Debt (Tables)

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Schedule of Outstanding Debt

The Company’s outstanding debt consisted of the following:

(in thousands)	As of September 30, 2024			As of December 31, 2023
	Amount		Rate (3)	Amount		Rate (3)	Maturity Date
Short-term financing:
Revolving Credit Agreement 1	$	100,000	7.20%	$	—	—%	August 30, 2025
Credit Agreement 2	—		—%	50,000		8.71%	March 21, 2025
Shareholder’s Loan Agreement	35,000		9.00%	—		—%	August 31, 2025
$25 Million Loan Agreement	—		—%	25,000		9.44%	May 20, 2025
$50 Million Loan Agreement	—		—%	50,000		9.44%	November 30, 2024
$30 Million Loan Agreement	—		—%	19,820		9.41%	March 31, 2025
Total short-term debt	$	135,000		$	144,820
Long-term debt:
Finance leases and other debt	238		**	399		**	Various
Total long-term debt and finance leases	238			399
Less: Current maturities of long-term debt and finance leases	152			215
Long-term debt	$	86		$	184

1	Unamortized financing costs and deferred fees on the new Revolving Credit Agreement are not presented in the above table as they are classified in Prepaid expenses and other current assets on the Consolidated Balance Sheet. Unamortized debt issuance costs, were $0.6 million as of September 30, 2024.
2	As of December 31, 2023, unamortized financing costs and deferred fees on the Credit Agreement were not presented in the above table as they are classified in Prepaid expenses and other current assets on the Consolidated Balance Sheet. Unamortized debt issuance costs were $0.2 million as of December 31, 2023.
3	Includes the weighted average interest rate.
**	Finance lease obligations are a non-cash financing activity. See Note 8. Leases.