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Debt (Tables)
12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Components of Debt

The following table sets forth the components of debt as of December 31, 2025 and 2024:

 

 

December 31,

 

 

 

2025

 

 

2024

 

 

Principal
Outstanding

 

 

Unamortized
Discount
and
Issuance Cost

 

 

Carrying
Amount

 

 

Principal
Outstanding

 

 

Unamortized
Discount
and
Issuance Cost

 

 

Carrying
Amount

 

2027 Notes

 

$

130,000

 

 

$

(1,752

)

 

$

128,248

 

 

$

160,000

 

 

$

(3,262

)

 

$

156,738

 

2029 Notes

 

218,500

 

 

 

(7,223

)

 

 

211,277

 

 

 

218,500

 

 

 

(8,857

)

 

 

209,643

 

CIBC loan, due 2026

 

 

1,129

 

 

 

(3

)

 

 

1,126

 

 

 

2,368

 

 

 

(2

)

 

 

2,366

 

Total term loans

 

 

349,629

 

 

 

(8,978

)

 

 

340,651

 

 

 

380,868

 

 

 

(12,121

)

 

 

368,747

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revolving line of credit

 

 

12,762

 

 

 

(12

)

 

 

12,750

 

 

 

12,583

 

 

 

(13

)

 

 

12,570

 

Total debt

 

$

362,391

 

 

$

(8,990

)

 

$

353,401

 

 

$

393,451

 

 

$

(12,134

)

 

$

381,317

 

 

The outstanding debt as of December 31, 2025 and 2024 is classified in the consolidated balance sheets as follows:

 

 

December 31,

 

 

 

2025

 

 

2024

 

Current liabilities – Current debt obligations

 

$

13,567

 

 

$

12,220

 

Noncurrent liabilities – Long-term debt net of current maturities

 

 

339,834

 

 

 

369,097

 

Total debt

 

$

353,401

 

 

$

381,317

 

Schedule of Components of Interest Expense

The table below sets forth the components of interest expense for the years ended December 31, 2025, 2024 and 2023:

 

 

Year Ended December 31,

 

 

2025

 

 

2024

 

 

2023

 

Interest expense on the 2027 Notes

 

 

 

 

 

 

 

 

 

Stated interest at 4.50% per annum

 

$

6,591

 

 

$

7,220

 

 

$

7,200

 

Amortization of discount and issuance cost

 

 

1,050

 

 

 

1,026

 

 

 

970

 

Total interest expense related to the 2027 Notes

 

 

7,641

 

 

 

8,246

 

 

 

8,170

 

Interest expense on the 2029 Notes

 

 

 

 

 

 

 

 

 

Stated interest at 3.50% per annum

 

 

7,648

 

 

 

524

 

 

 

 

Amortization of discount and issuance cost

 

 

1,634

 

 

 

109

 

 

 

 

Total interest expense related to the 2029 Notes

 

 

9,282

 

 

 

633

 

 

 

 

Interest expense on other debt obligations:

 

 

 

 

 

 

 

 

 

Contractual interest

 

 

669

 

 

 

342

 

 

 

455

 

Amortization of discount and issuance cost

 

 

50

 

 

 

37

 

 

 

25

 

Total interest expense related to other debt obligations

 

 

719

 

 

 

379

 

 

 

480

 

 

 

 

 

 

 

 

 

 

 

Total interest expense

 

$

17,642

 

 

$

9,258

 

 

$

8,650

 

Schedule of Maturities of Long-term Debt

The future maturities of the debt obligations are as follows:

 

2026

 

$

13,891

 

2027

 

 

130,000

 

2028

 

 

 

2029

 

 

218,500

 

2030

 

 

 

Total

 

$

362,391