Accrued Expenses and Other Current Liabilities

9 Months Ended

Sep. 30, 2025

Accrued Expenses and Other Current Liabilities

Note 9. Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities as of September 30, 2025 and December 31, 2024 consisted of the following:

(in thousands)	September 30, 2025		December 31, 2024
Accrued professional fees	$	1,324	$	598
Accrued bonuses and incentive compensation		2,168		2,886
Accrued litigation legal fees		1,155		1,163
Accrued insurance expense		316		205
Accrued research and development expenses		655		655
Accrued vacation and other employee related expenses		1,087		781
Accrued tax expenses		482		382
Accrued purchases		456		33
Accrued acquisition related expenses		733		—
Other		231		261
	$	8,607	$	6,964

Finance and Security Agreement

On July 2, 2024, the Company entered into a Commercial Insurance Premium Finance and Security Agreement (the “2024 Agreement”). The 2024 Agreement provides for a single borrowing of approximately $493,000 with a 10 ten-month term and an annual interest rate of 8.75%. 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 July 2024, the Company began paying monthly installments of approximately $51,000.

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 provides for a single borrowing of approximately $452,000 with10 a ten-month term and an annual interest rate of 6.55%. 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 July 2025, the Company began paying monthly installments of approximately $45,000.

During the three and nine months ended September 30, 2025, the Company recognized $3,300 and $12,800 in aggregate interest expense related to the Company’s finance and security agreements, respectively. During the three and nine months ended September 30, 2024, the Company recognized $5,000 and $13,000 in aggregate interest expense related to the Company’s finance and security agreements, respectively.

ELECTROCORE, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (unaudited)

electroCore, Inc. 10-Q