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Debt (Tables)

12 Months Ended

Dec. 31, 2022

The components of the Company’s debt consist of the following (in thousands):


	December 31, 2022				December 31, 2021
	Amount		Rate	Maturity date	Amount		Rate	Maturity date
Term loan, net	$	—	(1)	10/31/2024	$	5,414	(2)	1/6/2024
Line of credit, net	11,444		(1)	10/31/2024	4,856		(2)	1/6/2024







Total debt	11,444				10,270
Less current portion	—				855
Total long-term debt	$	11,444			$	9,415

(1)Interest at a variable rate of the daily U.S. Federal Funds Rate plus 375 basis points with an interest rate floor of 3.75% per annum.

(2)Interest at a variable rate of LIBOR plus 250 basis points with an interest rate floor of 2.50% per annum.

Future Debt Maturities

Future debt maturities as of December 31, 2022 and for succeeding years are as follows (in thousands):


Year ending December 31:
2023	$	—
2024	$	11,444
2025	$	—
2026	$	—
2027	$	—
Thereafter	$	—
Total	$	11,444

- 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.

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+ Details