v3.26.1
Debt (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Interest Expense
The following table details our interest expense related to the Notes due 2026 (in thousands):
For the Three Months Ended June 30,For the Six Months Ended June 30,
2026202520262025
Cash coupon$2,383 $4,004 $6,387 $8,085 
Amortization of issuance cost231 362 610 726 
Capitalized interest(44)(39)(94)(95)
Total interest expense$2,570 $4,327 $6,903 $8,716 
The following table details our interest expense related to the Exchangeable Notes (in thousands):
For the Three and Six Months Ended June 30, 2026
Cash coupon$1,006 
Amortization of issuance cost144 
Total interest expense$1,150 
The following table details our interest expense related to the Term Loans (in thousands):
For the Three and Six Months Ended June 30, 2026
Cash coupon$1,656 
Amortization of issuance cost684 
Capitalized interest(31)
Total interest expense$2,309 
Schedule of Carrying Value
The Notes due 2026 matured on May 25, 2026 and were repaid in full. The following table details the carrying value of our Notes due 2026 (in thousands):
December 31, 2025
Principal amount$291,215 
Unamortized issuance cost(613)
Carrying value$290,602 
The following table details the carrying value of our Exchangeable Notes as of June 30, 2026 (in thousands):
June 30, 2026
Principal amount$402,500 
Unamortized issuance cost(11,337)
Carrying value$391,163 
Schedule of Long-Term Debt Instruments The following table summarizes the key terms related to the new term loans and presents the outstanding principal balance and the carrying value of the term loans as of June 30, 2026 (dollar amounts in thousands):
Term LoanClosing DateOriginal PrincipalPrincipal OutstandingNet Carrying ValueInterest RateEffective Interest RateMaturity DatePayment type
Term Loan #1Apr-26$20,000 $19,941 $19,527 9.00%10.18 %Apr-29Principal and interest
Term Loan #2(1)
May-2656,500 56,500 54,951 
SOFR + 5%
9.84 %May-29Interest only
Term Loan #3May-2644,860 44,860 43,884 6.67%7.57 %Jun-31Principal and interest
Term Loan #4(2)
May-2620,000 — — 10.00%— %Oct-26Principal and interest
Term Loan #5Jun-267,300 7,300 7,008 7.50%8.51 %Jul-31Principal and interest
Total$148,660 $128,601 $125,370 
(1)The loan has two, one-year extension options that may extend the maturity through May 2031. SOFR is subject to a floor of 3.75%. The loan also requires the Company to maintain a minimum net worth of $120.0 million and liquid assets with a market value of at least $12.0 million. As of June 30, 2026, the Company was in compliance with these covenants.
(2)In June 2026, we fully repaid the loan prior to maturity and wrote off $0.5 million of related unamortized issuance cost as non-cash interest expense.
Schedule of Principal Payments on Outstanding Indebtedness
The following table summarizes the principal payments on our outstanding indebtedness as of June 30, 2026 (in thousands):
Payments Due
by Year		Amount
2026 (six months ending December 31)$623 
20271,242 
202893,825 
2029478,915 
20301,041 
Thereafter47,955 
Total$623,601