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Debt (Tables)
12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Debt

Debt at December 31, 2024, consisted of the following (in thousands):

 

 

Principal

 

 

Unamortized Discount

 

 

Net Carrying
Value

 

Term Loan

 

$

65,000

 

 

$

(138

)

 

$

64,862

 

Revolving Loan

 

 

19,297

 

 

 

 

 

 

19,297

 

Total debt

 

 

84,297

 

 

(138

)

 

84,159

 

Less: current portion

 

 

19,297

 

 

 

 

 

 

19,297

 

Non-current portion

 

$

65,000

 

 

$

(138

)

 

$

64,862

 

 

 

 

 

 

 

 

 

 

 

 

Debt at December 31, 2023, consisted of the following (in thousands):

 

 

 

Principal

 

 

Unamortized Discount

 

 

Net Carrying
Value

 

Term Loan

 

$

60,000

 

 

$

(204

)

 

$

59,796

 

Revolving Loan

 

 

20,000

 

 

 

 

 

 

20,000

 

Total debt

 

 

80,000

 

 

 

(204

)

 

 

79,796

 

Less: current portion

 

 

20,000

 

 

 

 

 

 

20,000

 

Non-current portion

 

$

60,000

 

 

$

(204

)

 

$

59,796

 

 

 

 

 

 

 

 

 

 

 

 

Expected Principal, Interest and Fee Payments on Term Loan Credit Agreement

Principal, interest and fee payments on the Term Loan Credit Agreement (as defined below) at December 31, 2024, are expected to be as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31,

 

Principal

 

 

Interest and Fees

 

 

Total

 

2025

 

$

 

 

$

7,581

 

 

$

7,581

 

2026

 

 

24,375

 

 

 

6,630

 

 

 

31,005

 

2027

 

 

32,500

 

 

 

2,998

 

 

 

35,498

 

2028

 

 

8,125

 

 

 

1,459

 

 

 

9,584

 

2029

 

 

 

 

 

 

 

 

 

Total

 

$

65,000

 

 

$

18,668

 

 

$

83,668