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(“NURO”). The Company acquired NURO on May 1, 2025. The Company has paused operations in Germany, with sales into the country and the rest of Europe being managed by electroCore U.K. Ltd.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 3 <p id="xdx_80B_eus-gaap--SignificantAccountingPoliciesTextBlock_ziwrCa98Mmnj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 2. <span id="xdx_824_zzSYIiKFVuv8">Summary of Significant Accounting Policies</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_845_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zEYFg0ylDIld" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(a) <span id="xdx_866_zEGYPyH3sVXa">Basis of Presentation</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying condensed consolidated financial statements were prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and with instructions to Form 10-Q and Article 10 of Regulation S-X under the Securities Exchange Act of 1934, as amended. In the opinion of management, the Company has made all necessary adjustments, which include normal recurring adjustments necessary for a fair presentation of the Company’s condensed consolidated financial position and results of operations for the interim periods presented. Certain information and disclosures normally included in the annual consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes for the year ended December 31, 2025, included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 19, 2026. The results for the three and six months ended June 30, 2026, are not necessarily indicative of the results to be expected for a full year, any other interim periods or any future year or period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_848_eus-gaap--ConsolidationPolicyTextBlock_zE26RaPAtIxl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(b) <span id="xdx_86C_ziSdkHiNqpal">Principles of Consolidation</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying condensed consolidated financial statements include the accounts of electroCore and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84A_eus-gaap--UseOfEstimates_zZzrkAfdAiY6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(c) <span id="xdx_864_zjrcDM9ADkJf">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include revenue, licensed products and loss contingencies.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_z3ELkSoTKm51" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(d) <span id="xdx_86F_zFPdsFllyHSi">Cash and Cash Equivalents</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash and cash equivalents of $<span id="xdx_905_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn5n6_c20260630_zYuHgDXpBR9c">8.5</span> million include all highly liquid investments with an original maturity of six months or less when purchased.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2026, cash equivalents represented funds held in an interest-bearing demand deposit account, U.S. treasury bills, and a money market account.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_846_eus-gaap--MarketableSecuritiesPolicy_zVTUbxoaTZhj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(e) <span id="xdx_862_z0n1NgNnvVH9">Marketable Securities</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marketable securities are carried at fair value, with unrealized gains and losses reported as accumulated other comprehensive income, except for losses from impairments which are determined to be other than temporary. Realized gains and losses and declines in value judged to be other-than-temporary are included in the determination of net loss and are included in interest and other income net. Fair values are based on quoted market prices at the reporting date. Interest and dividends on available-for-sale securities are included in Interest and other income. As of June 30, 2026, marketable securities amounted to $<span id="xdx_901_eus-gaap--MarketableSecuritiesCurrent_iI_pn5n6_c20260630_zXRjtWGqEald" title="Marketable securities">1.5</span> million and consisted of U.S. treasury bills. Unrealized gains or losses during 2026 and 2025 were not material.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>ELECTROCORE, INC. AND SUBSIDIARIES</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Notes to Condensed Consolidated Financial Statements (unaudited)</b></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p id="xdx_84B_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zTDiLfIWEuwg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(f) <span id="xdx_866_zbFoXvgxGijd">Recent Accounting Pronouncements</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2024, the FASB issued Accounting Standards Update (ASU) No. 2024-03, <i>Income Statement (Topic 220): Reporting Comprehensive Income - Expense Disaggregation Disclosures, Disaggregation of Income Statement Expenses</i>, which requires public companies to disclose, in interim and annual reporting periods, additional information about certain expenses in the financial statements. The amendments in this pronouncement will be effective for annual periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted and is effective on either a prospective basis or retrospective basis. The Company is currently assessing the potential impacts of adoption on its consolidated financial statements and related disclosures.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In July 2025, the FASB issued ASU 2025-05, <i>Financial Instruments — Credit Losses</i>, which provides a practical expedient for estimating expected credit losses for current accounts receivable and current contract assets that arise from transactions accounted for under Topic 606, Revenue from Contracts with Customers. ASU 2025-05 is effective for annual periods beginning after December 15, 2025 and interim periods within those annual reporting periods and should be applied prospectively, with early adoption permitted. The Company adopted this standard effective January 1, 2026 and have elected the practical expedient. This adoption did not materially affect the Company’s condensed consolidated financial statements and disclosures.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2025, the FASB issued ASU 2025-12, <i>Codification Improvements</i>, which clarifies various topics in the Accounting Standards Codification to improve consistency and address technical corrections. Key improvements include clarifying the calculation of diluted earnings per share (EPS) when a loss from continuing operations exists. The amendments in this update are effective for the Company beginning January 1, 2027, with early adoption permitted. The Company is assessing the impact of adopting this standard.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2025, the FASB issued ASU 2025-11, <i>Interim Reporting (Topic 270): Narrow Scope Improvements</i>. This update clarifies the applicability of interim reporting guidance and the form and content of interim financial statements. It also establishes a disclosure principle requiring an entity to disclose material events and changes occurring since the end of the last annual reporting period. ASU 2025-11 is effective for the Company for interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. The Company is assessing the impact of adopting this standard.</span></p> <p id="xdx_858_zPAceAobgsZb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_845_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zEYFg0ylDIld" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(a) <span id="xdx_866_zEGYPyH3sVXa">Basis of Presentation</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying condensed consolidated financial statements were prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and with instructions to Form 10-Q and Article 10 of Regulation S-X under the Securities Exchange Act of 1934, as amended. In the opinion of management, the Company has made all necessary adjustments, which include normal recurring adjustments necessary for a fair presentation of the Company’s condensed consolidated financial position and results of operations for the interim periods presented. Certain information and disclosures normally included in the annual consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes for the year ended December 31, 2025, included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 19, 2026. The results for the three and six months ended June 30, 2026, are not necessarily indicative of the results to be expected for a full year, any other interim periods or any future year or period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_848_eus-gaap--ConsolidationPolicyTextBlock_zE26RaPAtIxl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(b) <span id="xdx_86C_ziSdkHiNqpal">Principles of Consolidation</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying condensed consolidated financial statements include the accounts of electroCore and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84A_eus-gaap--UseOfEstimates_zZzrkAfdAiY6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(c) <span id="xdx_864_zjrcDM9ADkJf">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include revenue, licensed products and loss contingencies.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_z3ELkSoTKm51" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(d) <span id="xdx_86F_zFPdsFllyHSi">Cash and Cash Equivalents</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash and cash equivalents of $<span id="xdx_905_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn5n6_c20260630_zYuHgDXpBR9c">8.5</span> million include all highly liquid investments with an original maturity of six months or less when purchased.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2026, cash equivalents represented funds held in an interest-bearing demand deposit account, U.S. treasury bills, and a money market account.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 8500000 <p id="xdx_846_eus-gaap--MarketableSecuritiesPolicy_zVTUbxoaTZhj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(e) <span id="xdx_862_z0n1NgNnvVH9">Marketable Securities</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marketable securities are carried at fair value, with unrealized gains and losses reported as accumulated other comprehensive income, except for losses from impairments which are determined to be other than temporary. Realized gains and losses and declines in value judged to be other-than-temporary are included in the determination of net loss and are included in interest and other income net. Fair values are based on quoted market prices at the reporting date. Interest and dividends on available-for-sale securities are included in Interest and other income. As of June 30, 2026, marketable securities amounted to $<span id="xdx_901_eus-gaap--MarketableSecuritiesCurrent_iI_pn5n6_c20260630_zXRjtWGqEald" title="Marketable securities">1.5</span> million and consisted of U.S. treasury bills. Unrealized gains or losses during 2026 and 2025 were not material.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>ELECTROCORE, INC. AND SUBSIDIARIES</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Notes to Condensed Consolidated Financial Statements (unaudited)</b></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> 1500000 <p id="xdx_84B_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zTDiLfIWEuwg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(f) <span id="xdx_866_zbFoXvgxGijd">Recent Accounting Pronouncements</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2024, the FASB issued Accounting Standards Update (ASU) No. 2024-03, <i>Income Statement (Topic 220): Reporting Comprehensive Income - Expense Disaggregation Disclosures, Disaggregation of Income Statement Expenses</i>, which requires public companies to disclose, in interim and annual reporting periods, additional information about certain expenses in the financial statements. The amendments in this pronouncement will be effective for annual periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted and is effective on either a prospective basis or retrospective basis. The Company is currently assessing the potential impacts of adoption on its consolidated financial statements and related disclosures.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In July 2025, the FASB issued ASU 2025-05, <i>Financial Instruments — Credit Losses</i>, which provides a practical expedient for estimating expected credit losses for current accounts receivable and current contract assets that arise from transactions accounted for under Topic 606, Revenue from Contracts with Customers. ASU 2025-05 is effective for annual periods beginning after December 15, 2025 and interim periods within those annual reporting periods and should be applied prospectively, with early adoption permitted. The Company adopted this standard effective January 1, 2026 and have elected the practical expedient. This adoption did not materially affect the Company’s condensed consolidated financial statements and disclosures.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2025, the FASB issued ASU 2025-12, <i>Codification Improvements</i>, which clarifies various topics in the Accounting Standards Codification to improve consistency and address technical corrections. Key improvements include clarifying the calculation of diluted earnings per share (EPS) when a loss from continuing operations exists. The amendments in this update are effective for the Company beginning January 1, 2027, with early adoption permitted. The Company is assessing the impact of adopting this standard.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2025, the FASB issued ASU 2025-11, <i>Interim Reporting (Topic 270): Narrow Scope Improvements</i>. This update clarifies the applicability of interim reporting guidance and the form and content of interim financial statements. It also establishes a disclosure principle requiring an entity to disclose material events and changes occurring since the end of the last annual reporting period. ASU 2025-11 is effective for the Company for interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. The Company is assessing the impact of adopting this standard.</span></p> <p id="xdx_80B_ecustom--LiquidityCreditRisksAndGoingConcernDisclosureTextBlock_zHnOM8yjgqDl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 3. <span id="xdx_824_zEHP7yr88srh">Liquidity, Credit Risks and Going Concern</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has experienced significant net losses, and it expects to continue to incur net losses for the near future as it works to increase market acceptance of its prescription (Rx) devices and general wellness and human performance products. The Company has never been profitable and has incurred net losses and negative cash used in operations each year since its inception. The Company incurred net losses of $<span id="xdx_90C_eus-gaap--NetIncomeLoss_iN_pn5n6_di_c20260101__20260630_zcugIjI0kpH2" title="Net losses">8.3</span> million and $<span id="xdx_904_eus-gaap--NetIncomeLoss_iN_pn5n6_di_c20250101__20250630_zmK2OXwVbWH" title="Net losses">7.5</span> million and used cash in its operations of $<span id="xdx_90A_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_pn5n6_di_c20260101__20260630_zAADu8ucvGc7" title="Net cash used in operating activities">6.5</span> million and $<span id="xdx_908_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_pn5n6_di_c20250101__20250630_zNXaiu92csy3" title="Net cash used in operating activities">5.0</span> million for the six months ended June 30, 2026 and 2025, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has historically funded its operations with the proceeds of equity and debt financings. During the three and six months ended June 30, 2026, the Company received net proceeds of approximately $<span id="xdx_900_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pn5n6_c20260401__20260630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zpYlO7mxloVj" title="Aggregate proceeds">4.8</span> million and $<span id="xdx_906_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pn5n6_c20260101__20260630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zIEzqiUFNYNd" title="Aggregate proceeds">5.0</span> million, respectively, from the exercise of warrants and options, and usage of our Sales Agreement (as defined below). As of June 30, 2026, the Company’s cash, cash equivalents and marketable securities totalled $<span id="xdx_90F_eus-gaap--CashCashEquivalentsAndShortTermInvestments_iI_pn5n6_c20260630_zMYAlmxq5VPl" title="Cash, cash equivalents and marketable securities">10.0</span> million (“Cash Position”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 24, 2025, our Form S-3 registration statement (File No. 333-284477), or the 2025 Shelf Registration Statement, was declared effective by the SEC. The 2025 Shelf Registration Statement relates to the potential offering and issuance from time to time of common stock, preferred stock, warrants, rights, debt securities and units, up to an aggregate amount of $<span id="xdx_906_ecustom--PotentialCashInflowsFromIssuanceOfStock_pn5n6_c20250724__20250724_zs4qSPoMjlVi" title="Potential cash inflows from issuance of stock">100.0</span> million. The proposed maximum offering price per unit and the proposed maximum aggregate offering price per class of security in any future offering under the 2025 Shelf Registration Statement will be determined from time to time by us in connection with the issuance by us of the securities registered under the 2025 Shelf Registration Statement. As of July 31, 2026, we have $<span id="xdx_90D_ecustom--PotentialCashInflowsFromIssuanceOfStock_pn5n6_c20260731__20260731__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zzNYcWEjfcii" title="Potential cash inflows from issuance of stock">95.9</span> million remaining for potential issuance under the 2025 Shelf Registration Statement (including $<span id="xdx_909_ecustom--RemainingValueAvailableForSharesIssuance_iI_pn5n6_c20260731__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zLxCF2vueigk" title="Remaining value available for shares issuance">15.7</span> million under the Sales Agreement (as defined below)). If we raise additional funds by issuing equity or debt securities, either through the sale of securities pursuant to a registration statement or by other means, our existing stockholders may experience dilution, and the new equity or debt securities may have rights, preferences and privileges senior to those of our existing stockholders.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>ELECTROCORE, INC. AND SUBSIDIARIES</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Notes to Condensed Consolidated Financial Statements (unaudited)</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 29, 2024, we entered into an At The Market Offering Agreement (the “Sales Agreement”) with H.C. Wainwright &amp; Co., LLC (“Wainwright”), whereby the Company may offer and sell shares of its common stock from time to time having an aggregate offering price of up to $<span id="xdx_90F_eus-gaap--ProceedsFromIssuanceOfCommonStock_pn6n6_c20241129__20241129__us-gaap--TypeOfArrangementAxis__custom--SalesAgreementMember_zxy0Ey1YWnna" title="Shares issued, offering price">20.0</span> million by any method deemed to be an “at-the-market” offering (“ATM”) as defined in Rule 415 of the Securities Act, or any other method specified in the Sales Agreement. For the three and six months ended June 30, 2026, the Company sold <span id="xdx_909_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20260101__20260630__us-gaap--TypeOfArrangementAxis__custom--SalesAgreementMember_zCVRR1Vic2u3" title="Sale of shares">494,601</span> shares of its common stock at a weighted average price of $<span id="xdx_90C_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20260630__us-gaap--TypeOfArrangementAxis__custom--SalesAgreementMember_zPBNeCVCN1dc" title="Share price">8.17</span> per share, net of issuance costs for approximately $<span id="xdx_904_ecustom--ProceedsFromIssuanceOfEquity_pn5n6_c20260101__20260630__us-gaap--TypeOfArrangementAxis__custom--SalesAgreementMember_zfAhHkCuPZej" title="Net proceeds from issuance">3.9</span> million in net proceeds, pursuant to the Sales Agreement. No sales were made pursuant to the Sales Agreement during the three months ended March 31, 2026. Subsequent to June 30, 2026, the Company sold <span id="xdx_90D_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20260701__20260805__us-gaap--TypeOfArrangementAxis__custom--SalesAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zK5RDkAaH5Bl" title="Sale of shares">10,745</span> shares of its common stock at a weighted average price of $<span id="xdx_906_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20260805__us-gaap--TypeOfArrangementAxis__custom--SalesAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z0tZa1Gvocae" title="Share price">8.35</span> per share, net of issuance costs, for approximately $<span id="xdx_90C_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_c20260701__20260805__us-gaap--TypeOfArrangementAxis__custom--SalesAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zMPo8grTuTdh" title="Issuance of costs">86,200</span> in net proceeds, pursuant to the Sales Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On August 4, 2025 (the “LSA Closing Date”), we, and our wholly owned subsidiary, NURO, each as borrowers, entered into a Loan and Security Agreement (the “Loan and Security Agreement”), with Avenue Opportunities Fund II, L.P. (“Avenue”). The Loan and Security Agreement provided for term loans in an aggregate principal amount of up to $<span id="xdx_905_ecustom--DebtInstrumentOriginalAmountOfCapacityUnderDebtAgreement_iI_pn5n6_c20250804__us-gaap--TypeOfArrangementAxis__custom--LoanAndSecurityAgreementMember_zG14SXJEpaN9" title="Debt instrument orginal amount of capacity under debt agreement">12.0</span> million, of which $<span id="xdx_900_eus-gaap--DebtInstrumentIssuedPrincipal_pn5n6_c20250804__20250804__us-gaap--TypeOfArrangementAxis__custom--LoanAndSecurityAgreementMember__us-gaap--DebtInstrumentAxis__custom--TrancheOneMember_z4QldQPzlkrl" title="Debt principal amount, issued">7.5</span> million was advanced on the LSA Closing Date and the remaining availability expired on December 31, 2025. See “Note 9 – Long-Term Debt” for further information regarding the Loan and Security Agreement, and related transactions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the remainder of 2026, we intend to continue to make targeted investments in sales, marketing, and research and development to continue driving commercial activities. We have historically funded our operations from the sale of our common stock and debt financing and may continue to do so through utilization of the at-the-market facility pursuant to the Sales Agreement, or other equity or debt transactions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notwithstanding the expected cash flow from operations and expected access to capital from existing and/or future debt and equity sources, the Company’s currently forecasted cash is less than the requirements to fund its operating expenses and capital expenditure requirements, as currently planned, for at least the next 12 months from the date the accompanying condensed consolidated financial statements are issued. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. There remain significant risks and uncertainties regarding the Company’s business, financial condition and results of operations. Due to these risks and uncertainties, there can be no assurance that we will have sufficient cash flow and liquidity to fund our planned activities, which could force us to significantly reduce or curtail our activities and, ultimately, potentially cease operations. The accompanying condensed consolidated financial statements do not include any adjustment that might result from the outcome of this uncertainty.