Debt (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Long-Term Debt Instruments [Table]

As of June 30, 2025 and December 31, 2024, our debt consisted of the following:


	June 30,			December 31,
	2025			2024
Term loan	$	349,250		$	355,000
Revolving credit facility		25,000			30,000
Other		200			496
Total debt		374,450			385,496
Current portion of long-term debt		(171	)		(424	)
Unamortized debt issuance costs (1)		(3,407	)		(4,257	)
Total long-term debt	$	370,872		$	380,815

(1)

Unamortized debt issuance costs presented as a reduction to total debt are attributable to the Term Loan

Term Loan


	Three Months Ended June 30,						Six Months Ended June 30,
	2025			2024			2025			2024
Debt issuance cost amortization	$	426		$	390		$	852		$	519
Interest expense incurred	$	6,750		$	4,970		$	13,517		$	6,892
Weighted average interest rate		7.65	%		8.42	%		7.69	%		8.43	%

Revolving Credit Facility


							June 30,			December 31,
							2025			2024
Total facility size							$	100,000		$	100,000
Less:
Outstanding balance								25,000			30,000
Letters of credit issued								-			-
Available commitment							$	75,000		$	70,000

Unamortized debt issuance costs							$	910		$	1,139

	Three Months Ended June 30,						Six Months Ended June 30,
	2025			2024			2025			2024
Debt issuance cost amortization	$	113		$	139		$	227		$	204
Interest expense incurred	$	538		$	1,063		$	1,027		$	1,850
Weighted average interest rate		7.68	%		8.41	%		7.74	%		8.43	%

Schedule of Margin Ranges

The applicable margin ranges are:


	Pre-IPO			Post-IPO
Term SOFR applicable margin	3.00% - 4.00%			2.75% - 3.75%
Base Rate applicable margin	2.00% - 3.00%			1.75% - 2.75%
Commitment fees		0.50	%	0.375% - 0.500%

- Definition

Disclosure of information about long-term debt instrument or arrangement.

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+ Details

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

+ Details

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