XML 72 R58.htm IDEA: XBRL DOCUMENT v3.23.1
Long-Term Debt - Additional Information (Details) - USD ($)
1 Months Ended 12 Months Ended
May 26, 2022
May 31, 2019
Dec. 31, 2022
Dec. 31, 2021
Debt Instrument [Line Items]        
Outstanding principal amount of term loan     $ 121,875,000  
Amortization expense related to debt issuance costs     589,000 $ 222,000
Loss from extinguishment of debt     $ (445,000)  
Line of Credit | Bank of America Term Loan        
Debt Instrument [Line Items]        
Term loan face amount   $ 50,000,000    
Debt instrument interest rate, terms     LIBOR + 300 Basis Points (BPS)  
Outstanding principal amount of term loan     $ 0 37,500,000
Line of credit facility, maximum borrowing capacity     $ 10,000,000  
Line of credit facility maturity month and year     2024-05  
Line of credit drawn     $ 0 0
Interest expense   $ 1,108,000    
Amortization expense related to debt issuance costs     91,000 222,000
Loss from extinguishment of debt     $ (445,000)  
Line of Credit | Truist Term Loan        
Debt Instrument [Line Items]        
Term loan face amount $ 125,000,000      
Interest rate     6.92%  
Periodic payments     $ 1,563,000  
Frequency of periodic payments     quarterly  
Outstanding principal amount of term loan     $ 121,875,000  
Term loan maturity date     May 26, 2027  
Proceeds from line of credit     $ 0  
Covenant description     In addition, the Credit Agreement is subject to (i) a maximum total net leverage ratio and (ii) a minimum fixed charge coverage ratio. The Company must maintain a total net leverage ratio of less than or equal to (i) 4.25:1.00, with respect to the fiscal quarter ending September 30, 2022 through and including the fiscal quarter ending March 31, 2023, (ii) 4.00:1.00, with respect to the fiscal quarter ending June 30, 2023 through and including March 31, 2024, and (iii) 3.75:1.00 thereafter. Beginning with the third fiscal quarter of 2022, the Company must not permit the Consolidated Fixed Charge Coverage Ratio to be less than 1.25:1.00. Both financial covenants are tested quarterly.  
Covenant compliance     The Company was in compliance with all required covenants associated with the Credit Agreement as of December 31, 2022.  
Company incurred lender's fees and related attorney's fees $ 4,036,000      
Amortization expense related to debt issuance costs     $ 498,000  
Line of Credit | Truist Term Loan | Minimum        
Debt Instrument [Line Items]        
Fixed charge coverage ratio     1.25  
Line of Credit | Truist Term Loan | Leverage Ratio with Respect to September 30, 2022 through March 31, 2023 | Maximum        
Debt Instrument [Line Items]        
Net leverage ratio     4.25  
Line of Credit | Truist Term Loan | Leverage Ratio with Respect to June 30, 2023 through March 31, 2024 | Maximum        
Debt Instrument [Line Items]        
Net leverage ratio     4.00  
Line of Credit | Truist Term Loan | Leverage Ratio, Thereafter | Maximum        
Debt Instrument [Line Items]        
Net leverage ratio     3.75  
Line of Credit | Truist Term Loan | SOFR Rate | Minimum        
Debt Instrument [Line Items]        
Debt instrument, applicable margin rate 2.50%      
Line of Credit | Truist Term Loan | SOFR Rate | Maximum        
Debt Instrument [Line Items]        
Debt instrument, applicable margin rate 2.75%      
Line of Credit | Truist Term Loan | Base Rate | Minimum        
Debt Instrument [Line Items]        
Debt instrument, applicable margin rate 1.50%      
Line of Credit | Truist Term Loan | Base Rate | Maximum        
Debt Instrument [Line Items]        
Debt instrument, applicable margin rate 1.75%      
Line of Credit | Bank of America Term Loan and Truist Term Loan        
Debt Instrument [Line Items]        
Amortization expense related to debt issuance costs     $ 589,000 $ 222,000
Revolving Credit Facility | Truist Term Loan        
Debt Instrument [Line Items]        
Line of credit facility, maximum borrowing capacity     $ 50,000,000