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Concentration of Revenue Risks</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company earns a significant amount of its revenue in the United States from the United States Department of Veterans Affairs, or VA, channel pursuant to its qualifying contract under the Federal Supply Schedule, or FSS, and open market sales to individual VA facilities. For the three months ended June 30, 2026 and 2025, sales to the VA accounted for <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20260401__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DepartmentOfVeteransAffairsAndDepartmentOfDefenseMember_zQ1ShWC2ufci" title="Concentration risk percentage">75.8</span>% and <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20250401__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DepartmentOfVeteransAffairsAndDepartmentOfDefenseMember_zPTZHPA9ESFi" title="Concentration risk percentage">71.8</span>%, respectively. For the six months ended June 30, 2026 and 2025, the VA accounted for <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20260101__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DepartmentOfVeteransAffairsAndDepartmentOfDefenseMember_zHW3l5JHlcrj" title="Concentration risk percentage">75.3</span>% and <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20250101__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DepartmentOfVeteransAffairsAndDepartmentOfDefenseMember_zUeitoqBtxbk" title="Concentration risk percentage">71.1</span>% of net sales, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the three and six months ended June 30, 2026 and 2025, sales through our non-exclusive distribution agreement with Lovell Government Services, or Lovell, accounted for more than 10% of our VA net sales. As of June 30, 2026 and December 31, 2025, Lovell and one of our customers in the United Kingdom accounted for more than 10% of our accounts receivable, respectively. During the three and six months ended June 30, 2026 and 2025, sales associated with no single facility accounted for more than 10% of the total VA net sales. Lovell is a Service-Disabled Veteran-Owned Small Business (SDVOSB) offering medical and pharmaceutical goods and services to federal healthcare providers. During the three and six months ended June 30, 2026 and 2025, one facility accounted for more than 10% of net sales from the United Kingdom National Health Service (“NHS”). During the remainder of 2026, we intend to generate the majority of sales in the VA channel through our agreement with Lovell.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Foreign Currency Exchange</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has foreign currency exchange risks related to revenue and operating expenses in currencies other than the local currencies in which it operates. The Company is exposed to currency risk from the potential changes in the functional currency values of its assets, liabilities, and cash flows denominated in foreign currencies.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>ELECTROCORE, INC. AND SUBSIDIARIES</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Notes to Condensed Consolidated Financial Statements (unaudited)</b></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> -8300000 -7500000 -6500000 -5000000.0 4800000 5000000.0 10000000.0 100000000.0 95900000 15700000 20000000.0 494601 8.17 3900000 10745 8.35 86200 12000000.0 7500000 0.758 0.718 0.753 0.711 <p id="xdx_80B_eus-gaap--RevenueFromContractWithCustomerTextBlock_zkjE6mo0Kcke" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 4. <span id="xdx_825_zuWYBE1SQwMg">Revenue</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_893_eus-gaap--DisaggregationOfRevenueTableTextBlock_zT3715dfwC1d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b>The following tables present product net sales disaggregated by Channel and Geographic Market (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B1_zbgk93vDSUHg" style="display: none">Schedule of Net Sales Disaggregated By Channel</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; display: none; text-align: left; font-weight: bold"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Channel:</span></td><td style="display: none; font-weight: bold; padding-bottom: 1pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_497_20260401__20260630_zGkfwbKKtfh8" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">2026</span></td><td style="display: none; padding-bottom: 1pt; font-weight: bold"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="display: none; font-weight: bold; padding-bottom: 1pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_49C_20250401__20250630_zoNSglLzoGBg" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">2025</span></td><td style="display: none; padding-bottom: 1pt; font-weight: bold"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Channel:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--ContractWithCustomerSalesChannelAxis__custom--UnitedStatesRxMember_z5LB6LhY27Ck" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">United States – Rx</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">7,447</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">5,693</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--ContractWithCustomerSalesChannelAxis__custom--GeneralWellnessMember_zRTI9bsCLzs9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General Wellness</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,306</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,014</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--ContractWithCustomerSalesChannelAxis__custom--OutsideTheUnitedStatesMember_zNANExk1BdOh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Outside the United States</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">503</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">469</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--ContractWithCustomerSalesChannelAxis__custom--TACSTIMMember_zOaQZPaAFcxh" style="vertical-align: bottom; background-color: White"> <td>TAC-STIM</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">185</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">181</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--ContractWithCustomerSalesChannelAxis__custom--InLicenseOrOtherMember_zV07P057Yo7a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">In-License / Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">24</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zE3Snt3eSU8j" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total Net Sales</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">9,450</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,381</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; display: none; text-align: left; font-weight: bold"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Channel:</span></td><td style="display: none; font-weight: bold; padding-bottom: 1pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_49D_20260101__20260630_zHoDXY5QsXx8" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">2026</span></td><td style="display: none; padding-bottom: 1pt; font-weight: bold"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="display: none; font-weight: bold; padding-bottom: 1pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_49E_20250101__20250630_zdrjbqxJLeo2" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">2025</span></td><td style="display: none; padding-bottom: 1pt; font-weight: bold"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Channel:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--ContractWithCustomerSalesChannelAxis__custom--UnitedStatesRxMember_zz6wDdTG9iCd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">United States – Rx</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">14,868</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">10,703</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--ContractWithCustomerSalesChannelAxis__custom--GeneralWellnessMember_zytSGgNKYLm" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General Wellness</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,894</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,114</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--ContractWithCustomerSalesChannelAxis__custom--OutsideTheUnitedStatesMember_zKcidNClXAK9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Outside the United States</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,005</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">967</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--ContractWithCustomerSalesChannelAxis__custom--TACSTIMMember_zCXtFQBhyYdi" style="vertical-align: bottom; background-color: White"> <td>TAC-STIM</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">227</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">271</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--ContractWithCustomerSalesChannelAxis__custom--InLicenseOrOtherMember_z2bn9A7Lco9f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">In-License / Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">40</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">45</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_z3oqoYFqxLuf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total Net Sales</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">19,034</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">14,100</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A3_zWr3ilWbfQW6" style="margin: 0"> </p> <p id="xdx_89F_eus-gaap--ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock_z3qHJ0mKOvh8" style="margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B9_zZyDEIPMhKca" style="display: none">Schedule of Net Sales Disaggregated By Geographic Market</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; display: none; text-align: left; font-weight: bold"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Geographic:</span></td><td style="display: none; font-weight: bold; padding-bottom: 1pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_496_20260401__20260630_zge71MfCCSb5" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">2026</span></td><td style="display: none; padding-bottom: 1pt; font-weight: bold"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="display: none; font-weight: bold; padding-bottom: 1pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_497_20250401__20250630_zLrkjKs1Mb12" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">2025</span></td><td style="display: none; padding-bottom: 1pt; font-weight: bold"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Geographic:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Product revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__us-gaap--ProductMember__srt--StatementGeographicalAxis__country--US_zD26H204wap" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">United States</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">8,947</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,895</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__us-gaap--ProductMember__srt--StatementGeographicalAxis__country--GB_zpRNkfy4HPY4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">United Kingdom</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">463</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">433</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__us-gaap--ProductMember__srt--StatementGeographicalAxis__custom--OtherCountriesMember_zbxZyoSfw3m" style="vertical-align: bottom; background-color: White"> <td>Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">40</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">License revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__us-gaap--LicenseMember__srt--StatementGeographicalAxis__country--JP_zlVpjEsX7Qid" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Japan</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0758">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">17</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zepHs3JXWBt7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total Net Sales</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">9,450</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,381</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; display: none; text-align: left; font-weight: bold"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Geographic:</span></td><td style="display: none; font-weight: bold; padding-bottom: 1pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_493_20260101__20260630_zM9W2YFVWeM6" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">2026</span></td><td style="display: none; padding-bottom: 1pt; font-weight: bold"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="display: none; font-weight: bold; padding-bottom: 1pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_49D_20250101__20250630_zxGeC0F572A1" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">2025</span></td><td style="display: none; padding-bottom: 1pt; font-weight: bold"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Geographic:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Product revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__us-gaap--ProductMember__srt--StatementGeographicalAxis__country--US_zIxXI2gpMcXh" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">United States</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">18,012</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">13,101</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__us-gaap--ProductMember__srt--StatementGeographicalAxis__country--GB_zEdg9wfZS8W5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">United Kingdom</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">929</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">884</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__us-gaap--ProductMember__srt--StatementGeographicalAxis__custom--OtherCountriesMember_zyDfYtLhaQM3" style="vertical-align: bottom; background-color: White"> <td>Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">76</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">83</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">License revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__us-gaap--LicenseMember__srt--StatementGeographicalAxis__country--JP_zBw7tCzVXv7g" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Japan</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">17</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">32</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_z7Do7Mg48SBc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total Net Sales</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">19,034</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">14,100</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A9_zNYPAjC3vhE2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company generally invoices the customer and recognizes revenue once its performance obligations are satisfied, at which point payment is unconditional. Agreed upon payment terms with customers are within 30 days of shipment. Accordingly, contracts with customers do not include a significant financing component.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>ELECTROCORE, INC. AND SUBSIDIARIES</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Notes to Condensed Consolidated Financial Statements (unaudited)</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> </p> <p id="xdx_893_eus-gaap--DisaggregationOfRevenueTableTextBlock_zT3715dfwC1d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b>The following tables present product net sales disaggregated by Channel and Geographic Market (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B1_zbgk93vDSUHg" style="display: none">Schedule of Net Sales Disaggregated By Channel</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; display: none; text-align: left; font-weight: bold"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Channel:</span></td><td style="display: none; font-weight: bold; padding-bottom: 1pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_497_20260401__20260630_zGkfwbKKtfh8" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">2026</span></td><td style="display: none; padding-bottom: 1pt; font-weight: bold"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="display: none; font-weight: bold; padding-bottom: 1pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_49C_20250401__20250630_zoNSglLzoGBg" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">2025</span></td><td style="display: none; padding-bottom: 1pt; font-weight: bold"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Channel:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--ContractWithCustomerSalesChannelAxis__custom--UnitedStatesRxMember_z5LB6LhY27Ck" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">United States – Rx</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">7,447</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">5,693</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--ContractWithCustomerSalesChannelAxis__custom--GeneralWellnessMember_zRTI9bsCLzs9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General Wellness</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,306</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,014</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--ContractWithCustomerSalesChannelAxis__custom--OutsideTheUnitedStatesMember_zNANExk1BdOh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Outside the United States</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">503</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">469</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--ContractWithCustomerSalesChannelAxis__custom--TACSTIMMember_zOaQZPaAFcxh" style="vertical-align: bottom; background-color: White"> <td>TAC-STIM</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">185</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">181</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--ContractWithCustomerSalesChannelAxis__custom--InLicenseOrOtherMember_zV07P057Yo7a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">In-License / Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">24</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zE3Snt3eSU8j" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total Net Sales</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">9,450</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,381</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; display: none; text-align: left; font-weight: bold"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Channel:</span></td><td style="display: none; font-weight: bold; padding-bottom: 1pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_49D_20260101__20260630_zHoDXY5QsXx8" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">2026</span></td><td style="display: none; padding-bottom: 1pt; font-weight: bold"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="display: none; font-weight: bold; padding-bottom: 1pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_49E_20250101__20250630_zdrjbqxJLeo2" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">2025</span></td><td style="display: none; padding-bottom: 1pt; font-weight: bold"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Channel:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--ContractWithCustomerSalesChannelAxis__custom--UnitedStatesRxMember_zz6wDdTG9iCd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">United States – Rx</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">14,868</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">10,703</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--ContractWithCustomerSalesChannelAxis__custom--GeneralWellnessMember_zytSGgNKYLm" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">General Wellness</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,894</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,114</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--ContractWithCustomerSalesChannelAxis__custom--OutsideTheUnitedStatesMember_zKcidNClXAK9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Outside the United States</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,005</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">967</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--ContractWithCustomerSalesChannelAxis__custom--TACSTIMMember_zCXtFQBhyYdi" style="vertical-align: bottom; background-color: White"> <td>TAC-STIM</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">227</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">271</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--ContractWithCustomerSalesChannelAxis__custom--InLicenseOrOtherMember_z2bn9A7Lco9f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">In-License / Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">40</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">45</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_z3oqoYFqxLuf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total Net Sales</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">19,034</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">14,100</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 7447000 5693000 1306000 1014000 503000 469000 185000 181000 9000 24000 9450000 7381000 14868000 10703000 2894000 2114000 1005000 967000 227000 271000 40000 45000 19034000 14100000 <p id="xdx_89F_eus-gaap--ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock_z3qHJ0mKOvh8" style="margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B9_zZyDEIPMhKca" style="display: none">Schedule of Net Sales Disaggregated By Geographic Market</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; display: none; text-align: left; font-weight: bold"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Geographic:</span></td><td style="display: none; font-weight: bold; padding-bottom: 1pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_496_20260401__20260630_zge71MfCCSb5" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">2026</span></td><td style="display: none; padding-bottom: 1pt; font-weight: bold"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="display: none; font-weight: bold; padding-bottom: 1pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_497_20250401__20250630_zLrkjKs1Mb12" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">2025</span></td><td style="display: none; padding-bottom: 1pt; font-weight: bold"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Geographic:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Product revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__us-gaap--ProductMember__srt--StatementGeographicalAxis__country--US_zD26H204wap" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">United States</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">8,947</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,895</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__us-gaap--ProductMember__srt--StatementGeographicalAxis__country--GB_zpRNkfy4HPY4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">United Kingdom</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">463</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">433</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__us-gaap--ProductMember__srt--StatementGeographicalAxis__custom--OtherCountriesMember_zbxZyoSfw3m" style="vertical-align: bottom; background-color: White"> <td>Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">40</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">License revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__us-gaap--LicenseMember__srt--StatementGeographicalAxis__country--JP_zlVpjEsX7Qid" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Japan</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0758">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">17</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zepHs3JXWBt7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total Net Sales</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">9,450</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,381</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; display: none; text-align: left; font-weight: bold"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Geographic:</span></td><td style="display: none; font-weight: bold; padding-bottom: 1pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_493_20260101__20260630_zM9W2YFVWeM6" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">2026</span></td><td style="display: none; padding-bottom: 1pt; font-weight: bold"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="display: none; font-weight: bold; padding-bottom: 1pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_49D_20250101__20250630_zxGeC0F572A1" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">2025</span></td><td style="display: none; padding-bottom: 1pt; font-weight: bold"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Geographic:</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Product revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__us-gaap--ProductMember__srt--StatementGeographicalAxis__country--US_zIxXI2gpMcXh" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">United States</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">18,012</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">13,101</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__us-gaap--ProductMember__srt--StatementGeographicalAxis__country--GB_zEdg9wfZS8W5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">United Kingdom</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">929</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">884</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__us-gaap--ProductMember__srt--StatementGeographicalAxis__custom--OtherCountriesMember_zyDfYtLhaQM3" style="vertical-align: bottom; background-color: White"> <td>Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">76</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">83</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">License revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__us-gaap--LicenseMember__srt--StatementGeographicalAxis__country--JP_zBw7tCzVXv7g" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Japan</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">17</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">32</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_z7Do7Mg48SBc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total Net Sales</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">19,034</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">14,100</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 8947000 6895000 463000 433000 40000 36000 17000 9450000 7381000 18012000 13101000 929000 884000 76000 83000 17000 32000 19034000 14100000 <p id="xdx_80D_eus-gaap--FairValueMeasurementInputsDisclosureTextBlock_zHLYxm9Ju788" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 5. <span id="xdx_82A_zINzFsc9AAS3">Fair Value Measurements</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial assets and liabilities carried at fair value are classified and disclosed in one of the following three levels of the fair value hierarchy:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1—Quoted prices in active markets for identical assets or liabilities. </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2—Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques.