| LONG-TERM DEBT |
NOTE 9. LONG-TERM DEBT Long-term debt as of June 30, 2025 and December 31, 2024, was as follows: | | | | | | | June 30, 2025 | | December 31, 2024 | | | | | | | Revolving credit facility (a) | $ | - | | $ | - | Other debt (b) | | 1,949 | | | 1,888 | Term loan (c) | | - | | | - | | | 1,949 | | | 1,888 | Less current portion | | (1,949) | | | (1,888) | | $ | - | | $ | - |
| (a) | On February 29, 2024, upon the closing of the disposition of the Precision Sport segment, the Company terminated and paid off amounts outstanding under the revolving credit facility, and pursuant to the Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent and the lenders party thereto (the “Restated |
| | Credit Agreement”), in full. The Company paid interest monthly on any borrowings on the Restated Credit Agreement. |
| (b) | On December 5, 2024, pursuant to the RockyMounts Purchase Agreement, Clarus and its wholly-owned subsidiary, Rhino-Rack USA LLC, issued a promissory note in favor of RockyMounts, Inc. in the principal amount of $2,000, payable on December 5, 2025. Imputed interest is included within the principal amount and the fair value of the note was $1,878 on the date of issuance. As of June 30, 2025 and December 31, 2024, the borrowing rate was 6.5%. |
| (c) | On February 29, 2024, upon the closing of the disposition of the Precision Sport segment, the Company terminated and paid off amounts outstanding under the term loan in full. The Company paid interest monthly on any borrowings on the Restated Credit Agreement. |
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