v3.26.1
Financing Arrangements (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Outstanding Debt
LevelTotal Net Leverage RatioTerm SOFR MarginABR Margin
I
If the Total Net Leverage Ratio is greater than 3.00:1.00
2.75%1.75%
II
If the Total Net Leverage Ratio is less than or equal to 3.00:1.00 and greater than 2.00:1.00
2.50%1.50%
III
If the Total Net Leverage Ratio is less than or equal to 2.00:1.00
2.25%1.25%
The Credit Agreement contains (i) a minimum revenue covenant, in effect from March 31, 2026 to (but not including) the first business day following the occurrence of a Leverage Covenant Toggle Date, that requires us to maintain a minimum amount of revenue set forth below as of the last day of each such fiscal quarter and measured on a trailing twelve month basis:
DateMinimum Revenue
March 31, 2026$245,591,268 
June 30, 2026$264,387,082 
September 30, 2026$319,190,794 
December 31, 2026$372,510,143 
March 31, 2027$426,903,024 
June 30, 2027$501,782,812 
September 30, 2027$554,984,539 
December 31, 2027$616,972,315 
March 31, 2028$676,839,498 
June 30, 2028$722,972,451 
September 30, 2028$758,499,673 
The following table presents the Company's outstanding debt:
As of
June 30, 2026December 31, 2025
Term Loan Facility$148,125 $150,000 
Less: unamortized discounts and issuance costs(1,081)(1,288)
Total debt, net147,044 148,712 
Less: current portion of long-term debt5,625 3,750 
Total long-term debt, net$141,419 $144,962 
Schedule of Interest Expense and Amortization of Debt Issuance Costs The following table presents interest expense and amortization of debt issuance costs recognized for the three and six months ended June 30, 2026 and 2025:
For the three months ended June 30,For the six months ended June 30,
2026202520262025
Contractual interest expense$2,673 $6,899 $5,365 $13,749 
Amortization of debt issuance costs211 219 418 428 
Total interest expense$2,884 $7,118 $5,783 $14,177 
Schedule of Aggregate Maturities
The aggregate maturities of all debt at June 30, 2026 are as follows:
Years ending December 31Amount
2026 (for the remaining period)$1,875 
20277,500 
20287,500 
2029131,250 
$148,125