| Schedule of Components of Debt |
The following table sets forth the components of debt as of March 31, 2026 and December 31, 2025:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2026 |
|
|
December 31, 2025 |
|
|
|
Principal
Outstanding |
|
|
Unamortized
Discount
and
Issuance Cost |
|
|
Carrying
Amount |
|
|
Principal
Outstanding |
|
|
Unamortized
Discount
and
Issuance Cost |
|
|
Carrying
Amount |
|
2027 Notes |
|
$ |
26,000 |
|
|
$ |
(281 |
) |
|
$ |
25,719 |
|
|
$ |
130,000 |
|
|
$ |
(1,752 |
) |
|
$ |
128,248 |
|
2029 Notes |
|
|
218,500 |
|
|
|
(6,809 |
) |
|
|
211,691 |
|
|
|
218,500 |
|
|
|
(7,223 |
) |
|
|
211,277 |
|
2031 Notes |
|
|
170,500 |
|
|
|
(5,396 |
) |
|
|
165,104 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
CIBC loan, due 2026 |
|
|
777 |
|
|
|
(1 |
) |
|
|
776 |
|
|
|
1,129 |
|
|
|
(3 |
) |
|
|
1,126 |
|
Total term loans |
|
|
415,777 |
|
|
|
(12,487 |
) |
|
|
403,290 |
|
|
|
349,629 |
|
|
|
(8,978 |
) |
|
|
340,651 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revolving line of credit and other |
|
|
11,866 |
|
|
|
(50 |
) |
|
|
11,816 |
|
|
|
12,762 |
|
|
|
(12 |
) |
|
|
12,750 |
|
Total debt |
|
$ |
427,643 |
|
|
$ |
(12,537 |
) |
|
$ |
415,106 |
|
|
$ |
362,391 |
|
|
$ |
(8,990 |
) |
|
$ |
353,401 |
|
The outstanding debt as of March 31, 2026 and December 31, 2025 is classified in the condensed consolidated balance sheets as follows:
|
|
|
|
|
|
|
|
|
|
|
March 31,
2026 |
|
|
December 31,
2025 |
|
Current liabilities - Current debt obligations |
|
$ |
12,290 |
|
|
$ |
13,567 |
|
Noncurrent liabilities - Long-term debt, net of current maturities |
|
|
402,816 |
|
|
|
339,834 |
|
Total debt |
|
$ |
415,106 |
|
|
$ |
353,401 |
|
|
| Schedule of Components of Interest Expense |
The table below sets forth the components of interest expense for the three months ended March 31, 2026 and 2025:
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
March 31, |
|
|
|
2026 |
|
|
2025 |
|
Interest expense on the 2027 Notes |
|
|
|
|
|
|
Stated interest at 4.50% per annum |
|
$ |
1,119 |
|
|
$ |
1,775 |
|
Amortization of discount and issuance cost |
|
|
187 |
|
|
|
261 |
|
Total interest expense related to the 2027 Notes |
|
|
1,306 |
|
|
|
2,036 |
|
Interest expense on the 2029 Notes |
|
|
|
|
|
|
Stated interest at 3.50% per annum |
|
|
1,886 |
|
|
|
1,886 |
|
Amortization of discount and issuance cost |
|
|
414 |
|
|
|
396 |
|
Total interest expense related to the 2029 Notes |
|
|
2,300 |
|
|
|
2,282 |
|
Interest expense on the 2031 Notes |
|
|
|
|
|
|
Stated interest at 4.00% per annum |
|
|
477 |
|
|
|
— |
|
Amortization of discount and issuance cost |
|
|
56 |
|
|
|
— |
|
Total interest expense related to the 2031 Notes |
|
|
533 |
|
|
|
— |
|
Interest expense on other debt obligations: |
|
|
|
|
|
|
Contractual interest |
|
|
191 |
|
|
|
185 |
|
Amortization of discount and issuance cost |
|
|
13 |
|
|
|
13 |
|
Total interest expense related to other debt obligations |
|
|
204 |
|
|
|
198 |
|
|
|
|
|
|
|
|
Total interest expense |
|
$ |
4,343 |
|
|
$ |
4,516 |
|
|