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7. Long-term Debt
On March 1, 2021, the Company assumed the outstanding long-term debt obligations of an acquired business and issued a seller note to one of the selling shareholders. The assumed debt obligations and seller note are denominated in Euros. Long-term debt consisted of the following:
| | | As of December 31, 2025 | | | As of September 30, 2025 | | | Term loan payable, accruing interest at 3-Month EURIBOR plus 1.3% per annum, payable in quarterly installments starting in April 2023 and matures in July 2028. | | $ | 236 | | | $ | 256 | | | Seller’s note payable (“Seller’s note”), due to one of the selling shareholders, accruing interest at a fixed rate of 4.0% per annum. The Seller’s note is payable over 5 installments and matured in October 2025. | | | - | | | | 70 | | | Total debt | | | 236 | | | | 326 | | | Less: current portion | | | (86 | ) | | | (156 | ) | | Long-term debt, net of current portion | | $ | 150 | | | $ | 170 | |
At December 31, 2025, future maturities of long-term debt are as follows:
| Fiscal year: | | | | |
| 2026 (remaining) | | $ | 64 | |
| 2027 | | | 86 | |
| 2028 | | | 86 | |
| Total long-term debt | | $ | 236 | |
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