</span></p></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2026 and December 31, 2025, the Company’s marketable securities in the amount of $<span id="xdx_90A_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn5n6_c20260630_zaO9tAmqZwJe" title="Fair value of marketable securities">1.5</span> million and $<span id="xdx_90C_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn5n6_c20251231_zpgy6zCbccW6" title="Fair value of marketable securities">4.6</span> million, respectively, were carried at fair value in accordance with Level 1 as described above. The Company recognizes transfers between levels of the fair value hierarchy as of the end of the reporting period. There were no transfers within the hierarchy during the three and six months ended June 30, 2026 and the year ended December 31, 2025. The carrying amount of the Company’s receivables and payables approximate their fair value due to their maturity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> 1500000 4600000 <p id="xdx_80B_eus-gaap--InventoryDisclosureTextBlock_zFY1n9A6gYxb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 6. <span id="xdx_826_z7pQ75icqGm8">Inventory</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_eus-gaap--ScheduleOfInventoryCurrentTableTextBlock_zIK2y9hPeb7k" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2026 and December 31, 2025, inventories consisted of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B0_zOaBCycRf8Mb" style="display: none">Schedule of Inventories</span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20260630_zhSa7a0LnWGl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20251231_zboToCrpvLe8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--InventoryRawMaterials_iI_pn3n3_maINz4ky_zqjIP8ipT8el" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Raw materials</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,131</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,278</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--InventoryWorkInProcess_iI_pn3n3_maINz4ky_zWmUTXJoiGqg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Work in process</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">132</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">62</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--InventoryFinishedGoods_iI_pn3n3_maINz4ky_zobsWZNM87bi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Finished goods</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,155</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">291</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--InventoryNet_iTI_pn3n3_mtINz4ky_zWY8Ygo3m2n5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total inventory</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,418</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,631</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AA_zIZWQHCRlSp3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The reserve for obsolete inventory was $<span id="xdx_906_eus-gaap--InventoryValuationReserves_iI_pn5n6_c20260630_zMKHzFIXBvo4" title="Obsolete inventory reserve">0.3</span> million and $<span id="xdx_902_eus-gaap--InventoryValuationReserves_iI_pn5n6_c20251231_zid3pKyLjBCh" title="Obsolete inventory reserve">0.3</span> million as of June 30, 2026 and December 31, 2025, respectively. The Company records charges for obsolete inventory in cost of goods sold. Inventory classified under the category “Work in process” consists of prefabricated assembled product.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_eus-gaap--ScheduleOfInventoryCurrentTableTextBlock_zIK2y9hPeb7k" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2026 and December 31, 2025, inventories consisted of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B0_zOaBCycRf8Mb" style="display: none">Schedule of Inventories</span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20260630_zhSa7a0LnWGl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20251231_zboToCrpvLe8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--InventoryRawMaterials_iI_pn3n3_maINz4ky_zqjIP8ipT8el" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Raw materials</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,131</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,278</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--InventoryWorkInProcess_iI_pn3n3_maINz4ky_zWmUTXJoiGqg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Work in process</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">132</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">62</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--InventoryFinishedGoods_iI_pn3n3_maINz4ky_zobsWZNM87bi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Finished goods</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,155</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">291</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--InventoryNet_iTI_pn3n3_mtINz4ky_zWY8Ygo3m2n5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total inventory</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,418</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,631</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 1131000 1278000 132000 62000 1155000 291000 2418000 1631000 300000 300000 <p id="xdx_800_eus-gaap--LesseeOperatingLeasesTextBlock_zFVMeqzv29W7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 7. <span id="xdx_82D_zNgkkHzM6gKi">Leases</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company leases its headquarters location in Rockaway, New Jersey. For the three and six months ended June 30, 2026, the Company recognized lease expenses of $<span id="xdx_905_eus-gaap--OperatingLeaseExpense_pn3d_c20260401__20260630_z5gYVzzmHSkk" title="Lease expenses">120,000</span> and $<span id="xdx_902_eus-gaap--OperatingLeaseExpense_pn3d_c20260101__20260630_zkS2bHx2kLR6" title="Lease expenses">240,000</span>, respectively. For the three and six months ended June 30, 2025, the Company recognized lease expense of $<span id="xdx_908_eus-gaap--OperatingLeaseExpense_pn3d_c20250401__20250630_zPUvEqaAhof5" title="Lease expenses">178,000</span> and $<span id="xdx_90A_eus-gaap--OperatingLeaseExpense_pn3d_c20250101__20250630_zEdz9Pl482Zg" title="Lease expenses">356,000</span>, respectively. This expense does not include non-lease components associated with the lease agreements as the Company elected not to include such charges as part of the lease expense.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89D_ecustom--ScheduleOfSupplementalBalanceSheetInformationForOperatingLeasesTableTextBlock_zYMiBpAWwQvj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Supplemental Balance Sheet Information for Operating Leases:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B2_zJzCgCWaIyk6" style="display: none">Schedule of Operating Leases</span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20260630_zhqaEWijQFg1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20251231_zltF49PnibC9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseDescriptionAbstract_iB_zXaLjpFl1u5e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating leases:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseRightOfUseAsset_i01I_pn3n3_zoxCy2KagQMi" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">Operating lease right of use assets</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,512</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,565</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingLeaseLiabilityAbstract_i01B_pn3n3_zIMPkikw141j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating lease liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OperatingLeaseLiabilityCurrent_i01I_pn3n3_maOLLzcOz_zxcmTnIclxYc" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Current portion of operating lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">383</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">375</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseLiabilityNoncurrent_i01I_pn3n3_maOLLzcOz_zkNJvRZ5pJL3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Noncurrent operating lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,412</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,421</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OperatingLeaseLiability_i01TI_pn3n3_mtOLLzcOz_zo3tvmafMFFg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total operating lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,795</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,796</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Cash paid for amounts included in the measurement of lease liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Operating cash flows</td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--OperatingLeasePayments_pn3n3_c20260101__20260630_zecHgcoFffPa" style="text-align: right" title="Operating cash flows">189</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--OperatingLeasePayments_pn3n3_c20250101__20251231_zMbL41Bif5ia" style="text-align: right" title="Operating cash flows">369</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Weighted average remaining lease term (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20260630_zp502a8l7ETf" title="Weighted average remaining lease term (in years)">12.9</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20251231_zO4RL5GfpS0l" title="Weighted average remaining lease term (in years)">13.4</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted average discount rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_c20260630_zAnEk1qZX2a5" title="Weighted average discount rate">13.5</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_c20251231_z2xgbkzICRuf" title="Weighted average discount rate">13.5</span></td><td style="text-align: left">%</td></tr> </table> <p id="xdx_8A9_zWUv278k4Ak2" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>ELECTROCORE, INC. AND SUBSIDIARIES</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Notes to Condensed Consolidated Financial Statements (unaudited)</b></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_894_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_z1m49IGzkDj3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Future minimum lease payments under non-cancelable operating leases as of June 30, 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BB_zkXXulAedt57" style="display: none">Schedule of Future Lease Payments</span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: left; font-weight: bold">Financial year (in thousands)</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20260630_zngyahSvOR66" style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_405_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_pn3n3_maLOLLPziBk_z0bz4EcbSfLj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; width: 78%">Remainder of 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">194</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maLOLLPziBk_zrL5iDpHwXga" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">397</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_maLOLLPziBk_z8ibxnKg4iHe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">412</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_maLOLLPziBk_zNvwy9ebXW68" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">417</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_maLOLLPziBk_z3IINgw4nwFe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">423</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour_iI_pn3n3_maLOLLPziBk_zZ3PEw2UT9i3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">2031 and thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,479</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_mtLOLLPziBk_zxSgHeumVy67" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Total future minimum lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,322</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_zUtqwTIr7E0f" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: Amounts representing interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,527</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiability_iI_pn3n3_zpf8si7dbph6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,795</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AB_z7s0nu0M0XT7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 120000 240000 178000 356000 <p id="xdx_89D_ecustom--ScheduleOfSupplementalBalanceSheetInformationForOperatingLeasesTableTextBlock_zYMiBpAWwQvj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Supplemental Balance Sheet Information for Operating Leases:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B2_zJzCgCWaIyk6" style="display: none">Schedule of Operating Leases</span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20260630_zhqaEWijQFg1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20251231_zltF49PnibC9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseDescriptionAbstract_iB_zXaLjpFl1u5e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating leases:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseRightOfUseAsset_i01I_pn3n3_zoxCy2KagQMi" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">Operating lease right of use assets</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,512</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,565</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingLeaseLiabilityAbstract_i01B_pn3n3_zIMPkikw141j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating lease liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OperatingLeaseLiabilityCurrent_i01I_pn3n3_maOLLzcOz_zxcmTnIclxYc" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Current portion of operating lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">383</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">375</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseLiabilityNoncurrent_i01I_pn3n3_maOLLzcOz_zkNJvRZ5pJL3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Noncurrent operating lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,412</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,421</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OperatingLeaseLiability_i01TI_pn3n3_mtOLLzcOz_zo3tvmafMFFg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total operating lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,795</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,796</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Cash paid for amounts included in the measurement of lease liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Operating cash flows</td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_eus-gaap--OperatingLeasePayments_pn3n3_c20260101__20260630_zecHgcoFffPa" style="text-align: right" title="Operating cash flows">189</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--OperatingLeasePayments_pn3n3_c20250101__20251231_zMbL41Bif5ia" style="text-align: right" title="Operating cash flows">369</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Weighted average remaining lease term (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20260630_zp502a8l7ETf" title="Weighted average remaining lease term (in years)">12.9</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20251231_zO4RL5GfpS0l" title="Weighted average remaining lease term (in years)">13.4</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted average discount rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_c20260630_zAnEk1qZX2a5" title="Weighted average discount rate">13.5</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_c20251231_z2xgbkzICRuf" title="Weighted average discount rate">13.5</span></td><td style="text-align: left">%</td></tr> </table> 2512000 2565000 383000 375000 2412000 2421000 2795000 2796000 189000 369000 P12Y10M24D P13Y4M24D 0.135 0.135 <p id="xdx_894_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_z1m49IGzkDj3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Future minimum lease payments under non-cancelable operating leases as of June 30, 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BB_zkXXulAedt57" style="display: none">Schedule of Future Lease Payments</span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: left; font-weight: bold">Financial year (in thousands)</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20260630_zngyahSvOR66" style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_405_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_pn3n3_maLOLLPziBk_z0bz4EcbSfLj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; width: 78%">Remainder of 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">194</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maLOLLPziBk_zrL5iDpHwXga" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">397</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_maLOLLPziBk_z8ibxnKg4iHe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">412</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_maLOLLPziBk_zNvwy9ebXW68" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">417</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_maLOLLPziBk_z3IINgw4nwFe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">423</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour_iI_pn3n3_maLOLLPziBk_zZ3PEw2UT9i3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">2031 and thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,479</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_mtLOLLPziBk_zxSgHeumVy67" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Total future minimum lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,322</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_zUtqwTIr7E0f" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: Amounts representing interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,527</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiability_iI_pn3n3_zpf8si7dbph6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,795</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 194000 397000 412000 417000 423000 4479000 6322000 3527000 2795000 <p id="xdx_805_eus-gaap--AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_zTO0rcPNFSwj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 8. <span id="xdx_822_zRLod9yEO8a7">Accrued Expenses and Other Current Liabilities</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_899_eus-gaap--ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_zTywK7bS9XY7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued expenses as of June 30, 2026 and December 31, 2025 consisted of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B6_zA7uQIsuMbJ7">Schedule of Accrued Expenses and Other Current Liabilities</span> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">(in thousands)</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20260630_z1Qcw3BUmWY" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2026</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20251231_zeUnem5zsS7l" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/> 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--AccruedProfessionalFeesCurrent_iI_pn3n3_maALCzKY5_zuWcZHFdW97f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Accrued professional fees</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,006</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,059</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AccruedBonusesCurrent_iI_pn3n3_maALCzKY5_zuuZvJFZjQv" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued bonuses and incentive compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,008</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,583</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--AccruedLegalFeesLitigationExpenseCurrent_iI_pn3n3_maALCzKY5_zYmWP6nv5tWd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued litigation legal fees expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,155</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,155</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AccruedInsuranceCurrent_iI_pn3n3_maALCzKY5_zrZpCm7e3iTa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued insurance expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0880">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">181</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--AccruedResearchAndDevelopmentExpensesCurrent_iI_pn3n3_maALCzKY5_zg9e0AbTmAq4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued research and development expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">655</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">655</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OtherEmployeeRelatedLiabilitiesCurrent_iI_pn3n3_maALCzKY5_zhB013VzIoqd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued vacation and other employee related expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,779</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--SalesAndExciseTaxPayableCurrent_iI_pn3n3_maALCzKY5_z5wee1FDqK7h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued tax expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">489</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">524</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--AccruedPurchases_iI_pn3n3_maALCzKY5_zLwB65bcRnw6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued purchases of inventory</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">117</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">86</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredRevenue_iI_pn3n3_maALCzKY5_zO5F0vcQ0Oa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">153</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--AccruedAcquisitionRelatedExpensesCurrent_iI_pn3n3_maALCzKY5_zYDk2yGZgUTe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued acquisition related expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">563</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">604</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_pn3n3_maALCzKY5_zeVo3EI8mk56" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">185</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">364</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AccruedLiabilitiesCurrent_iTI_pn3n3_mtALCzKY5_zKfnmya2HTe4" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued expenses and other current liabilities</span></span></span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,110</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,261</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AE_zQLpS2BGnTue" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Finance and Security Agreements </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 7, 2025, the Company and First Insurance Funding entered into a Commercial Insurance Premium Finance Agreement (the “2025 Finance Agreement”). The 2025 Finance Agreement provided for a single borrowing of approximately $<span id="xdx_900_eus-gaap--DebtInstrumentFaceAmount_iI_c20250707__us-gaap--TypeOfArrangementAxis__custom--TwoThousandAndTwentyFiveFinanceAgreementMember_zYqnEMAPTgz5">452,000</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">with a </span><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 9pt"><span id="xdx_90D_eus-gaap--DebtInstrumentTerm_dtM_c20250707__20250707__us-gaap--TypeOfArrangementAxis__custom--TwoThousandAndTwentyFiveFinanceAgreementMember_zbSiki3java" title="Debt term">10</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ten-month term and an annual interest rate of <span id="xdx_909_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20250707__us-gaap--TypeOfArrangementAxis__custom--TwoThousandAndTwentyFiveFinanceAgreementMember_z35ooEXUZtC7" title="Annual Interest rate">6.55</span>%. The proceeds from this transaction were used to partially fund the premiums due under certain of the Company’s insurance policies. The amounts payable were secured by the Company’s rights under such policies. Beginning in July 2025, the Company paid monthly installments of approximately $<span id="xdx_908_eus-gaap--DebtInstrumentPeriodicPayment_pn3d_c20250707__20250707__us-gaap--TypeOfArrangementAxis__custom--TwoThousandAndTwentyFiveFinanceAgreementMember_zJXOM4LV3vQj" title="Periodic payments">45,000</span> through May 2026, at which time the obligations under the 2025 Finance Agreement were fully satisfied.