Credit Agreement

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Credit Agreement

Credit Agreement

We have an $80.0 million revolving credit facility (the “Credit Agreement”) secured primarily by our inventory and maturing on October 24, 2027. Availability fluctuates based on a borrowing base calculation reduced by outstanding letters of credit.

At June 30, 2023 and December 31, 2022, there were no outstanding borrowings under the Credit Agreement. The borrowing base was $141.4 million at June 30, 2023 and there were no outstanding letters of credit, accordingly, net availability was $80.0 million.