
|
6,052 |
|
Auto & equipment loans and financing |
|
Jun-26 to Dec-29 |
|
0.0-11.3% |
|
|
4,062 |
|
|
|
1,879 |
|
Corporate facility mortgage |
|
Apr-30 |
|
6.54% |
|
|
1,925 |
|
|
|
1,943 |
|
Marquee Funding Partners debt |
|
Aug-26 to Mar-27 |
|
13.00% |
|
|
605 |
|
|
|
746 |
|
Coinbase line of credit |
|
Not specified |
|
8.25% |
|
|
— |
|
|
|
174,500 |
|
Total debt outstanding, net of debt discounts and debt issuance costs |
$ |
1,789,291 |
|
|
$ |
821,156 |
|
Less: current portion of debt |
|
|
|
|
|
|
(2,532 |
) |
|
|
(176,570 |
) |
Long-term debt, net of current portion, debt discount and debt issuance costs |
$ |
1,786,759 |
|
|
$ |
644,586 |
|
|
| Schedule of Principal Amount of Loan Maturities Due Over the Years |
The following table reflects the principal amount of loan maturities due over the next five years and thereafter as of December 31, 2025:
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|
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|
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|
|
|
|
|
|
|
($ in thousands) |
|
5-Year Loan Maturities Fiscal Year |
|
Outstanding Loan |
|
2026 (Remainder) |
|
|
2027 |
|
|
2028 |
|
|
2029 |
|
|
2030 |
|
|
2031 |
|
|
Thereafter |
|
|
Total |
|
2032 Convertible notes |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,150,000 |
|
|
$ |
1,150,000 |
|
2030 Convertible notes |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
650,000 |
|
|
|
— |
|
|
|
— |
|
|
|
650,000 |
|
Deferred consideration |
|
|
— |
|
|
|
10,000 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
10,000 |
|
Western Alliance Bank credit agreement |
|
|
653 |
|
|
|
930 |
|
|
|
996 |
|
|
|
3,327 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
5,906 |
|
Auto & equipment loans and financing |
|
|
784 |
|
|
|
1,011 |
|
|
|
1,037 |
|
|
|
1,037 |
|
|
|
153 |
|
|
|
31 |
|
|
|
8 |
|
|
|
4,061 |
|
Corporate facility mortgage |
|
|
62 |
|
|
|
87 |
|
|
|
93 |
|
|
|
100 |
|
|
|
1,605 |
|
|
|
— |
|
|
|
— |
|
|
|
1,947 |
|
Marquee Funding Partners debt |
|
|
451 |
|
|
|
154 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
605 |
|
Total principal payments by fiscal year |
|
$ |
1,950 |
|
|
$ |
12,182 |
|
|
$ |
2,126 |
|
|
$ |
4,464 |
|
|
$ |
651,758 |
|
|
$ |
31 |
|
|
$ |
1,150,008 |
|
|
$ |
1,822,519 |
|
Unamortized deferred financing costs and discounts |
|
|
|
|
|
|
(33,228 |
) |
Total debt book value as of December 31, 2025 |
|
|
|
|
|
$ |
1,789,291 |
|
|