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the three and six months ended June 30, 2026, the Company recognized $<span id="xdx_900_eus-gaap--InterestExpense_c20260401__20260630_zdAN52dwPU1a" title="Interest expense">3,300</span> and $<span id="xdx_90A_eus-gaap--InterestExpense_c20260101__20260630_z2Gjnwi4Gj84" title="Interest expense">6,600</span>, respectively, in aggregate interest expense related to the Company’s finance and security agreements. During the three and six months ended June 30, 2025, the Company recognized $<span id="xdx_900_eus-gaap--InterestExpense_c20250401__20250630_zSUEj4y2Zyzb" title="Interest expense">4,500</span> and $<span id="xdx_903_eus-gaap--InterestExpense_c20250101__20250630_z4EqPY2bMcj" title="Interest expense">9,500</span>, respectively, in aggregate interest expense related to the Company’s finance and security agreements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsequent to June 30, 2026, the Company and First Insurance Funding entered into a Commercial Insurance Premium Finance Agreement (the “2026 Finance Agreement”). The 2026 Finance Agreement provides for a single borrowing of approximately $<span id="xdx_906_eus-gaap--DebtInstrumentFaceAmount_iI_c20260805__us-gaap--TypeOfArrangementAxis__custom--TwoThousandAndTwentySixFinanceAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zU7ju1g3ge7j">456,000</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">with a </span><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 9pt"><span id="xdx_903_eus-gaap--DebtInstrumentTerm_dtM_c20260701__20260805__us-gaap--TypeOfArrangementAxis__custom--TwoThousandAndTwentySixFinanceAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zCrO4L75H6ue" title="Debt term">10</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ten-month term and an annual interest rate of <span id="xdx_90A_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20260805__us-gaap--TypeOfArrangementAxis__custom--TwoThousandAndTwentySixFinanceAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zNHdbgTEmPBa" title="Annual Interest rate">7.250</span>%. The proceeds from this transaction were used to partially fund the premiums due under certain of the Company’s insurance policies. The amounts payable are secured by the Company’s rights under such policies. Beginning in July 2026, the Company began paying monthly installments of approximately $<span id="xdx_902_eus-gaap--DebtInstrumentPeriodicPayment_pn3d_c20260701__20260805__us-gaap--TypeOfArrangementAxis__custom--TwoThousandAndTwentySixFinanceAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zhNKHIKmV09f" title="Periodic payments">46,000</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>ELECTROCORE, INC. AND SUBSIDIARIES</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Notes to Condensed Consolidated Financial Statements (unaudited)</b></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_899_eus-gaap--ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_zTywK7bS9XY7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued expenses as of June 30, 2026 and December 31, 2025 consisted of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B6_zA7uQIsuMbJ7">Schedule of Accrued Expenses and Other Current Liabilities</span> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">(in thousands)</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20260630_z1Qcw3BUmWY" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2026</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20251231_zeUnem5zsS7l" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, <br/> 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--AccruedProfessionalFeesCurrent_iI_pn3n3_maALCzKY5_zuWcZHFdW97f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Accrued professional fees</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,006</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,059</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AccruedBonusesCurrent_iI_pn3n3_maALCzKY5_zuuZvJFZjQv" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued bonuses and incentive compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,008</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,583</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--AccruedLegalFeesLitigationExpenseCurrent_iI_pn3n3_maALCzKY5_zYmWP6nv5tWd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued litigation legal fees expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,155</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,155</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AccruedInsuranceCurrent_iI_pn3n3_maALCzKY5_zrZpCm7e3iTa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued insurance expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0880">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">181</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--AccruedResearchAndDevelopmentExpensesCurrent_iI_pn3n3_maALCzKY5_zg9e0AbTmAq4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued research and development expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">655</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">655</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OtherEmployeeRelatedLiabilitiesCurrent_iI_pn3n3_maALCzKY5_zhB013VzIoqd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued vacation and other employee related expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,779</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--SalesAndExciseTaxPayableCurrent_iI_pn3n3_maALCzKY5_z5wee1FDqK7h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued tax expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">489</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">524</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--AccruedPurchases_iI_pn3n3_maALCzKY5_zLwB65bcRnw6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued purchases of inventory</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">117</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">86</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredRevenue_iI_pn3n3_maALCzKY5_zO5F0vcQ0Oa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">153</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--AccruedAcquisitionRelatedExpensesCurrent_iI_pn3n3_maALCzKY5_zYDk2yGZgUTe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued acquisition related expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">563</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">604</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_pn3n3_maALCzKY5_zeVo3EI8mk56" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">185</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">364</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AccruedLiabilitiesCurrent_iTI_pn3n3_mtALCzKY5_zKfnmya2HTe4" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued expenses and other current liabilities</span></span></span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,110</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,261</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 1006000 1059000 2008000 2583000 1155000 1155000 181000 655000 655000 1779000 1000000 489000 524000 117000 86000 153000 50000 563000 604000 185000 364000 8110000 8261000 452000 P10M 0.0655 45000 3300 6600 4500 9500 456000 P10M 0.07250 46000 <p id="xdx_80F_eus-gaap--LongTermDebtTextBlock_zwIxBg8cBKHg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 9. <span id="xdx_82F_zXH8ky6XTHd8">Long-Term Debt </span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_899_eus-gaap--ConvertibleDebtTableTextBlock_z9t02b2RJ1sg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2026, long-term debt consists of notes payable and convertible notes payable as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B2_zdBxbFHkiA7c" style="display: none">Schedule of Notes Payable and Convertible Notes Payable</span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_492_20260101__20260630__us-gaap--LongtermDebtTypeAxis__custom--NonConvertibleNotesPayableMember_zdJ6jbeGVir8" style="font-weight: bold; text-align: center">Non-Convertible</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20260101__20260630__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zNIAqOEDfYwe" style="font-weight: bold; text-align: center">Convertible</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" id="xdx_49E_20260101__20260630_zzI8OYYShvHc"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Notes Payable</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Notes Payable</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--DebtInstrumentIssuedPrincipal_zcVtitqLGDY3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Principal Borrowed</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">5,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">2,500</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">7,500</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PaymentsForLoans_zq4VR5ZN247i" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Final Payment (<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5vdGVzIFBheWFibGUgYW5kIENvbnZlcnRpYmxlIE5vdGVzIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90A_ecustom--DebtInstrumentFuturePaymentDebtAmortizationPercentage_pid_dp_c20260101__20260630_zQhMeQDQwtC4" title="Future payment debt amortization percentage">3.50</span>%)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">175</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">87</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">262</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DebtInstrumentFaceAmount_iE_z6SUscmU9RGa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total Principal</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,175</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,587</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,762</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--AggregateDebtDiscountAmount_z9PoeuYSebAd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Aggregate Debt Discount</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(769</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(521</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,290</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_ecustom--DebtDiscountAmortizationAmount_zSxAymTqrvcj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Debt Discount Amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">176</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">120</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">296</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DebtInstrumentUnamortizedDiscount_iNE_di_zT8HEB4xMIi7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Unamortized Debt Discount</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(593</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(401</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(994</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DebtInstrumentFaceAmount_iE_zCgQUdcahY08" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total Principal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,175</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,587</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,762</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DebtInstrumentUnamortizedDiscount_iNE_di_zzBRDAWpWa3g" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Unamortized Debt Discount</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(593</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(401</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(994</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_404_ecustom--LongTermsDebtCurrent_zs2QHK3jmShh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Long-Term Debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,582</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,186</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,768</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--LessCurrentPortionOfDebt_zNHfKM7iamgk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: Current Portion of Debt</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0972">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--LongTermsDebt_zImrAXAsR6Nl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Long-Term Debt</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,582</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,186</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,768</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A1_zL9t1s1BowF9" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><i>Avenue Loan and Security Agreement</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">On the LSA Closing Date, the Company and NURO entered into the Loan and Security Agreement with </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Avenue, as administrative agent and collateral agent, and as lender <span style="background-color: white">for term loans in an aggregate principal amount of up to $<span id="xdx_90B_ecustom--InitialCapacityOfDebtInstrument_iI_pn6n6_c20260630__us-gaap--TypeOfArrangementAxis__custom--LoanAndSecurityAgreementMember__srt--RangeAxis__srt--MaximumMember_zl2c9D0S69Ci" title="Initial capacity of debt instrument">12</span> million to be delivered in two tranches (the “Term Loans”). The tranches consist of (i) a term loan advanced to the Company on the LSA Closing Date in an aggregate amount of $<span id="xdx_906_eus-gaap--DebtInstrumentIssuedPrincipal_pn5n6_c20260101__20260630__us-gaap--TypeOfArrangementAxis__custom--LoanAndSecurityAgreementMember__us-gaap--DebtInstrumentAxis__custom--TrancheOneMember_zQuqUggNlvV8" title="Debt principal amount">7.5</span> million (“Tranche 1”), and (ii) subject to the achievement of certain performance milestones set forth in the Loan and Security Agreement, a right of the Company to request that Avenue make additional term loan advances to the Company in an aggregate amount of $<span id="xdx_909_ecustom--AdditionalTermLoan_pn5n6_c20260101__20260630__us-gaap--TypeOfArrangementAxis__custom--LoanAndSecurityAgreementMember__us-gaap--DebtInstrumentAxis__custom--TrancheTwoMember_zdije1MOZcF1" title="Additional term loan">4.5</span> million (“Tranche 2”), which right expired on December 31, 2025. The Term Loans mature on <span id="xdx_907_eus-gaap--DebtInstrumentMaturityDate_c20260101__20260630__us-gaap--TypeOfArrangementAxis__custom--LoanAndSecurityAgreementMember_znOGRuI27Xa8" title="Debt Maturity date">August 1, 2029</span> (the “Maturity Date”). </span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subject to certain exceptions, Avenue has the right to convert (the “Conversion Right”) an aggregate amount of up to $<span id="xdx_901_eus-gaap--DebtConversionConvertedInstrumentAmount1_pn5n6_c20260101__20260630__us-gaap--TypeOfArrangementAxis__custom--LoanAndSecurityAgreementMember_z3nKPvK1nqHa" title="Debt conversion converted instrument, amount">2.5</span> million of the outstanding Loan Amount into shares of the Company’s common stock at a conversion price per share equal to $<span id="xdx_905_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_pid_c20260630__us-gaap--TypeOfArrangementAxis__custom--LoanAndSecurityAgreementMember_zdkBwW7vQnA9" title="Debt conversion price per share">8.4625</span>, representing <span id="xdx_90B_eus-gaap--DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger_pid_dp_c20260101__20260630__us-gaap--TypeOfArrangementAxis__custom--LoanAndSecurityAgreementMember_z8MMcWbuUWb4" title="Debt conversion price, percentage">125</span>% of the lower of (i) the five-day volume-weighted average price of Company’s common stock as calculated on the day prior to the LSA Closing Date, or (ii) the closing price of Company’s common stock on the date prior to the LSA Closing Date ($<span id="xdx_903_eus-gaap--SharePrice_iI_pid_c20260630__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zInPs8eM4SX5" title="Closing stock price">6.77</span>). Therefore, the Company recorded the borrowings under Tranche 1 as Non-Convertible and Convertible Notes Payable, respectively. In the event the Company elects to prepay the Term Loans in full, the Company shall provide no less than five business days’ prior written notice to Avenue; provided, however, if Avenue has not yet exercised the Conversion Right, the Company shall provide written notice of prepayment at least 10 days in advance of the proposed prepayment date and Avenue shall have the option, with respect to the Conversion Right, to exercise the Conversion Right by delivering written notice to the Company at least two business days in advance of the proposed prepayment date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The principal balance of the Term Loans bears interest at a variable rate per annum equal to the greater of (i) the sum of <span id="xdx_907_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20260630__us-gaap--TypeOfArrangementAxis__custom--LoanAndSecurityAgreementMember__srt--RangeAxis__srt--MinimumMember__custom--VariableRatesAxis__custom--FixedPlusPrimeRateMember_zcDhFCa7cF47" title="Interest rate">5.0</span>% and the prime rate as reported in <i>The Wall Street Journal</i>, provided that, in the event such prime rate of interest is less than zero, such rate shall be deemed to be zero, and (ii) twelve and one-half percent (<span id="xdx_903_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20260630__us-gaap--TypeOfArrangementAxis__custom--LoanAndSecurityAgreementMember__srt--RangeAxis__srt--MaximumMember_zsoSq2YaOgN3" title="Interest rate">12.50</span>%) (the “Interest Rate”). Interest only shall be payable at the Interest Rate during the period following the LSA Closing Date and continuing until the first day of the first full calendar month following the 18 month anniversary of the LSA Closing Date, provided, however, that such period shall be extended for six months if as of the 18 month anniversary of the LSA Closing Date, the Company has achieved certain milestones, as provided in the Supplement to the Loan and Security Agreement dated August 4, 2025, by and among the Company, NURO and Avenue (the “Supplement”); provided, further, however, that such interest only period shall not exceed 24 months. Thereafter, principal and interest of the Term Loans shall be fully amortized and paid, in equal, monthly principal installments, plus interest at the Interest Rate for such month, through the Maturity Date, subject to the terms and conditions of the Supplement. The Company will pay final payment at a fee of <span id="xdx_903_ecustom--DebtInstrumentFuturePaymentDebtAmortizationPercentage_pid_dp_c20260101__20260630__us-gaap--TypeOfArrangementAxis__custom--LoanAndSecurityAgreementMember_ziCnyqDNJ3Og" title="Future payment debt amortization percentage">3.5</span>% of the Loan Amount, due upon the earlier of the Maturity Date or prepayment in full of the Term Loans, which is currently $<span id="xdx_90E_eus-gaap--PaymentsForLoans_c20260101__20260630__us-gaap--TypeOfArrangementAxis__custom--LoanAndSecurityAgreementMember__us-gaap--DebtInstrumentAxis__custom--TrancheOneMember_zgTdY2O6Xa0c" title="Payments for term loans">262,500</span> based on the borrowing under Tranche 1.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>ELECTROCORE, INC. AND SUBSIDIARIES</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Notes to Condensed Consolidated Financial Statements (unaudited)</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company may, at its option at any time, prepay the Term Loans in their entirety by paying the then outstanding principal balance and all accrued and unpaid interest on the Term Loans, subject to a prepayment fee equal to <span id="xdx_90F_eus-gaap--DebtInstrumentDescription_c20260101__20260630__us-gaap--TypeOfArrangementAxis__custom--LoanAndSecurityAgreementMember_zM8QE5SbOmY7" title="Debt instrument, description">(i) 3.0% of the principal amount outstanding if the prepayment occurs on or prior to the first anniversary following the LSA Closing Date, (ii) 2.0% of the principal amount outstanding if the prepayment occurs after the first anniversary following the LSA Closing Date, but on or prior to the second anniversary following the LSA Closing Date, and (iii) 1.0% of the principal amount outstanding if the prepayment occurs after the second anniversary following the LSA Closing Date, but on or prior to the Maturity Date.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company incurred borrower commitment and legal fees of $<span id="xdx_90D_eus-gaap--DebtInstrumentUnamortizedDiscountCurrent_iI_pn3d_c20260630_zT4mti2Qduf1" title="Debt instrument, unamortized discount">1,290,000</span>, which are presented as debt discounts, of which $<span id="xdx_90E_ecustom--DebtIssuanceCostsSettledInShares_c20260101__20260630_zO5m9xWBjs6f" title="Debt issuance costs settled in shares">719,996</span> was settled in the issuance of the Company’s common stock (discussed further below). During the three and six months ended June 30, 2026, the Company recorded interest expense of $<span id="xdx_902_eus-gaap--InterestExpenseDebt_pn3d_c20260401__20260630_ztBdbPbQPe06" title="Interest Expense, debt">321,000</span> and $<span id="xdx_90F_eus-gaap--InterestExpenseDebt_pn3d_c20260101__20260630_z4RnFbeTSmc9" title="Interest Expense, debt">639,000</span>, respectively, which included amortization of debt discount of $<span id="xdx_903_eus-gaap--AmortizationOfDebtDiscountPremium_pn3d_c20260401__20260630_zYQ5PxbZ8tGi" title="Amortization of debt discount">80,000</span> and $<span id="xdx_90F_eus-gaap--AmortizationOfDebtDiscountPremium_pn3d_c20260101__20260630_zg00CQIkjOH6" title="Amortization of debt discount">161,000</span>, respectively. As of June 30, 2026, the interest rate on Tranche 1 is <span id="xdx_903_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20260630__us-gaap--TypeOfArrangementAxis__custom--LoanAndSecurityAgreementMember__us-gaap--DebtInstrumentAxis__custom--TrancheOneMember_zpWX5ZxJbzk8" title="Debt interest rate, percentage">12.5</span>%.