v3.26.1
Debt
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Debt Debt
Debt instruments consist primarily of term notes, revolving lines of credit, and a Receivables Facility as follows (in thousands):
June 30, 2026December 31, 2025
First lien term loan facility outstanding debt$1,374,149 $1,401,246 
Receivables facility outstanding debt100,000 80,000 
Total outstanding debt1,474,149 1,481,246 
Unamortized debt issuance costs(7,408)(8,343)
Current portion of long-term debt(14,194)(14,194)
Total long-term debt, net$1,452,547 $1,458,709 
The maturity of long-term principal payments (excluding debt discount) at June 30, 2026 is as follows (in thousands):
2026$7,097 
202714,194 
202814,194 
20291,438,664 
$1,474,149 
As of June 30, 2026 and December 31, 2025, there is no outstanding balance on our Revolving Credit Facility. The interest rate under the Revolving Credit Facility is 1.50% per annum above the SOFR rate with a minimum base of 0.00%. The SOFR is adjusted each thirty-day period to the thirty-day SOFR rate. At June 30, 2026, the effective interest rate for the Revolving Credit Facility is 5.15%.
On February 23, 2026, we utilized the funds from the most recent amendment on our Receivables Facility (see Note 11) to repay $20.0 million on our First Lien Credit Facility (“February 2026 First Lien Paydown”). As part of the February 2026 First Lien Paydown, we recorded a loss on extinguishment of $0.1 million for the three months ended March 31, 2026. The interest rate under the amended First Lien Credit Facility is 2.00% per annum above the SOFR rate with a minimum base of 0.00%. The SOFR is adjusted each thirty-day period to the thirty-day SOFR rate. Interest under the First Lien Credit Facility is paid monthly in arrears. At June 30, 2026, the effective interest rate for the First Lien Credit Facility is 5.82%.

Principal on the First Lien Credit Facility is payable in 20 equal quarterly installments with the remaining balance to be paid on October 22, 2029. As of June 30, 2026, there are 13 payments remaining. The First Lien Credit Agreement contains certain covenants which, among other things, restrict our ability to incur additional indebtedness. We were in compliance with such debt covenants as of June 30, 2026.
We had unamortized debt issuance costs of $7.4 million and $8.3 million as of June 30, 2026 and December 31, 2025, respectively.
In connection with the Revolving Credit Facility, unamortized debt issuance costs were $1.4 million and $1.7 million as of June 30, 2026 and December 31, 2025, respectively.