v3.25.4
Derivatives and Hedging (Tables)
12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in the Balance Sheets
The following table presents the fair values of derivative assets and liabilities in the consolidated balance sheets (in thousands):

December 31, 2025
Derivative AssetDerivative Liability
Notional Amount
Fair Value 1
Notional AmountFair Value
Interest rate cap (SOFR-based)
194,190 72 — $— 
Total derivatives$194,190 $72 $— $— 
1 Of this amount, $8 thousand is presented on the balance sheet as Current assets - derivative assets and $64 thousand is Other assets, net.

December 31, 2024
Derivative AssetDerivative Liability
Notional Amount
Fair Value 1
Notional AmountFair Value
Interest rate cap (SOFR-based)
185,145 1,465 — $— 
Total derivatives$185,145 $1,465 $— $— 
1 Of this amount, $1.4 million is presented on the balance sheet as Current assets - derivative assets and $0.1 million is Other assets, net.
Schedule of Derivative Instruments in the Statement of Operations
The following table presents the effect of the derivative instrument on the consolidated statements of operations (in thousands):
Years ended December 31,
20252024
Derivatives not designated as hedges
Interest rate caps
Loss on derivatives not designated as hedges included in interest expense
(1,069)(3,950)