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Debt
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Debt

Note 8. Debt

 

The Company’s debt is comprised of the following:

 

   June 30,
2025		   December 31,
2024		 
Revolving lines of credit  $507   $600 
Finance lease   80    111 
Other current debt   -    378 
Senior Secured Credit Facility   110,000    110,000 
Less: Deferred cost of financing   (1,358)   (1,782)
Total obligations under borrowing arrangements   109,229    109,307 
Less: Current portion of long-term debt and other current borrowings   587    1,087 
Long-term debt  $108,642   $108,220 

 

The Company’s debt is primarily comprised of a Senior Secured Credit Facility with maturity in late 2026, an outstanding balance of $110,000 as of June 30, 2025, and a committed line of credit of $150 million. Borrowings under the credit facility bear interest at a rate of SOFR plus a spread of 1.50%, based on the Company’s net leverage ratio. The effective interest rate for this credit facility including deferred issuance costs is 6.77%.

 

Maturities of long-term debt and other current borrowings as of June 30, 2025, are as follows:

 

      
2026  $587 
2027   110,000 
Total  $110,587 

 

The Company’s loans have maturities ranging from several weeks to 2 years. Our credit facilities bore a weighted average interest rate of 5.87% as of June 30, 2025.