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Debt (Tables)
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Schedule of long-term debt

The Company’s debt consisted of the following (in thousands):

 

 

September 30,
2025

 

 

December 31,
2024

 

Convertible Promissory Note

 

$

50,000

 

 

$

50,000

 

Less: short-term debt, net of unamortized debt discount and issuance costs(1)

 

 

(47,217

)

 

 

—

 

Less: unamortized debt discount and issuance costs

 

 

(2,783

)

 

 

(9,489

)

Long-term debt, net of unamortized debt discount and issuance costs

 

$

—

 

 

$

40,511

 

 

(1)
On January 9, 2025, the Convertible Promissory Note was reclassified from non-current liabilities to current liabilities as the maturity date falls within the twelve months of the reporting date. As of September 30, 2025, the outstanding balance of the Convertible Promissory Note is presented within current liabilities as “Short-term debt, net of unamortized debt discount and issuance costs.”
Schedule of Future Aggregate Principal Maturities of Long-Term Debt

Future aggregate principal maturities of debt are as follows as of September 30, 2025 (in thousands):

 

Remainder of 2025

 

$

—

 

2026

 

 

50,000

 

2027

 

 

—

 

2028

 

 

—

 

2029

 

 

—

 

Thereafter

 

 

—

 

 

 

$

50,000