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Debt (Tables)

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Schedule of total debt

The table below reflects the Company’s total debt, including borrowings under its credit agreement and master loan agreements for equipment notes:

(dollar amounts in thousands)						Inception Date						Stated Interest Rate (per annum)						Payment Frequency						Term (years)						Outstanding Balance as of March 31, 2023						Outstanding Balance as of December 31, 2022
Credit Agreement
Revolving loans						9/13/2019						Variable						Variable						5						$	—					$	12,915
Equipment Notes
Equipment Note 8						12/27/2019						2.75%						Semi-annual						5						3,464						3,464
Equipment Note 10						8/26/2022						4.32%						Semi-annual						5						22,142						24,119
Other equipment note						4/11/2022						4.55%						Monthly						5						52						55
																														25,658						27,638
Total debt																														25,658						40,553
Less: current portion of long-term debt																														(5,160)						(5,074)
Long-term debt																														$	20,498					$	35,479

Schedule of remaining principal payments for long term obligations

The following table sets forth our remaining principal payments for all of the Company’s outstanding equipment notes as of March 31, 2023:

(in thousands)						Future Equipment Notes Principal Payments
Remainder of 2023						$	3,095
2024						6,578
2025						4,364
2026						4,555
2027						7,066
2028						—
Total future principal payments						25,658
Less: current portion of equipment notes						(5,160)
Long-term principal obligations						$	20,498

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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.

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