Long-Term Debt |
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| Long-Term Debt, Unclassified [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long-Term Debt | 9. Long-Term Debt Long-term debt consisted of the following as of June 30, 2026 and December 31, 2025, respectively:
2021 Credit Agreement The Company is party to a credit agreement, as amended (the “2021 Credit Agreement”), providing for a $175.0 million term loan facility (the “2021 Term Loan”) and a $50.0 million revolving credit facility (the “Revolving Credit Facility”), each of which matures on January 16, 2030. The 2021 Term Loan and the Revolving Credit Facility bear interest at a rate per annum equal to (a) ABR (as defined in the 2021 Credit Agreement) or (b) Term SOFR (as defined in the 2021 Credit Agreement) for the interest period in effect for the applicable borrowing, in each case, plus an applicable margin based on a grid ranging from 1.00% to 1.50% for ABR borrowings and 2.00% to 2.50% for Term SOFR borrowings. The interest rates are subject to two step-ups of 0.25% based on the total net leverage ratio of DH Holdings and its restricted subsidiaries on a consolidated basis (the “Total Net Leverage Ratio”). In addition, DH Holdings will pay an unused commitment fee of between 0.25% and 0.30% on the undrawn commitments under the Revolving Credit Facility, also depending on the Total Net Leverage Ratio. The expense is included in interest expense in the unaudited condensed consolidated statements of operations. The obligations under the 2021 Credit Agreement are secured by pledges of assets as described in the 2025 Form 10-K. During the six months ended June 30, 2026, the Company repaid $4.4 million in outstanding principal of the 2021 Term Loan. As of June 30, 2026, the Company had no outstanding borrowings under the Revolving Credit Facility and had $49.7 million of available borrowing capacity after giving effect to $0.3 million of outstanding letters of credit. The Company was in compliance with its financial covenants under the 2021 Credit Agreement as of June 30, 2026. Unamortized financing costs related to the Revolving Credit Facility, which were included in other assets in the unaudited condensed consolidated balance sheets, were $0.4 million and $0.5 million as of June 30, 2026 and December 31, 2025, respectively. |
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