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DEBT | 6 Months Ended
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Jun. 30, 2026
Debt Disclosure [Abstract] |
DEBT | DEBT On August 21, 2025, the Company entered into a credit agreement (the “2025 Credit Agreement”), consisting of a $75.0 million revolving credit facility (the “2025 Revolving Facility”), which matures on August 21, 2030, and a $400.0 million term loan facility (the “2025 Term Loan” and together with the 2025 Revolving Facility, the “2025 Credit Facility”), which matures on August 21, 2030. A summary of the gross carrying amount, debt issuance costs, original issue discount, and net carrying value of the 2025 Term Loan in the accompanying consolidated balance sheets, are as follows (in thousands):
| June 30, 2026 |  | December 31, 2025
Current Portion |  |  |
Gross carrying amount | $ | 4,000 |  |  | $ | 4,000 |
Debt issuance costs | 34 |  |  | 37 |
Unamortized original issue discount | 34 |  |  | 37 |
Net carrying amount | $ | 3,932 |  |  | $ | 3,926 |
Long-term Portion |  |  |
Gross carrying amount | $ | 393,000 |  |  | $ | 395,000 |
Debt issuance costs | 3,307 |  |  | 3,634 |
Unamortized original issue discount | 3,342 |  |  | 3,672 |
Net carrying amount | $ | 386,351 |  |  | $ | 387,694 |
As of June 30, 2026, the Company's borrowings outstanding under the 2025 Term Loan bear interest based on the Secured Overnight Financing Rate ("SOFR") of 7.89%. The carrying value of the Company's financial instruments are equal to fair value at June 30, 2026. As of June 30, 2026, the Company had no borrowings outstanding under the 2025 Revolving Facility. The Company was in compliance with all covenants at June 30, 2026. In the first six months of 2026, the Company recorded interest expense related to its 2025 Credit Agreement of $16.8 million which consisted of $15.9 million associated with borrowings bearing interest based on the SOFR rate, $0.5 million associated with the amortization of debt issuance costs, $0.3 million associated with the accretion of the original issue discount, and $0.1 million in unused commitment fees. In the first six months of 2025, the Company recorded interest expense on the 2025 Notes of $0.6 million which consisted of $0.3 million associated with the 0.50% coupon rate and $0.3 million associated with the amortization of the debt issuance costs. Additionally, a gain on the extinguishment of debt of $0.3 million for the repurchase of a portion of the 2025 Notes is included in interest expense, net in the consolidated statement of operations and comprehensive income. In the first six months of 2025, the Company recorded interest expense related to its Credit Agreement from 2021 of $11.3 million which consisted of $10.3 million associated with borrowings bearing interest at the SOFR option rate, $0.5 million in unused commitment fees and $0.5 million associated with the amortization of the debt issuance costs. In the first six months of 2025, the Company recorded interest expense related to the 2024 Term Loan of $7.8 million which consisted of $7.1 million associated with borrowings bearing interest based on the SOFR option rate, $0.2 million associated with unused commitment fees, $0.3 million associated with the amortization of debt issuance costs, and $0.2 million associated with the accretion of the original issue discount.

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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 942 -SubTopic 210 -Name Accounting Standards Codification -Section S45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef 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