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Don’t over think. You did the right thing and being transparent.
Makes me think they may be waiting for someone else to get back to them first.
Potentially another candidate was my first thought. But agreed with CA1 below. There could be so many reasons OR no reason at all for the silence. Maybe when you have something firm in hand from another company you could call and press them for more of an update?
Being in “late stage interviews” with someone else doesn’t put any pressure on them yet, especially if they have already done a first round with you. Getting an exploding offer does put on the pressure, but only if you are their first choice. Let them know when you get the exploding offer, and what deadline you have to meet.