v3.25.4
Debt (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt Instruments

The Company's debt consisted of the following (in thousands):

 

 

 

 

 

 

 

 

 

Weighted
Average Interest
Rate at

 

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

December 31, 2025

 

Final Maturity

Senior secured notes

 

$

156,517

 

 

$

156,517

 

 

7.875%

 

December 2028

ABL facility

 

 

—

 

 

 

—

 

 

Varies(1)

 

September 2028(2)

Debt discount, net

 

 

(2,265

)

 

 

(2,905

)

 

 

 

 

Total debt

 

 

154,252

 

 

 

153,612

 

 

 

 

 

Less: current debt

 

 

—

 

 

 

—

 

 

 

 

 

Total long-term debt

 

$

154,252

 

 

$

153,612

 

 

 

 

 

 

1.
Borrowings under the Amended ABL Facility bear interest at a rate equal to Secured Overnight Financing Rate ("SOFR") ranging from 1.5% and 2.0% or an alternate base rate plus an applicable margin, which is determined based on the average availability of the commitments under the Amended ABL Facility, ranging from 0.5% to 1.0%.
2.
The Amended ABL Facility extends the maturity date to the earlier of (x) August 28, 2030 and (y) 91 days prior to the maturity date of the Company's 7.875% Senior Notes due 2028 (if such notes are still outstanding as of such date).
Schedule of Maturities of Long-term Debt

The Company's minimum debt repayment schedule, excluding interest, as of December 31, 2025 is as follows (in thousands):

 

 

 

Payments Due

 

 

 

2026

 

 

2027

 

 

2028

 

 

2029

 

 

Thereafter

 

Senior secured notes

 

$

—

 

 

$

—

 

 

$

156,517

 

 

$

—

 

 

$

—

 

ABL facility

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

$

—

 

 

$

—

 

 

$

156,517

 

 

$

—

 

 

$

—