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v3.26.1

Borrowing (Tables) | 3 Months Ended
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Mar. 31, 2026
Subordinated Borrowings [Abstract] |
Schedule of Future Minimum Payments | The following table presents future minimum payments, including interest and the end of term charge, under the Loan Agreement as of March 31, 2026:
|  | March 31, 2026 |
|  | (In thousands) |
2026 (remaining 9 months) |  | $ | 3,819 |
2027 |  |  | 5,069 |
2028 |  |  | 5,083 |
2029 |  |  | 5,069 |
2030 |  |  | 54,042 |
Total |  |  | 73,082 |
Less: imputed interest |  |  | (22,832 | )
Less: unamortized debt discount and issuance costs |  |  | (2,923 | )
Total loan agreement |  | $ | 47,327 |
Schedule of Liability Related to Finance Agreement | The following table shows the activity within the liability related to the Financing Agreement for the three months ended March 31, 2026:
|  | Liabilities Related to Financing Agreement |
|  | (in thousands) |
Carrying value of liability related to Financing Agreement at December 31, 2025 |  | $ | 155,404 |
Payments on Financing Agreement |  |  | (864 | )
Non-cash interest expense |  |  | 5,079 |
Amortization of issuance costs |  |  | 211 |
Carrying value of liability related to Financing Agreement at March 31, 2026 |  | $ | 159,830 |

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