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Debt (Tables)

3 Months Ended

Mar. 31, 2024

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, 2024						Outstanding Balance as of December 31, 2023
Credit Agreement
Revolving loans						5/31/2023						Variable						Variable						5						$	17,483					$	13,201
Equipment Notes
Equipment Note 8						12/27/2019						2.75%						Semi-annual						5						2,345						2,871
Equipment Note 10						8/26/2022						4.32%						Semi-annual						5						18,064						20,125
Other equipment note						4/11/2022						4.55%						Monthly						5						40						44
																														20,449						23,040
Total debt																														37,932						36,241
Less: current portion of long-term debt																														(6,617)						(7,053)
Long-term debt																														$	31,315					$	29,188

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, 2024:

(in thousands)						Future Equipment Notes Principal Payments
Remainder of 2024						$	4,461
2025						4,364
2026						4,555
2027						7,069
2028						—
2029						—
Total future principal payments						20,449
Less: current portion of equipment notes						(6,617)
Long-term principal obligations						$	13,832

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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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