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Loan and Security Agreement is collateralized by substantially all of the Company’s assets in which Avenue is granted a senior secured lien. The Company also grants Avenue a negative pledge on the Company’s intellectual property, subject to limited exceptions, pursuant to the Loan and Security Agreement. The Loan and Security Agreement contains customary representations, warranties and covenants, including covenants limiting certain additional indebtedness, liens (including a negative pledge on intellectual property and other assets, subject to limited exceptions), guaranties, substantial asset sales, investments and loans, certain corporate changes, transactions with affiliates and fundamental changes. The financial covenants include a minimum level of revenue and cash and cash equivalents. We were in compliance with these financial covenants as of June 30, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Loan and Security Agreement provides for events of default customary for term loans of this type, including but not limited to non-payment, breaches or defaults in the performance of covenants, insolvency, bankruptcy and the occurrence of a material adverse effect on the Company. After the occurrence of an event of default, Avenue may (i) accelerate payment of all obligations, impose an increased rate of interest, and terminate Avenue commitments under the Loan and Security Agreement and (ii) exercise any other right or remedy provided by contract or applicable law.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Avenue shall have the right, but not the obligation, to invest up to an aggregate of $<span id="xdx_906_ecustom--PotentialCashInflowsFromIssuanceOfStock_pn6n6_c20260101__20260630__us-gaap--TypeOfArrangementAxis__custom--LoanAndSecurityAgreementMember__us-gaap--DebtInstrumentAxis__custom--TrancheOneMember_zhtK2MG7HV03" title="Potential cash in flows from issuance of stock">1</span> million in equity securities of the Company on the same terms, conditions, and pricing offered by the Company to other investors in connection with any offering of the Company’s equity securities to third party investors for capital raising purposes occurring after the Closing Date, on the terms and conditions set forth in the Supplement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Avenue Subscription Agreement</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In connection with the entry into the Loan and Security Agreement, the Company entered into a Subscription Agreement (the “Subscription Agreement”) between the Company and Avenue, pursuant to which the Company issued <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20260101__20260630__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember_zGihNdzZJdVa" title="Share issued">106,351</span> shares (the “Subscription Shares”) of the Company’s common stock to Avenue for no additional consideration. The shares were valued at $<span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20260101__20260630__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember_zcgzWGtuZNl5" title="Share issued, value">719,996</span> based on the Company’s stock price on the LSA Closing Date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The issuance of the Subscription Shares was made in reliance on the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and Rule 506 of Regulation D thereunder, because the offer and sale of such securities does not involve a “public offering” as defined in Section 4(a)(2) of the Securities Act.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the Subscription Agreement, the Company filed with the SEC a registration statement on Form S-3 (File No. 333-290713) to cover the resale of the Subscription Shares, and the shares of the Company’s common stock issuable upon the Conversion Right pursuant to the Loan and Security Agreement, which registration statement became effective on October 22, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The foregoing summary of the Loan and Security Agreement, the Supplement and the Subscription Agreement do not purport to be complete and are qualified in their entirety by reference to the full text of Loan and Security Agreement and the Supplement, which are filed as Exhibits 10.1, 10.2 and 10.3 to the Company’s Quarterly Report on Form 10-Q for the period ended June 30, 2025, and are incorporated by reference herein.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>ELECTROCORE, INC. AND SUBSIDIARIES</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Notes to Condensed Consolidated Financial Statements (unaudited)</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> </p> <p id="xdx_896_eus-gaap--ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_zBx7YuU25hA2" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maturities on long-term debt include:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B1_zMLIjncec3a8" style="display: none">Schedule of Maturities of Long-term Debt</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20260630_zDPAvBlqlbRb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_iI_pn3n3_maLTDzpED_zk0D73Uf8HUc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Remainder of 2026</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1027">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pn3n3_maLTDzpED_ziIXM8x8X8m4" style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left">2027</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right">2,500</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_pn3n3_maLTDzpED_zgOOty2Z0Yq5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_pn3n3_maLTDzpED_zmDBAcfcfJL7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">2029</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,262</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LongTermDebt_iTI_pn3n3_mtLTDzpED_znf9zk5Nw4Wb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,762</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A3_z12YSg7HmuM1" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_899_eus-gaap--ConvertibleDebtTableTextBlock_z9t02b2RJ1sg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2026, long-term debt consists of notes payable and convertible notes payable as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B2_zdBxbFHkiA7c" style="display: none">Schedule of Notes Payable and Convertible Notes Payable</span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_492_20260101__20260630__us-gaap--LongtermDebtTypeAxis__custom--NonConvertibleNotesPayableMember_zdJ6jbeGVir8" style="font-weight: bold; text-align: center">Non-Convertible</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20260101__20260630__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zNIAqOEDfYwe" style="font-weight: bold; text-align: center">Convertible</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" id="xdx_49E_20260101__20260630_zzI8OYYShvHc"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Notes Payable</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Notes Payable</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--DebtInstrumentIssuedPrincipal_zcVtitqLGDY3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Principal Borrowed</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">5,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">2,500</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">7,500</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PaymentsForLoans_zq4VR5ZN247i" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Final Payment (<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIE5vdGVzIFBheWFibGUgYW5kIENvbnZlcnRpYmxlIE5vdGVzIFBheWFibGUgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_90A_ecustom--DebtInstrumentFuturePaymentDebtAmortizationPercentage_pid_dp_c20260101__20260630_zQhMeQDQwtC4" title="Future payment debt amortization percentage">3.50</span>%)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">175</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">87</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">262</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DebtInstrumentFaceAmount_iE_z6SUscmU9RGa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total Principal</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,175</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,587</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,762</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--AggregateDebtDiscountAmount_z9PoeuYSebAd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Aggregate Debt Discount</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(769</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(521</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,290</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_ecustom--DebtDiscountAmortizationAmount_zSxAymTqrvcj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Debt Discount Amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">176</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">120</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">296</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DebtInstrumentUnamortizedDiscount_iNE_di_zT8HEB4xMIi7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Unamortized Debt Discount</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(593</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(401</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(994</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DebtInstrumentFaceAmount_iE_zCgQUdcahY08" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total Principal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,175</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,587</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,762</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DebtInstrumentUnamortizedDiscount_iNE_di_zzBRDAWpWa3g" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Unamortized Debt Discount</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(593</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(401</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(994</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_404_ecustom--LongTermsDebtCurrent_zs2QHK3jmShh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Long-Term Debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,582</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,186</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,768</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--LessCurrentPortionOfDebt_zNHfKM7iamgk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: Current Portion of Debt</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0972">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--LongTermsDebt_zImrAXAsR6Nl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Long-Term Debt</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,582</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,186</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,768</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 5000000 2500000 7500000 0.0350 175000 87000 262000 5175000 2587000 7762000 -769000 -521000 -1290000 176000 120000 296000 593000 401000 994000 5175000 2587000 7762000 593000 401000 994000 4582000 2186000 6768000 -1000000 -1000000 3582000 2186000 5768000 12000000 7500000 4500000 2029-08-01 2500000 8.4625 1.25 6.77 0.050 0.1250 0.035 262500 (i) 3.0% of the principal amount outstanding if the prepayment occurs on or prior to the first anniversary following the LSA Closing Date, (ii) 2.0% of the principal amount outstanding if the prepayment occurs after the first anniversary following the LSA Closing Date, but on or prior to the second anniversary following the LSA Closing Date, and (iii) 1.0% of the principal amount outstanding if the prepayment occurs after the second anniversary following the LSA Closing Date, but on or prior to the Maturity Date. 1290000 719996 321000 639000 80000 161000 0.125 1000000 106351 719996 <p id="xdx_896_eus-gaap--ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_zBx7YuU25hA2" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maturities on long-term debt include:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B1_zMLIjncec3a8" style="display: none">Schedule of Maturities of Long-term Debt</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20260630_zDPAvBlqlbRb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_iI_pn3n3_maLTDzpED_zk0D73Uf8HUc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Remainder of 2026</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1027">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pn3n3_maLTDzpED_ziIXM8x8X8m4" style="vertical-align: bottom; background-color: White"> <td style="width: 78%; text-align: left">2027</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right">2,500</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_pn3n3_maLTDzpED_zgOOty2Z0Yq5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_pn3n3_maLTDzpED_zmDBAcfcfJL7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">2029</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,262</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LongTermDebt_iTI_pn3n3_mtLTDzpED_znf9zk5Nw4Wb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,762</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 2500000 3000000 2262000 7762000 <p id="xdx_809_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_zFQGmmqMjth9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 10. <span id="xdx_828_z3tVVAbVS7B6">Shareholders’ Equity</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>At-the-Market Facility</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 29, 2024, we entered into the Sales Agreement with Wainwright. Under the Sales Agreement, the Company may offer and sell shares of its common stock from time to time having an aggregate offering price of up to $<span id="xdx_90F_ecustom--CommonStockAggregateOfferingPriceUnderAgreement_pn6n6_c20241129__20241129__us-gaap--TypeOfArrangementAxis__custom--SalesAgreementMember__srt--RangeAxis__srt--MaximumMember_z3Gs769PPZe5" title="Common stock aggregate offering price under agreement">20</span> million during the term of the Sales Agreement through Wainwright, acting as sales agent. The Company intends to use the net proceeds from any offering pursuant to the Sales Agreement to continue to fund sales and marketing, working capital and for other general corporate purposes. For the three and six months ended June 30, 2026, the Company sold <span id="xdx_900_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20260401__20260630__us-gaap--TypeOfArrangementAxis__custom--SalesAgreementMember_z7mnIUUeJBej" title="Sale of shares"><span id="xdx_909_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20260101__20260630__us-gaap--TypeOfArrangementAxis__custom--SalesAgreementMember_zoIEvTfNgysa" title="Sale of shares">494,601</span></span> shares of its common stock at a weighted average price of $<span id="xdx_90C_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20260630__us-gaap--TypeOfArrangementAxis__custom--SalesAgreementMember_zCj5fVsVdSR2" title="Share price">8.17</span> per share, net of $<span id="xdx_904_eus-gaap--PaymentsOfStockIssuanceCosts_pn5n6_c20260401__20260630__us-gaap--TypeOfArrangementAxis__custom--SalesAgreementMember_zaZYNuBvRHia" title="Issuance of costs"><span id="xdx_904_eus-gaap--PaymentsOfStockIssuanceCosts_pn5n6_c20260101__20260630__us-gaap--TypeOfArrangementAxis__custom--SalesAgreementMember_zU20aPXH8sY" title="Issuance of costs">0.2</span></span> million of issuance costs for approximately $<span id="xdx_905_ecustom--ProceedsFromIssuanceOfEquity_pn5n6_c20260401__20260630__us-gaap--TypeOfArrangementAxis__custom--SalesAgreementMember_zdpYjAKpBvK" title="Net proceeds from issuance"><span id="xdx_900_ecustom--ProceedsFromIssuanceOfEquity_pn5n6_c20260101__20260630__us-gaap--TypeOfArrangementAxis__custom--SalesAgreementMember_zmCImW8XFi83" title="Net proceeds from issuance">3.9</span></span> million in net proceeds, pursuant to the Sales Agreement. Subsequent to June 30, 2026, the Company sold <span id="xdx_90D_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20260701__20260805__us-gaap--TypeOfArrangementAxis__custom--SalesAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z8DI0DgQWIo5" title="Sale of shares">10,745</span> shares of its common stock at a weighted average price of $<span id="xdx_906_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20260805__us-gaap--TypeOfArrangementAxis__custom--SalesAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zwu049vha2Q3" title="Share price">8.35</span> per share, net of issuance costs, for approximately $<span id="xdx_90C_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_c20260701__20260805__us-gaap--TypeOfArrangementAxis__custom--SalesAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zQIi0f4HPF41" title="Net proceeds from issuance">86,200</span> in net proceeds, pursuant to the Sales Agreement. No sales were made pursuant to the Sales Agreement during the three months ended March 31, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Including purchases in 2025, the Company has sold <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_ztDzM8CVqvU7" title="Stock issued during the period, shares">519,611</span> shares of common stock for $<span id="xdx_905_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn3d_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zc40cbdz83tb" title="Stock issued during the period, value">4,203,000</span> in proceeds, net of issuance costs, pursuant to the Sales Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Stock Purchase Warrants</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89D_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zw9v6lJPzEi2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents a summary of stock purchase warrants outstanding as of June 30, 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B9_z5ifUxEGzuBg" style="display: none">Schedule of Stock Purchase Warrants Outstanding</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Number of Warrants</p> <p style="margin-top: 0; margin-bottom: 0">(in thousands)</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Weighted Average</p> <p style="margin-top: 0; margin-bottom: 0">Exercise Price</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Remaining Contractual Term (Years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Aggregate Intrinsic Value </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(in thousands)</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%">Outstanding, January 1, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pn3n3_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zmRpFOULXw6j" style="width: 12%; text-align: right" title="Number of Warrants, outstanding beginning">1,496</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zfQhcRP7lSWa" style="width: 12%; text-align: right" title="Weighted Average Exercise Price, beginning balance">5.19</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20250101__20251231__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zT2Mc7ToMFN9" style="width: 12%; text-align: right" title="Weighted Average Remaining Contractual Term">3.23</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding_iS_pn3n3_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zvVmaAOy86ze" style="width: 12%; text-align: right" title="Aggregate Intrinsic Value, beginning balance">121</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Stock Purchase Warrants *</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_fKg_____zDJm4tPtilai" style="text-align: right" title="Number of Warrants, Stock purchase warrants granted"><span style="-sec-ix-hidden: xdx2ixbrl1075">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_di_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zVAMLXeABaXb" style="text-align: right" title="Number of Warrants, Exercised">(56</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisedInPeriodWeightedAverageGrantDateFairValue_pid_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zciwwgcVuZE" style="text-align: right" title="Weighted Average Exercise Price, Exercised">5.06</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpired_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zj381I2FUavj" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Warrants, Expired"><span style="-sec-ix-hidden: xdx2ixbrl1081">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding, June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_pn3n3_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zpvquho5i9O7" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Warrants, outstanding beginning">1,440</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zwzj2VjFnwTl" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price, beginning balance">5.19</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zMLns2gaZfMd" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Remaining Contractual Term">2.73</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding_iE_pn3n3_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zvhEFVK0D4ye" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate Intrinsic Value, beginning balance">4,965</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Exercisable, June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisable_iE_pn3n3_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zZSaMr2fhIR5" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Warrants, outstanding">1,440</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisableInPeriodWeightedAverageGrantDateFairValue_iE_pid_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zTaSwWTq6p1i" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price, exercisable">5.19</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zmH7RglaUk7l" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Remaining Contractual Term, Exercisable">2.73</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionAggregateIntrinsicValueExercisable_iE_pn3n3_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zdSGtz9o9Sd3" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate Intrinsic Value, exercisable">4,965</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span id="xdx_F04_zKzIQChlmyT5" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>*</i></span></td><td style="text-align: justify"><span id="xdx_F1F_zxFdyJX1YXs9" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A total of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIFN0b2NrIFB1cmNoYXNlIFdhcnJhbnRzIE91dHN0YW5kaW5nIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_90D_eus-gaap--IncrementalCommonSharesAttributableToCallOptionsAndWarrants_pid_c20260101__20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zLpmeWMU9m16" title="Incremental common shares attributable to dilutive effect of call options and warrants">883,433</span> <span style="background-color: white">pre-funded warrants are excluded from this table.