XML 42 R30.htm IDEA: XBRL DOCUMENT
v3.25.2

Long-Term Debt (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
Debt Disclosure [Abstract] |
Schedule of Long-Term Debt Instruments | The carrying value of debt presented within current portion of notes payable and long-term indebtedness, net of debt discounts on the condensed consolidated balance sheets as of June 30, 2025 and December 31, 2024 includes the following components:
| As of June 30, 2025 |  | As of December 31, 2024
| (amounts in thousands)
Term loan Initial Draw - January 18, 2023 | $ | 200,000 |  |  | $ | 200,000 |
Exit fee on term loan - January 18, 2023 | 2,000 |  |  | 2,000 |
Term loan Subsequent Draw - March 5, 2024 | 200,000 |  |  | 200,000 |
Exit fee on term loan - March 5, 2024 | 2,000 |  |  | 2,000 |
Less: Amortized debt discounts and financing costs (1) | (30,583) |  |  | (30,863) |
Net debt | $ | 373,417 |  |  | $ | 373,137 |
Compound bifurcated derivative liability | $ | — |  |  | $ | 6,058 |
(1) Includes debt discounts of $28.3 million associated with the initial carrying value of compound bifurcated derivative liability.
The components of interest expense associated with the Company’s long-term indebtedness and the 2025 Convertible Note, excluding finance leases, are as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30, |
| 2025 |  | 2024 |  | 2025 |  | 2024 |  |  |  |  |
| (amounts in thousands)
Debt discount amortization | $ | 7,755 |  |  | $ | 1,731 |  |  | $ | 9,700 |  |  | $ | 3,322 |  |  |  |  |  |
Interest expense | 11,446 |  |  | 11,933 |  |  | 22,275 |  |  | 19,623 |  |  |  |  |  |
Interest expense on long-term indebtedness, excluding finance leases | $ | 19,201 |  |  | $ | 13,664 |  |  | $ | 31,975 |  |  | $ | 22,945 |  |  |  |  |  |
Schedule of Maturities of Long-Term Debt | Maturities of the Company’s debt are expected to be as follows as of June 30, 2025:
| Amount
Years Ending December 31, |
Remainder of 2025 | $ | — |
2026 | — |
2027 | — |
2028 | 400,000 |
2029 | — |

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 942 -SubTopic 235 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-8 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-6 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-7 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 470 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-1 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration