v3.26.1
Long-Term Debt
 6 Months Ended
Jun. 26, 2026
Debt Disclosure [Abstract]  
Long-Term Debt
Note 8 – Long-Term Debt
Long‑term debt consists of the following:
June 26,
2026		December 26,
2025
Term loan$121,875 $125,000 
Revolving credit facility— — 
Total principal amount of long-term debt121,875 125,000 
Less unamortized debt issuance costs(1,317)(1,472)
Total long-term debt, net120,558 123,528 
Less current portion(6,250)(6,250)
Total long-term debt, less current portion, net$114,308 $117,278 
On September 26, 2025, we entered into an amended and restated credit agreement, which includes a group of financial institutions as direct lenders under the agreement (the "credit agreement"). The credit agreement includes a $125.0 million term loan facility and a $100.0 million revolving credit facility (together, “credit facilities”). The revolving credit facility also contains a $20.0 million letter of credit sub-facility and a $10.0 million swingline sub-facility. As of June 26, 2026, nothing was outstanding under the revolving credit facility. Quarterly term loan principal payments of $1.6 million commenced on December 31, 2025, and the amount of such quarterly term loan payments will increase to $2.3 million on September 30, 2028, and $3.1 million on September 30, 2029. The credit agreement matures on September 26, 2030.
The credit agreement includes debt covenants, which contain certain financial thresholds, and place certain restrictions on the incurrence of debt, investments, and issuance of dividends. We were in compliance as of June 26, 2026.
As of June 26, 2026, interest is charged at either the Base Rate or SOFR (as such terms are defined in the credit agreement) at our option, plus an applicable margin. The Base Rate is equal to the higher of i) the Prime Rate, ii) the Federal Funds Rate plus 0.50%, or iii) SOFR plus 1.00%. The applicable margin on Base Rate and SOFR loans is 0.750% to 1.750% and 1.750% to 2.750% per annum, respectively, depending on our leverage ratio, which is based on trailing 12-month consolidated EBITDA, as defined in our credit agreement. We are also charged a commitment fee of 0.175% to 0.350%, depending on our leverage ratio, on the unused portion of our revolving credit facility. Base Rate interest payments and commitment fees are due quarterly. SOFR interest payments are due on the last day of the applicable interest period, or quarterly for applicable interest periods longer than three months. As of June 26, 2026, our credit facilities bore interest under the SOFR option at 5.87%.