</span></span></td> </tr></table> <p id="xdx_8A2_z1oh94PaaeE6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 20000000 494601 494601 8.17 200000 200000 3900000 3900000 10745 8.35 86200 519611 4203000 <p id="xdx_89D_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zw9v6lJPzEi2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents a summary of stock purchase warrants outstanding as of June 30, 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B9_z5ifUxEGzuBg" style="display: none">Schedule of Stock Purchase Warrants Outstanding</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Number of Warrants</p> <p style="margin-top: 0; margin-bottom: 0">(in thousands)</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Weighted Average</p> <p style="margin-top: 0; margin-bottom: 0">Exercise Price</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Remaining Contractual Term (Years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Aggregate Intrinsic Value </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(in thousands)</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%">Outstanding, January 1, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pn3n3_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zmRpFOULXw6j" style="width: 12%; text-align: right" title="Number of Warrants, outstanding beginning">1,496</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zfQhcRP7lSWa" style="width: 12%; text-align: right" title="Weighted Average Exercise Price, beginning balance">5.19</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20250101__20251231__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zT2Mc7ToMFN9" style="width: 12%; text-align: right" title="Weighted Average Remaining Contractual Term">3.23</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding_iS_pn3n3_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zvVmaAOy86ze" style="width: 12%; text-align: right" title="Aggregate Intrinsic Value, beginning balance">121</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Stock Purchase Warrants *</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_fKg_____zDJm4tPtilai" style="text-align: right" title="Number of Warrants, Stock purchase warrants granted"><span style="-sec-ix-hidden: xdx2ixbrl1075">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_di_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zVAMLXeABaXb" style="text-align: right" title="Number of Warrants, Exercised">(56</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisedInPeriodWeightedAverageGrantDateFairValue_pid_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zciwwgcVuZE" style="text-align: right" title="Weighted Average Exercise Price, Exercised">5.06</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpired_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zj381I2FUavj" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Warrants, Expired"><span style="-sec-ix-hidden: xdx2ixbrl1081">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding, June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_pn3n3_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zpvquho5i9O7" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Warrants, outstanding beginning">1,440</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zwzj2VjFnwTl" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price, beginning balance">5.19</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zMLns2gaZfMd" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Remaining Contractual Term">2.73</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding_iE_pn3n3_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zvhEFVK0D4ye" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate Intrinsic Value, beginning balance">4,965</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Exercisable, June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisable_iE_pn3n3_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zZSaMr2fhIR5" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Warrants, outstanding">1,440</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisableInPeriodWeightedAverageGrantDateFairValue_iE_pid_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zTaSwWTq6p1i" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price, exercisable">5.19</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zmH7RglaUk7l" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Remaining Contractual Term, Exercisable">2.73</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionAggregateIntrinsicValueExercisable_iE_pn3n3_c20260101__20260630__us-gaap--AwardTypeAxis__custom--StockPurchaseWarrantsMember_zdSGtz9o9Sd3" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate Intrinsic Value, exercisable">4,965</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span id="xdx_F04_zKzIQChlmyT5" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>*</i></span></td><td style="text-align: justify"><span id="xdx_F1F_zxFdyJX1YXs9" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A total of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNjaGVkdWxlIG9mIFN0b2NrIFB1cmNoYXNlIFdhcnJhbnRzIE91dHN0YW5kaW5nIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_90D_eus-gaap--IncrementalCommonSharesAttributableToCallOptionsAndWarrants_pid_c20260101__20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zLpmeWMU9m16" title="Incremental common shares attributable to dilutive effect of call options and warrants">883,433</span> <span style="background-color: white">pre-funded warrants are excluded from this table.</span></span></td> </tr></table> 1496000 5.19 P3Y2M23D 121000 56000 5.06 1440000 5.19 P2Y8M23D 4965000 1440000 5.19 P2Y8M23D 4965000 883433 <p id="xdx_803_eus-gaap--EarningsPerShareTextBlock_zAAzLIwgXCW5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 11. <span id="xdx_82F_zZ923MB5798b">Net Loss Per Share</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period. Diluted loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding adjusted to give effect to potentially dilutive securities. Due to their nominal exercise price of $<span id="xdx_90D_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_c20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z2zxl9tMhnsb" title="Common stock, par value"><span id="xdx_904_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_c20250630__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zV8ApAyLsQca" title="Common stock, par value">0.001</span></span> per share, <span id="xdx_901_ecustom--IncrementalCommonSharesAttributableToWarrantsIncludedInEarningsPerShare_pid_c20260401__20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zC5xbvjTFuSf" title="Incremental common shares attributable to warrants included in earnings per share"><span id="xdx_907_ecustom--IncrementalCommonSharesAttributableToWarrantsIncludedInEarningsPerShare_pid_c20260101__20260630__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zvhxBzFCf366" title="Incremental common shares attributable to warrants included in earnings per share"><span id="xdx_90B_ecustom--IncrementalCommonSharesAttributableToWarrantsIncludedInEarningsPerShare_pid_c20250401__20250630__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_znwqKrMysB2c" title="Incremental common shares attributable to warrants included in earnings per share"><span id="xdx_909_ecustom--IncrementalCommonSharesAttributableToWarrantsIncludedInEarningsPerShare_pid_c20250101__20250630__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zUFWkCGbLgSl" title="Incremental common shares attributable to warrants included in earnings per share">883,433</span></span></span></span> pre-funded warrants are considered common stock equivalents during the three and six months ended June 30, 2026 and 2025, respectively, and are included in weighted average shares outstanding in the accompanying condensed consolidated statement of operations as of the closing date of the Company’s July 2023 Securities Purchase Agreements. Restricted stock and unit awards, stock options, and warrants (other than the pre-funded warrants) have not been included in the diluted loss per share calculation as their inclusion would have had an anti-dilutive effect.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>ELECTROCORE, INC. AND SUBSIDIARIES</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Notes to Condensed Consolidated Financial Statements (unaudited)</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> </p> <p id="xdx_893_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zOHUUOHuwNk9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The potential common stock equivalents that have been excluded from the computation of diluted loss per share consist of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B8_zDnK3Wpei9Aj" style="display: none">Schedule of Common Stock Equivalent from the Computation of Diluted Loss Per Share</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; padding-bottom: 1pt; font-weight: bold">(in thousands)</td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260101__20260630_zFNPSJaLnZQ7" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2026</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250101__20250630_z9plpdGrcDEh" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2025</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zFVdnhlG8Dvf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Outstanding stock options</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">369</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">530</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_zBXWyJk5hYO3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Restricted stock and unit awards</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">700</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">453</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleDebtSecuritiesMember_zHRSS852irK2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Debt conversion shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">295</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1125">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zaTJ9quIdz3l" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Stock purchase warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,440</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,497</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_zwmqR0VCq1lb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif"> Total common stock equivalents</span></span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,804</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,480</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AE_z6Zj7vNiGwe6" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> 0.001 0.001 883433 883433 883433 883433 <p id="xdx_893_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zOHUUOHuwNk9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The potential common stock equivalents that have been excluded from the computation of diluted loss per share consist of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B8_zDnK3Wpei9Aj" style="display: none">Schedule of Common Stock Equivalent from the Computation of Diluted Loss Per Share</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; padding-bottom: 1pt; font-weight: bold">(in thousands)</td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260101__20260630_zFNPSJaLnZQ7" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2026</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250101__20250630_z9plpdGrcDEh" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2025</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zFVdnhlG8Dvf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Outstanding stock options</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">369</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">530</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_zBXWyJk5hYO3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Restricted stock and unit awards</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">700</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">453</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleDebtSecuritiesMember_zHRSS852irK2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Debt conversion shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">295</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1125">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zaTJ9quIdz3l" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Stock purchase warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,440</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,497</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn3n3_zwmqR0VCq1lb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif"> Total common stock equivalents</span></span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,804</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,480</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 369000 530000 700000 453000 295000 1440000 1497000 2804000 2480000 <p id="xdx_803_eus-gaap--IncomeTaxDisclosureTextBlock_zonh4JI837b6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 12. <span id="xdx_829_zYI75G4wyiG5">Income Taxes</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company may be eligible, from time to time, to receive cash from the sale of its net operating losses under New Jersey’s Department of the Treasury - Division of Taxation NOL Transfer Program. During the six months ended June 30, 2026 and 2025, the Company sold New Jersey NOL carry forwards, resulting in the receipt of net cash payments of $<span id="xdx_905_ecustom--ProceedsFromSaleOfStateNetOperatingLosses_pn3d_c20260101__20260630_zvJnXkpbv7Cd" title="Proceeds from sale of state net operating losses">321,000</span> and $<span id="xdx_907_ecustom--ProceedsFromSaleOfStateNetOperatingLosses_pn3d_c20250101__20250630_z2WSZgmMd5Xk" title="Proceeds from sale of state net operating losses">48,000</span>, respectively. There can be no assurance as to the continuation or magnitude of this program in the future.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 321000 48000 <p id="xdx_80E_eus-gaap--DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_zVYbGyhlh1eh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 13. <span id="xdx_822_zMEt75kv1rkl">Stock Based Compensation</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company grants stock based compensation to certain employees and board of directors under the Company’s 2018 Omnibus Equity Incentive Plan (“Plan”). As of June 30, 2026, approximately <span id="xdx_90E_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_pid_c20260630__us-gaap--PlanNameAxis__custom--TwoThousandEighteenOmnibusEquityIncentivePlanMember_zWWeEQxvxZF2" title="Stock reserved for future issuance">412,000</span> shares of common stock were reserved for issuance as awards under the Plan. The Company’s policy is to issue new shares of its common stock upon the exercise of stock options, new grants of restricted stock awards, and settlement of restricted stock units (“RSUs”). Stock options issued under the plan have a contractual life of <span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod_dtY_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwoThousandEighteenOmnibusEquityIncentivePlanMember_zD4yBauhJiff" title="Contractual life">10</span> years and are generally forfeited upon separation from the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents stock compensation expense recognized by the Company for the three and six months ended June 30, 2026 and 2025. Total unrecognized compensation cost related to equity awards as of June 30, 2026 was $<span id="xdx_906_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_pn5n6_c20260630_zFcXbFcTYbA4" title="Unrecognized compensation cost">2.8</span> million and is expected to be recognized over the next <span id="xdx_907_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20260101__20260630_znnICHHl7pRa" title="Unrecognized compensation expected to be recognized">1.8</span> years.</span></p> <p id="xdx_893_eus-gaap--ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_zlbmT4RMzgi8" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BF_zMXA7EtEH1ye" style="display: none">Schedule of Stock Compensation Expenses</span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; padding-bottom: 1pt; font-weight: bold">(in thousands)</td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260401__20260630_zUqMX5bv5Lcd" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2026</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250401__20250630_zVPiOiJpE1od" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2025</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--ShareBasedCompensation_pn3n3_hcustom--IncomeLocationBalanceAxis__custom--SellingGeneralAndAdministrativeMember_z9GM3blhM7x1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Selling, general and administrative</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">527</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">482</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--ShareBasedCompensation_pn3n3_hcustom--IncomeLocationBalanceAxis__custom--ResearchAndDevelopmentMember_z3xVOVSVkvH" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">176</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ShareBasedCompensation_pn3n3_hcustom--IncomeLocationBalanceAxis__custom--CostOfGoodsAndServicesSoldMember_z05Rvt72L1Jj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Cost of goods sold</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">52</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">15</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--ShareBasedCompensation_pn3n3_zkwwdOjt5H7l" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total stock based compensation expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">755</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">505</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; padding-bottom: 1pt; font-weight: bold">(in thousands)</td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20260101__20260630_zCuBq179Kexb" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2026</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20250101__20250630_z9cPzObi7fw3" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2025</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--ShareBasedCompensation_pn3n3_hcustom--IncomeLocationBalanceAxis__custom--SellingGeneralAndAdministrativeMember_zrbjPMPpqpIf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Selling, general and administrative</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,512</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">982</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--ShareBasedCompensation_pn3n3_hcustom--IncomeLocationBalanceAxis__custom--ResearchAndDevelopmentMember_zmQxwlPGDrLd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">184</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--ShareBasedCompensation_pn3n3_hcustom--IncomeLocationBalanceAxis__custom--CostOfGoodsAndServicesSoldMember_zPBRvArrt7z6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Cost of goods sold</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">95</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">32</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--ShareBasedCompensation_pn3n3_z1tXDazAi0i7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total stock based compensation expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,791</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,045</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A5_zr3vRWqnnjEe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>ELECTROCORE, INC. AND SUBSIDIARIES</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Notes to Condensed Consolidated Financial Statements (unaudited)</b></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89E_eus-gaap--ScheduleOfShareBasedCompensationActivityTableTextBlock_zIL8uek70ZJ9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents a summary of stock option award activity during the three and six months ended June 30, 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BD_zalevOmZ9Yx6" style="display: none">Schedule of Outstanding Stock Options</span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Options (in thousands)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Remaining Contractual Term (Years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Aggregate Intrinsic Value (in thousands)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%">Outstanding, January 1, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pn3n3_c20260101__20260630_zzEcZCMDPV3b" style="width: 12%; text-align: right" title="Number of Options, Outstanding, Beginning">518</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20260101__20260630_zHNy4mOvIIA5" style="width: 12%; text-align: right" title="Weighted Average Exercise Price, Outstanding, Beginning">32.56</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_90E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250101__20251231_zxlehvKsey9l" title="Weighted Average Remaining Contractual Term, Outstanding">5.9</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pn3n3_c20260101__20260630_zTmQl4lqSNsh" style="width: 12%; text-align: right" title="Aggregate Intrinsic Value, Outstanding, Beginning">1</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pn3n3_c20260101__20260630_z8Pa28xUEyVk" style="text-align: right" title="Number of Options, Outstanding, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1185">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pn3n3_di_c20260101__20260630_zBDmYq82c5M6" style="text-align: right" title="Number of Options, Exercised">(147</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20260101__20260630_zzlxgNnm1A64" style="text-align: right" title="Weighted Average Exercise Price, Exercised">5.61</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Cancelled</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pn3n3_di_c20260101__20260630_zmbVzdJxPwOh" style="text-align: right" title="Number of Options, Cancelled">(2</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20260101__20260630_zvEkcoz3OYa3" style="text-align: right" title="Weighted Average Exercise Price, Cancelled">40.22</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_pn3n3_di_c20260101__20260630_z2oVNIhMhb9d" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options, Expired"><span style="-sec-ix-hidden: xdx2ixbrl1195">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Outstanding, June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pn3n3_c20260101__20260630_ze5uzz7cHy1l" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options, Outstanding, Ending">369</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20260101__20260630_zvQeoPyaHI81" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price, Outstanding, Ending">43.28</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260630_zWS1rXxrxP35" title="Weighted Average Remaining Contractual Term, Outstanding">5.3</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pn3n3_c20260101__20260630_zJ2vD4NHJGch" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate Intrinsic Value, Outstanding, Ending">603</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Exercisable, June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_pn3n3_c20260630_zgJSZXgv51tb" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options, Exercisable">327</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_pid_c20260630_zgtnFGXO2Edf" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price, Exercisable">48.21</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20260101__20260630_ztxA41WJQug" title="Weighted Average Remaining Contractual Term, Exercisable">5.0</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iI_pn3n3_c20260630_z6a4Cl14Slmb" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate Intrinsic Value, Exercisable">430</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A7_z3sBgmEeo4Fa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The intrinsic value is calculated as the difference between the fair market value at June 30, 2026 and the exercise price per share of the stock option. The options granted to employees generally vest over a three-year period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89B_eus-gaap--ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock_zBtziBTyxWbk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table provides additional information about stock options that are outstanding and exercisable at June 30, 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B3_ziS9GAeRiBe2" style="display: none">Schedule of Stock Options Outstanding and Exercisable</span></span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Exercise Price</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Options Outstanding (in thousands)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Options Outstanding Weighted Average Remaining Contractual Life (Years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Options Exercisable (in thousands)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 