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Debt | 6 Months Ended
--- | ---
Jun. 30, 2025
Debt Disclosure [Abstract] |
Debt | Debt The following table summarizes the Company's debt for each of the periods indicated:
(in thousands) |  | June 30, 2025 |  | December 31, 2024
Senior Secured Term Loan due 2029: |  |  |  |
Principal |  | $ | 400,000 |  |  | $ | 400,000 |
Less: debt discount (1) |  | (6,878) |  |  | (7,863) |
Less: deferred financing (1) |  | (1,800) |  |  | (2,026) |
Net carrying value of long-term debt |  | $ | 391,322 |  |  | $ | 390,111 |
______________________________ (1) Included in the Company's Consolidated Balance Sheets within long-term debt and amortized to interest expense over the remaining life of the Senior Secured Term Loan due 2029 using the effective interest rate method. Interest Expense The following table sets forth interest expense recognized related to the Company's debt for each of the periods indicated:
|  | Three Months Ended June 30, |  | Six Months Ended June 30, |  |
(in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  |  |  |
Contractual interest expense |  | $ | 10,931 |  |  | $ | 11,941 |  |  | $ | 21,771 |  |  | $ | 23,915 |  |  |  |  |
Amortization of debt discount |  | $ | 502 |  |  | $ | 436 |  |  | $ | 984 |  |  | $ | 858 |  |  |  |  |
Amortization of deferred financing |  | $ | 129 |  |  | $ | 124 |  |  | $ | 252 |  |  | $ | 233 |  |  |  |  |

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A Reference 2: http://www.xbrl.org/2003/role/disclosureRef 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