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Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2025

Commitments And Contingencies Disclosure [Abstract]

Schedule Of Royalty Liability Account Roll Forward

The following table shows the activity within the Royalty Liability account as well as the effective interest rate (dollars in thousands):


	Amount
Balance, December 31, 2024	$	149,645
Amortization of deferred transaction costs		57
Non-cash interest expense on liability for sale of future royalties		3,520
Royalty revenue earned by or payable to Sagard		(3,000	)
Balance, March 31, 2025	$	150,222

Effective interest rate		8.9	%

Schedule of Lease Term and Discount Rate

Financing liability information was as follows (dollars in thousands):


	March 31, 2025		December 31, 2024
Weighted average remaining lease term (in years)		16.6		16.8

Lease information was as follows (dollars in thousands):


	March 31, 2025			December 31, 2024
Operating lease right-of-use assets(1)	$	12,565		$	13,109

Operating lease liability-current(2)	$	2,373		$	2,423
Operating lease liability-long-term		11,141			11,645
Total	$	13,514		$	14,068

Weighted average remaining lease term (in years)		7.0			7.1
Weighted average discount rate		7.3	%		7.3	%

_________________________

(1)

Operating right-of-use assets related to vehicles, offices and the manufacturing facility for V-Go are included in other assets in the condensed consolidated balance sheets.

(2)

Operating lease liability – current is included in accrued expenses and other current liabilities in the condensed consolidated balance sheets.

Summary of Lease Information


	Three Months Ended March 31,
	2025		2024
Interest expense	$	2,359	$	2,395
Amortization of debt issuance costs		51		52
Interest expense on financing liability	$	2,410	$	2,447


	Three Months Ended March 31,
	2025		2024
Operating lease costs	$	728	$	348
Variable lease costs		244		10
Cash paid		972		232

Summary of Remaining Financing Liability Payments

The Company's remaining financing liability payments were as follows (in thousands):


	March 31, 2025
2025 (Remaining)	$	7,710
2026		10,533
2027		10,849
2028		11,174
2029		11,510
Thereafter		165,769
Total		217,545
Interest payments		(111,340	)
Debt issuance costs		(2,415	)
Total financing liability	$	103,790

Remaining Purchase Commitments and Estimated Capacity Fee Liability Requirements

The Company's remaining purchase commitments and estimated capacity fee liability as of March 31, 2025 were as follows (€ in millions):


	March 31, 2025
	Remaining Purchase Commitments		Estimated Capacity Fees
2025 (Remaining)(1)		—		1.1
2026		4.1		2.0
2027		6.0		1.0
2028		6.0		1.0
2029		5.8		1.0
2030		5.8		1.0
2031		7.8		0.5
2032		7.7		0.5
2033		7.7		0.5
2034		4.3		0.5
Total		55.2		9.1

_________________________

(1)

During the three months ended March 31, 2025, the Company incurred a capacity fee of €375,000, or $0.4 million, which was recognized as cost of goods sold for commercial sales in our condensed consolidated statement of operations.

Schedule of Future Minimum Office And Vehicle Lease Payments

The Company's future minimum office and vehicle lease payments were as follows (in thousands):


	March 31, 2025
2025 (Remaining)	$	2,361
2026		2,579
2027		2,540
2028		2,087
2029		1,485
Thereafter		6,236
Total		17,288
Interest expense		(3,774	)
Total operating lease liability	$	13,514