34%; text-align: center">$<span id="xdx_909_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit_pid_c20260101__20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeOneMember_zWfieRQt0OQc" title="Exercise Price">4.05</span> - $<span id="xdx_906_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit_pid_c20260101__20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeOneMember_zG3ik68KsaHl" title="Exercise Price">4.85</span></td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_pn3n3_c20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeOneMember_zdnYJ9lOFU0b" title="Options Outstanding">131</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: center"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeOneMember_zYE0vnyYCR58" title="Options Outstanding Weighted Average Remaining Contractual Life (Years)">7.07</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: center"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_pn3n3_c20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeOneMember_z0nVVC52PNE9" title="Options Exercisable">89</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">$<span id="xdx_907_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit_pid_c20260101__20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeTwoMember_z8o7muvlLxF2" title="Exercise Price">4.86</span> - $<span id="xdx_90F_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit_pid_c20260101__20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeTwoMember_z1r3aG86wuWj" title="Exercise Price">12.98</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_pn3n3_c20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeTwoMember_zjSPuvK1JMGd" title="Options Outstanding">84</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeTwoMember_zeA6CYS9noEl" title="Options Outstanding Weighted Average Remaining Contractual Life (Years)">5.97</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_pn3n3_c20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeTwoMember_zUp2yKWu0xp3" title="Options Exercisable">84</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">$<span id="xdx_901_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit_pid_c20260101__20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeThreeMember_zMiVY17tJKli" title="Exercise price, lower range limit">12.99</span> - $<span id="xdx_907_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit_pid_c20260101__20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeThreeMember_zehkQqLqSkYk" title="Exercise price, upper range limit">225.00</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_pn3n3_c20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeThreeMember_zjvPTKp7ywXk" title="Options outstanding">154</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeThreeMember_zFP7GaBBDmjh" title="Options outstanding weighted average remaining contractual life (Years)">3.34</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"><span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_pn3n3_c20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeThreeMember_znhgRx8FWPa7" title="Options exercisable">154</span></td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A3_zns9wIx19dy5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_eus-gaap--ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock_zbqWmByDpS4d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents a summary of restricted and deferred stock unit (“Unit” or “Units”) activity during the three and six months ended June 30, 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B1_zZea3G90HSsc" style="display: none">Schedule of Restricted and Deferred Stock Unit</span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Shares (in thousands)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Grant Date Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Nonvested, January 1, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pn3n3_c20260101__20260630__us-gaap--AwardTypeAxis__custom--RestrictedStockAndDeferredStockMember_z4JxGUnk2nI9" style="width: 16%; text-align: right" title="Number of Shares Nonvested Beginning">575</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20260101__20260630__us-gaap--AwardTypeAxis__custom--RestrictedStockAndDeferredStockMember_zwPpexO8eNJf" style="width: 16%; text-align: right" title="Weighted Average Grant Date Fair Value - Beginning">7.73</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pn3n3_c20260101__20260630__us-gaap--AwardTypeAxis__custom--RestrictedStockAndDeferredStockMember_zA0xAR3emcWf" style="text-align: right" title="Number of Shares Nonvested Granted">381</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20260101__20260630__us-gaap--AwardTypeAxis__custom--RestrictedStockAndDeferredStockMember_z66kGjgV79Ad" style="text-align: right" title="Weighted Average Grant Date Fair Value - Granted">7.17</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pn3n3_di_c20260101__20260630__us-gaap--AwardTypeAxis__custom--RestrictedStockAndDeferredStockMember_z3JKTsmEsuT1" style="text-align: right" title="Number of Shares Nonvested Vested">(217</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20260101__20260630__us-gaap--AwardTypeAxis__custom--RestrictedStockAndDeferredStockMember_zNxgtlUYRnT9" style="text-align: right" title="Weighted Average Grant Date Fair Value - Vested">7.18</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Cancelled</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pn3n3_di_c20260101__20260630__us-gaap--AwardTypeAxis__custom--RestrictedStockAndDeferredStockMember_zbVdh83Az4ke" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Shares Nonvested Cancelled">(39</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20260101__20260630__us-gaap--AwardTypeAxis__custom--RestrictedStockAndDeferredStockMember_z2JoSaeszCZc" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value - Cancelled">9.46</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Nonvested, June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pn3n3_c20260101__20260630__us-gaap--AwardTypeAxis__custom--RestrictedStockAndDeferredStockMember_zmnKEPplQUR6" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Shares Nonvested Ending">700</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20260101__20260630__us-gaap--AwardTypeAxis__custom--RestrictedStockAndDeferredStockMember_zMZHgx3Iteu3" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Grant Date Fair Value - Ending">7.50</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AA_zazt3ldJnp95" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In general, Units granted to employees vest over </span><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 9pt"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dtY_c20260101__20260630__us-gaap--AwardTypeAxis__custom--RestrictedStockAndDeferredStockMember__srt--RangeAxis__srt--MinimumMember_zSFx4BUnvXe3">2</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">two to </span><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 9pt"><span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dtY_c20260101__20260630__us-gaap--AwardTypeAxis__custom--RestrictedStockAndDeferredStockMember__srt--RangeAxis__srt--MaximumMember_zYhjWbnnz0Ug" title="Share based compensation contractual life">4</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">four-year periods. The Company granted <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pn3d_c20260101__20260630_zOngIRhhxDih" title="Number of shares granted">75,000</span> RSUs during the six months ended June 30, 2026 that will vest on or before January 1, 2027, contingent on each recipient’s continued employment through such date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Immediately following the Company’s annual meeting of stockholders, the Company generally grants each non-employee director an equity award that vests over a <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dtM_c20260101__20260630__srt--TitleOfIndividualAxis__custom--NonEmployeeDirectorMember_zHH2rCuPLN3d" title="Vesting period">12</span>-month period. Upon a non-employee director’s initial appointment or election to the board of directors, the Company grants such non-employee director an equity award subject to vesting over a <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1_dtM_c20260101__20260630__srt--TitleOfIndividualAxis__custom--NonEmployeeDirectorMember_z23oxlbh4I1l" title="Vesting service period">36</span>-month period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Valuation Information for Stock-Based Compensation</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company did not grant any stock options during the three and six months ended June 30, 2026 or the year ended December 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>ELECTROCORE, INC. AND SUBSIDIARIES</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Notes to Condensed Consolidated Financial Statements (unaudited)</b></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Modification</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 17, 2026, Daniel S. Goldberger, the Company’s former Chief Executive Officer, notified the Company of his intention to retire as Chief Executive Officer effective April 1, 2026 (the “Separation Date”). Mr. Goldberger also resigned as a member of the Company’s Board effective March 17, 2026. Pursuant to and subject to the terms and conditions of Mr. Goldberger’s separation agreement effective as of March 17, 2026 (the “Goldberger Separation Agreement”), <span id="xdx_903_ecustom--StockModifiedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_pid_c20260317__20260317__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_z7FEX2IVxpmj" title="Number of restricted stock units modified">62,937</span> of Mr. Goldberger’s outstanding restricted stock units were modified to either vest on April 1, 2026 or vest during a twelve-month consulting period following April 1, 2026, which would otherwise have been forfeited. The service period required for vesting during the consulting period is considered substantially less than the service period prior to retirement. As a result, the Company recorded incremental stock compensation expense of $<span id="xdx_906_ecustom--IncrementalStockCompensationExpense_pn5n6_c20260317__20260317_zGsLsLtbtake" title="Incremental stock compensation expense">0.5</span> million due to the acceleration in vesting.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> 412000 P10Y 2800000 P1Y9M18D <p id="xdx_893_eus-gaap--ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_zlbmT4RMzgi8" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BF_zMXA7EtEH1ye" style="display: none">Schedule of Stock Compensation Expenses</span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; padding-bottom: 1pt; font-weight: bold">(in thousands)</td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260401__20260630_zUqMX5bv5Lcd" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2026</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250401__20250630_zVPiOiJpE1od" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2025</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--ShareBasedCompensation_pn3n3_hcustom--IncomeLocationBalanceAxis__custom--SellingGeneralAndAdministrativeMember_z9GM3blhM7x1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Selling, general and administrative</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">527</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">482</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--ShareBasedCompensation_pn3n3_hcustom--IncomeLocationBalanceAxis__custom--ResearchAndDevelopmentMember_z3xVOVSVkvH" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">176</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ShareBasedCompensation_pn3n3_hcustom--IncomeLocationBalanceAxis__custom--CostOfGoodsAndServicesSoldMember_z05Rvt72L1Jj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Cost of goods sold</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">52</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">15</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--ShareBasedCompensation_pn3n3_zkwwdOjt5H7l" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total stock based compensation expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">755</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">505</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; padding-bottom: 1pt; font-weight: bold">(in thousands)</td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20260101__20260630_zCuBq179Kexb" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2026</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20250101__20250630_z9cPzObi7fw3" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2025</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--ShareBasedCompensation_pn3n3_hcustom--IncomeLocationBalanceAxis__custom--SellingGeneralAndAdministrativeMember_zrbjPMPpqpIf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Selling, general and administrative</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,512</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">982</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--ShareBasedCompensation_pn3n3_hcustom--IncomeLocationBalanceAxis__custom--ResearchAndDevelopmentMember_zmQxwlPGDrLd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">184</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--ShareBasedCompensation_pn3n3_hcustom--IncomeLocationBalanceAxis__custom--CostOfGoodsAndServicesSoldMember_zPBRvArrt7z6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Cost of goods sold</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">95</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">32</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--ShareBasedCompensation_pn3n3_z1tXDazAi0i7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total stock based compensation expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,791</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,045</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 527000 482000 176000 8000 52000 15000 755000 505000 1512000 982000 184000 31000 95000 32000 1791000 1045000 <p id="xdx_89E_eus-gaap--ScheduleOfShareBasedCompensationActivityTableTextBlock_zIL8uek70ZJ9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents a summary of stock option award activity during the three and six months ended June 30, 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BD_zalevOmZ9Yx6" style="display: none">Schedule of Outstanding Stock Options</span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Options (in thousands)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Remaining Contractual Term (Years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Aggregate Intrinsic Value (in thousands)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%">Outstanding, January 1, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pn3n3_c20260101__20260630_zzEcZCMDPV3b" style="width: 12%; text-align: right" title="Number of Options, Outstanding, Beginning">518</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20260101__20260630_zHNy4mOvIIA5" style="width: 12%; text-align: right" title="Weighted Average Exercise Price, Outstanding, Beginning">32.56</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_90E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250101__20251231_zxlehvKsey9l" title="Weighted Average Remaining Contractual Term, Outstanding">5.9</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pn3n3_c20260101__20260630_zTmQl4lqSNsh" style="width: 12%; text-align: right" title="Aggregate Intrinsic Value, Outstanding, Beginning">1</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pn3n3_c20260101__20260630_z8Pa28xUEyVk" style="text-align: right" title="Number of Options, Outstanding, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1185">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pn3n3_di_c20260101__20260630_zBDmYq82c5M6" style="text-align: right" title="Number of Options, Exercised">(147</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20260101__20260630_zzlxgNnm1A64" style="text-align: right" title="Weighted Average Exercise Price, Exercised">5.61</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Cancelled</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pn3n3_di_c20260101__20260630_zmbVzdJxPwOh" style="text-align: right" title="Number of Options, Cancelled">(2</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20260101__20260630_zvEkcoz3OYa3" style="text-align: right" title="Weighted Average Exercise Price, Cancelled">40.22</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_pn3n3_di_c20260101__20260630_z2oVNIhMhb9d" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options, Expired"><span style="-sec-ix-hidden: xdx2ixbrl1195">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Outstanding, June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pn3n3_c20260101__20260630_ze5uzz7cHy1l" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options, Outstanding, Ending">369</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20260101__20260630_zvQeoPyaHI81" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price, Outstanding, Ending">43.28</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260630_zWS1rXxrxP35" title="Weighted Average Remaining Contractual Term, Outstanding">5.3</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pn3n3_c20260101__20260630_zJ2vD4NHJGch" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate Intrinsic Value, Outstanding, Ending">603</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Exercisable, June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_pn3n3_c20260630_zgJSZXgv51tb" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options, Exercisable">327</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_pid_c20260630_zgtnFGXO2Edf" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price, Exercisable">48.21</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20260101__20260630_ztxA41WJQug" title="Weighted Average Remaining Contractual Term, Exercisable">5.0</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iI_pn3n3_c20260630_z6a4Cl14Slmb" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate Intrinsic Value, Exercisable">430</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 518000 32.56 P5Y10M24D 1000 147000 5.61 2000 40.22 369000 43.28 P5Y3M18D 603000 327000 48.21 P5Y 430000 <p id="xdx_89B_eus-gaap--ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock_zBtziBTyxWbk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table provides additional information about stock options that are outstanding and exercisable at June 30, 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B3_ziS9GAeRiBe2" style="display: none">Schedule of Stock Options Outstanding and Exercisable</span></span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Exercise Price</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Options Outstanding (in thousands)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Options Outstanding Weighted Average Remaining Contractual Life (Years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Options Exercisable (in thousands)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 34%; text-align: center">$<span id="xdx_909_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit_pid_c20260101__20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeOneMember_zWfieRQt0OQc" title="Exercise Price">4.05</span> - $<span id="xdx_906_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit_pid_c20260101__20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeOneMember_zG3ik68KsaHl" title="Exercise Price">4.85</span></td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_pn3n3_c20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeOneMember_zdnYJ9lOFU0b" title="Options Outstanding">131</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: center"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeOneMember_zYE0vnyYCR58" title="Options Outstanding Weighted Average Remaining Contractual Life (Years)">7.07</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: center"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_pn3n3_c20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeOneMember_z0nVVC52PNE9" title="Options Exercisable">89</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">$<span id="xdx_907_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit_pid_c20260101__20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeTwoMember_z8o7muvlLxF2" title="Exercise Price">4.86</span> - $<span id="xdx_90F_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit_pid_c20260101__20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeTwoMember_z1r3aG86wuWj" title="Exercise Price">12.98</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_pn3n3_c20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeTwoMember_zjSPuvK1JMGd" title="Options Outstanding">84</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeTwoMember_zeA6CYS9noEl" title="Options Outstanding Weighted Average Remaining Contractual Life (Years)">5.97</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_pn3n3_c20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeTwoMember_zUp2yKWu0xp3" title="Options Exercisable">84</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">$<span id="xdx_901_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit_pid_c20260101__20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeThreeMember_zMiVY17tJKli" title="Exercise price, lower range limit">12.99</span> - $<span id="xdx_907_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit_pid_c20260101__20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeThreeMember_zehkQqLqSkYk" title="Exercise price, upper range limit">225.00</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_pn3n3_c20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeThreeMember_zjvPTKp7ywXk" title="Options outstanding">154</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeThreeMember_zFP7GaBBDmjh" title="Options outstanding weighted average remaining contractual life (Years)">3.34</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"><span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_pn3n3_c20260630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceRangeThreeMember_znhgRx8FWPa7" title="Options exercisable">154</span></td><td style="text-align: left"> </td></tr> </table> 4.05 4.85 131000 P7Y25D 89000 4.86 12.98 84000 P5Y11M19D 84000 12.99 225.00 154000 P3Y4M2D 154000 <p id="xdx_89A_eus-gaap--ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock_zbqWmByDpS4d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents a summary of restricted and deferred stock unit (“Unit” or “Units”) activity during the three and six months ended June 30, 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B1_zZea3G90HSsc" style="display: none">Schedule of Restricted and Deferred Stock Unit</span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Shares (in thousands)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Grant Date Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Nonvested, January 1, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pn3n3_c20260101__20260630__us-gaap--AwardTypeAxis__custom--RestrictedStockAndDeferredStockMember_z4JxGUnk2nI9" style="width: 16%; text-align: right" title="Number of Shares Nonvested Beginning">575</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20260101__20260630__us-gaap--AwardTypeAxis__custom--RestrictedStockAndDeferredStockMember_zwPpexO8eNJf" style="width: 16%; text-align: right" title="Weighted Average Grant Date Fair Value - Beginning">7.73</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pn3n3_c20260101__20260630__us-gaap--AwardTypeAxis__custom--RestrictedStockAndDeferredStockMember_zA0xAR3emcWf" style="text-align: right" title="Number of Shares Nonvested Granted">381</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20260101__20260630__us-gaap--AwardTypeAxis__custom--RestrictedStockAndDeferredStockMember_z66kGjgV79Ad" style="text-align: right" title="Weighted Average Grant Date Fair Value - Granted">7.17</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pn3n3_di_c20260101__20260630__us-gaap--AwardTypeAxis__custom--RestrictedStockAndDeferredStockMember_z3JKTsmEsuT1" style="text-align: right" title="Number of Shares Nonvested Vested">(217</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20260101__20260630__us-gaap--AwardTypeAxis__custom--RestrictedStockAndDeferredStockMember_zNxgtlUYRnT9" style="text-align: right" title="Weighted Average Grant Date Fair Value - Vested">7.18</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Cancelled</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pn3n3_di_c20260101__20260630__us-gaap--AwardTypeAxis__custom--RestrictedStockAndDeferredStockMember_zbVdh83Az4ke" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Shares Nonvested Cancelled">(39</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20260101__20260630__us-gaap--AwardTypeAxis__custom--RestrictedStockAndDeferredStockMember_z2JoSaeszCZc" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value - Cancelled">9.46</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Nonvested, June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pn3n3_c20260101__20260630__us-gaap--AwardTypeAxis__custom--RestrictedStockAndDeferredStockMember_zmnKEPplQUR6" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Shares Nonvested Ending">700</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20260101__20260630__us-gaap--AwardTypeAxis__custom--RestrictedStockAndDeferredStockMember_zMZHgx3Iteu3" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Grant Date Fair Value - Ending">7.50</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 575000 7.73 381000 7.17 217000 7.18 39000 9.46 700000 7.50 P2Y P4Y 75000 P12M P36M 62937 500000 <p id="xdx_80D_eus-gaap--SegmentReportingDisclosureTextBlock_ziWyjvgStO3e" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 14. <span id="xdx_826_zHiRajH03uF5">Segment Reporting</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company views its operations and manages its business as <span id="xdx_906_eus-gaap--NumberOfReportableSegments_dc_uSegment_c20260101__20260630_z5jwvl5zhnF1" title="Number of reportable segments">one</span> operating segment: Bioelectronic Innovations. Our CODM is our Interim President and Chief Financial Officer. The CODM uses loss from operations, as reported on our Consolidated Statements of Operations, including the breakdown of expenses presented below, in evaluating the performance of the Bioelectronic Innovations segment and in determining how to allocate resources to the Company as a whole. The CODM does not review assets in evaluating the results of the Bioelectronic Innovations segment, and therefore, such information is not presented below.