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Debt (Tables)
12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Summary of Debt
Debt consisted of the following at December 31:
20242023
Term loan facility$85,000 $141,563 
Revolving credit facility50,500 — 
Unamortized discount and issuance costs— (49)
$135,500 $141,514 
Less: current portion(8,438)(15,313)
Total long-term debt, net of current portion$127,062 $126,201 
Summary of Margin for Borrowings under Revolving Credit Facility
Amounts outstanding under the Credit Facilities and the commitment fee payable in connection with the Credit Facilities accrue interest at a per annum rate equal to (at the Company’s option) the base rate or the Term Secured Overnight Financing Rate ("SOFR"), including a credit spread adjustment, plus a rate which will vary according to the Consolidated Total Leverage Ratio as set forth in the most recent compliance certificate received by the Administrative Agent, as set out in the following table:
Pricing TierConsolidated Total
Leverage Ratio
Commitment FeeLetter of Credit FeeTerm SOFR LoansBase Rate Loans
I
≥ 4.00 to 1.00
0.45%3.25%3.25%2.25%
II
< 4.00 to 1.00 but ≥ 3.50 to 1.00
0.40%3.00%3.00%2.00%
III
< 3.50 to 1.00 but ≥ 3.00 to 1.00
0.35%2.75%2.75%1.75%
IV
< 3.00 to 1.00 but ≥ 2.50 to 1.00
0.30%2.50%2.50%1.50%
V
< 2.50 to 1.00
0.25%2.25%2.25%1.25%