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Debt (Tables) | 9 Months Ended
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Sep. 30, 2025
Debt Disclosure [Abstract] |
Schedule of Debt | Debt consisted of the following:
|  | September 30, 2025 |  |  | December 31, 2024 |
Term loan facility |  | $ | 200,000 |  |  | $ | 189,218 |
Revolving line of credit |  |  | 107,095 |  |  |  | 25,191 |
Aircraft loan |  |  | 8,419 |  |  |  | 9,272 |
Less deferred debt issuance costs |  |  | (1,890 | ) |  |  | (997 | )
Total debt |  | $ | 313,624 |  |  | $ | 222,684 |
Less current portion of long-term debt |  |  | (11,209 | ) |  |  | (17,866 | )
Long-term debt, less current portion |  | $ | 302,415 |  |  | $ | 204,818 |
Summary of 2025 Credit Facility Term Loan and Revolving Line of Credit Interest Rate Subject to Leverage Ratio and SOFR | The 2025 Credit Facility term loan and the revolving line of credit bear interest subject to the applicable spread based on the Company’s leverage ratio and SOFR as follows:
Pricing Tier |  | Consolidated Leverage Ratio |  | Senior Credit Facilities SOFR Spread |  |  | Senior Credit Facilities Base Rate Spread |  |  | Commitment Fee |  |  | Letter of Credit Fee |  |
1 |  | ≥ 3.75 x to 1.0 |  |  | 2.50 |  | % |  | 1.50 |  | % |  | 0.25 |  | % |  | 2.50 |  | %
2 |  | < 3.75 x to 1.0 but ≥ 3.25 to 1.0 |  |  | 2.25 |  |  |  | 1.25 |  |  |  | 0.23 |  |  |  | 2.25 |  |
3 |  | <3.25 x to 1.0 but ≥ 2.50 to 1.0 |  |  | 2.00 |  |  |  | 1.00 |  |  |  | 0.20 |  |  |  | 2.00 |  |
4 |  | <2.50 x to 1.0 but ≥ 1.75 to 1.0 |  |  | 1.75 |  |  |  | 0.75 |  |  |  | 0.15 |  |  |  | 1.75 |  |
5 |  | <1.75 x to 1.0 |  |  | 1.50 |  |  |  | 0.50 |  |  | 0.15 |  |  |  | 1.50 |  |
Schedule of Interest Rate Swap Agreements | As of September 30, 2025, the Company had the following interest rate swap agreements in place:
Effective date |  | Expiration date |  | Notional amount |  |  | Fixed rate |  | Floating rate
5/30/2023 |  | 4/27/2026 |  | $ | 70,000,000 |  |  | 3.880% |  | USD-SOFR
6/5/2024 |  | 6/27/2027 |  | $ | 80,000,000 |  |  | 3.270% |  | USD-SOFR
4/1/2025 |  | 4/27/2028 |  | $ | 50,000,000 |  |  | 3.625% |  | USD-SOFR
Schedule of Aggregate Annual Maturities of Long-Term Debt (Excluding Current Portion) | e following is a schedule of the aggregate annual maturities of long-term debt (excluding current portion) presented on the unaudited condensed consolidated statement of financial position as of September 30, 2025, before deferred debt issuance cost of $1.9 million, based on the terms of the 2025 Credit Facility and the Aircraft Loan:
|  | 2025 Credit Facility |  |  |  |  |
|  | Term Loan |  | Revolver |  | Aircraft Loan |  | Total |
2026 |  | $ | 2,500 |  | $ | — |  | $ | 315 |  | $ | 2,815 |
2027 |  |  | 10,000 |  |  | — |  |  | 1,318 |  |  | 11,318 |
2028 |  |  | 10,000 |  |  | — |  |  | 577 |  |  | 10,577 |
2029 |  |  | 10,000 |  |  | — |  |  | 5,000 |  |  | 15,000 |
2030 |  |  | 157,500 |  |  | 107,095 |  |  | — |  |  | 264,595 |
Total |  | $ | 190,000 |  | $ | 107,095 |  | $ | 7,210 |  | $ | 304,305 |

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