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_897_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zAAKqp2SQtJ9" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table provides the GAAP operating financial results of the Bioelectronic Innovations segment:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BA_zyeMDDr6chyb" style="display: none">Schedule of Operating Financial Segment</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20260401__20260630_zS9AzGYHcfU5" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2026</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250401__20250630_z4Ku6Dxggu6h" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2025</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260101__20260630_z6yVEfjLL9g" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2026</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250101__20250630_zGWym6pbj9pb" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2025</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended<br/> June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months Ended<br/> June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--BioelectronicInnovationsSegmentMember_zCCOE0f0wFKa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 36%; text-align: left">Net sales <span id="xdx_F4D_zKP2ZNchW8Tc">*</span></td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">9,450</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">7,381</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">19,034</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">14,100</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--CostOfGoodsAndServicesSold_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--BioelectronicInnovationsSegmentMember_zYrmrrCTJXel" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Cost of goods sold</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,273</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">939</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,493</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,952</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--GrossProfit_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--BioelectronicInnovationsSegmentMember_zfSpZ82woIsi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Gross profit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,177</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,442</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,541</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,148</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OperatingExpensesAbstract_iB_hus-gaap--StatementBusinessSegmentsAxis__custom--BioelectronicInnovationsSegmentMember_zuO7Z61mZPq3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--BioelectronicInnovationsSegmentMember_zmqe0lMkgLI2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">818</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">511</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,558</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,153</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--SellingAndMarketingExpense_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--BioelectronicInnovationsSegmentMember_ztJz2f1hiMgi" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Variable sales and marketing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,536</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,626</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,307</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,774</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--FixedSalesAndMarketing_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--BioelectronicInnovationsSegmentMember_z5jnRk5tToSk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Fixed sales and marketing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,767</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,259</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,343</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,663</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--BioelectronicInnovationsSegmentMember_zBKDvSsS3kac" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">General and administrative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,828</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,552</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10,421</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,886</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingExpenses_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--BioelectronicInnovationsSegmentMember_zpd0fVR73xV8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Total operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10,949</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,948</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">24,629</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">19,476</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingIncomeLoss_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--BioelectronicInnovationsSegmentMember_zrWeaT0R54Zf" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Loss from operations</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(2,772</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(3,506</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(8,088</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(7,328</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><br/></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F00_z6fZ33tlzbZ3" style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="width: 5pt"></td><td style="text-align: justify"><span id="xdx_F15_zaLQB34ImSP7" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">See Note 4 Revenue for geographical and disaggregation information.</span></td> </tr></table> <p id="xdx_8AD_zsy8Rp3BXj73" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> 1 <p id="xdx_897_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zAAKqp2SQtJ9" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table provides the GAAP operating financial results of the Bioelectronic Innovations segment:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BA_zyeMDDr6chyb" style="display: none">Schedule of Operating Financial Segment</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20260401__20260630_zS9AzGYHcfU5" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2026</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250401__20250630_z4Ku6Dxggu6h" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2025</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260101__20260630_z6yVEfjLL9g" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2026</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250101__20250630_zGWym6pbj9pb" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2025</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended<br/> June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months Ended<br/> June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--BioelectronicInnovationsSegmentMember_zCCOE0f0wFKa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 36%; text-align: left">Net sales <span id="xdx_F4D_zKP2ZNchW8Tc">*</span></td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">9,450</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">7,381</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">19,034</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">14,100</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--CostOfGoodsAndServicesSold_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--BioelectronicInnovationsSegmentMember_zYrmrrCTJXel" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Cost of goods sold</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,273</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">939</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,493</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,952</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--GrossProfit_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--BioelectronicInnovationsSegmentMember_zfSpZ82woIsi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Gross profit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,177</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,442</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,541</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,148</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OperatingExpensesAbstract_iB_hus-gaap--StatementBusinessSegmentsAxis__custom--BioelectronicInnovationsSegmentMember_zuO7Z61mZPq3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--BioelectronicInnovationsSegmentMember_zmqe0lMkgLI2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">818</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">511</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,558</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,153</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--SellingAndMarketingExpense_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--BioelectronicInnovationsSegmentMember_ztJz2f1hiMgi" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Variable sales and marketing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,536</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,626</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,307</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,774</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--FixedSalesAndMarketing_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--BioelectronicInnovationsSegmentMember_z5jnRk5tToSk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Fixed sales and marketing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,767</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,259</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,343</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,663</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--BioelectronicInnovationsSegmentMember_zBKDvSsS3kac" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">General and administrative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,828</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,552</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10,421</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,886</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingExpenses_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--BioelectronicInnovationsSegmentMember_zpd0fVR73xV8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Total operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10,949</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,948</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">24,629</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">19,476</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingIncomeLoss_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--BioelectronicInnovationsSegmentMember_zrWeaT0R54Zf" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Loss from operations</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(2,772</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(3,506</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(8,088</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(7,328</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><br/></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F00_z6fZ33tlzbZ3" style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="width: 5pt"></td><td style="text-align: justify"><span id="xdx_F15_zaLQB34ImSP7" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">See Note 4 Revenue for geographical and disaggregation information.</span></td> </tr></table> 9450000 7381000 19034000 14100000 1273000 939000 2493000 1952000 8177000 6442000 16541000 12148000 818000 511000 1558000 1153000 3536000 2626000 7307000 4774000 2767000 2259000 5343000 4663000 3828000 4552000 10421000 8886000 10949000 9948000 24629000 19476000 -2772000 -3506000 -8088000 -7328000 <p id="xdx_805_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zIuhDI6fe06l" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 15. <span id="xdx_82A_zOf57gtePRC9">Commitments and Contingencies</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company may be a party to various legal proceedings and claims arising out of the ordinary course of its business. Although the final results of all such matters and claims cannot be predicted with certainty, the Company currently believes that there are no current proceedings or claims pending against it the ultimate resolution of which would have a material adverse effect on its financial condition or results of operations. However, should the Company fail to prevail in any legal matter, including the Pulsetto litigation referenced below, or should several legal matters be resolved against the Company in the same reporting period, such matters could have a material adverse effect on the Company’s operating results and cash flows for that particular period. In all cases, at each reporting period, the Company evaluates whether or not a potential loss amount or a potential range of loss is probable and reasonably estimable under <i>ASC 450</i>, “Contingencies.” Legal costs are expensed as incurred.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Legal Proceedings </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">UAB Pulsetto v. electroCore, Inc.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 11, 2025, UAB Pulsetto (“Pulsetto”) filed a declaratory judgment action against the Company in the United States District Court for the District of New Jersey, captioned <i>UAB Pulsetto v. electroCore, Inc., Civ. No. 25-10036 (D.N.J.), </i>asserting that its non-invasive vagus nerve stimulation product does not infringe the Company’s U.S. Patent No. 11,446,491 (the “491 Patent”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>ELECTROCORE, INC. AND SUBSIDIARIES</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Notes to Condensed Consolidated Financial Statements (unaudited)</b></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 16, 2025, the Company filed a responsive pleading, answering the complaint and asserting counterclaims, that Pulsetto’s non-invasive vagus nerve stimulation product infringes the ‘491 Patent, as well as the Company’s U.S. Patent Nos. 8,948,873, 9,339,653, 10,874,857, 8,843,210, 9,242,092, 11,623,078, and 10,441,780, as well as claims that Pulsetto’s commercial conduct has infringed and continues to infringe the Company’s Truvaga® and gammaCore® trademarks, and committed acts of false advertising and unfair competition in violation of state and federal law. On September 5, 2025, Pulsetto requested leave to file a motion to dismiss the Company’s counterclaims for lack or jurisdiction and/or insufficient pleadings. The Company has opposed that request, which has not yet been considered by the trial judge. On September 9, 2025, the court approved a schedule for discovery, and certain proceedings, filings, submissions, motions, reports and conferences. The parties have exchanged initial requests for the production of documents relevant to the dispute and have proceeded with exchanging their respective infringement and invalidity contentions, as the case may be. Pulsetto has also moved to compel the Company to provide certain discovery information related to potential infringement damages, and the Company has opposed that motion, which has not yet been considered by the trial judge. The parties are still in the early stages of discovery. The parties held an in-person settlement conference with a Magistrate Judge on March 4, 2026. The parties were ordered to engage in private mediation, all proceedings in the lawsuit were stayed until June 5, 2026, and the two pending motions before the trial judge have been dismissed without prejudice (subject to being refiled at a later time), while the parties proceed with court ordered private mediation. The mediation was adjourned and rescheduled for September 10, 2026, and we anticipate the case will remain stayed at least until September 10, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company believes that Pulsetto’s claim is without merit and intends to defend vigorously against it and to pursue vigorously the Company’s patent and non-patent counterclaims against Pulsetto. The Company expenses associated legal fees in the period they are incurred, and in light of, among other things, the preliminary stage of the litigation, the Company is unable to determine the reasonable probability of loss or a range of potential loss or gain or a range of potential gain. Accordingly, the Company has not established an accrual for potential losses or gains, if any, that could result from any unfavorable or favorable outcome, and there can be no assurance that these litigation matters will not result in substantial litigation costs and/or judgments or settlements that could adversely affect the Company’s financial condition.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Former CEO Retirement</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to and subject to the terms and conditions of the Goldberger Separation Agreement, and in accordance with our Executive Severance Policy, he will receive a cash severance payment of $<span id="xdx_905_eus-gaap--SupplementalUnemploymentBenefitsSeveranceBenefits_iI_c20260630_zxEpdc4vJI44" title="Severance liability">1,200,018</span>, payable in substantially equal installments over the 12-month period commencing on the Company’s first regular payroll date following the Separation Date. The Company recorded a liability for the severance amount upon the execution of the Goldberger Separation Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Purchase Commitments</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company enters into contracts in the normal course of business with contract research organizations for its clinical trials, contract manufacturing organizations for the manufacture and supply of its clinical and commercial product needs and other vendors for other research and development and commercial activities, as well as services and products for operating purposes. The Company’s agreements generally provide for termination with notice. Such agreements that are cancelable contracts are not included as purchase commitments. The Company has included as purchase obligations its commitments under agreements to the extent they are quantifiable and are not cancelable. The Company has no material purchase obligations as of June 30, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>CVR Agreement </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In conjunction with the NURO acquisition on May 1, 2025, the Company entered into a contingent value rights agreement (the “CVR Agreement”) with the former shareholders of NURO which, among other things, entitles the former shareholders to <span id="xdx_907_eus-gaap--OtherCommitmentsDescription_c20250501__20250501__us-gaap--TypeOfArrangementAxis__custom--CVRAgreementMember_zU4LovGuibN2" title="Description related to acquisition agreement">(1) an amount equal to $125,000 less any funds used by the Company as of July 1, 2025 out of a reserve of $250,000 for payment of potential expenses of the Company that were reserved against NURO’s net cash balance; (2) the balance of the funds remaining in the reserve as of May 1, 2027; and (3) earnout payments after the first and second anniversaries of the acquisition based on the Company’s sale of Quell products. In October 2025, the Company distributed approximately $243,000 under the CVR Agreement. As of June 30, 2026 and December 31, 2025, the Company has recorded a liability of $563,000 and $604,000, respectively, for expected payments under the CVR Agreement.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 1200018 (1) an amount equal to $125,000 less any funds used by the Company as of July 1, 2025 out of a reserve of $250,000 for payment of potential expenses of the Company that were reserved against NURO’s net cash balance; (2) the balance of the funds remaining in the reserve as of May 1, 2027; and (3) earnout payments after the first and second anniversaries of the acquisition based on the Company’s sale of Quell products. In October 2025, the Company distributed approximately $243,000 under the CVR Agreement. As of June 30, 2026 and December 31, 2025, the Company has recorded a liability of $563,000 and $604,000, respectively, for expected payments under the CVR Agreement. <p id="xdx_808_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_zjGoGzktglM9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 16. <span id="xdx_829_zIZwXNUcQn5j">Related Party Transactions</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In 2023, an executive of the Company co-founded the Vagus Nerve Society, an academic society dedicated to the ongoing education and training of scientists and clinicians and the power of the vagus nerve and its application in a broad spectrum of health-related conditions. During the three and six months ended June 30, 2026, the Company incurred aggregate expenses of $<span id="xdx_903_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_c20260401__20260630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--VagusNerveSocietyMember_zrQxhnfFlPyc" title="Aggregate expenses">75,000</span> and $<span id="xdx_90D_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_c20260101__20260630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--VagusNerveSocietyMember_zoygHMuqsTi9" title="Aggregate expenses">150,000</span>, respectively, for unrestricted and directed educational grants to the Vagus Nerve Society.</span></p> 75000 150000 false false false false A total of 883,433pre-funded warrants are excluded from this table. See Note 4 Revenue for geographical and disaggregation information.