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LONG-TERM DEBT (Tables)

9 Months Ended

Sep. 30, 2025

Debt Disclosure [Abstract]

Schedule of outstanding indebtedness, at face value

As of September 30, 2025, the Company’s outstanding indebtedness, at face value, was as follows (in thousands):

​	​	​	​	​	​	​	​	​	​	​	​
​	Face Value Debt			Maturity Date			Interest Rate			Wtd. Avg. Rate
Credit Facility (1)	$	139,000	​	January 2027		​	​	SOFR + 0.10% + [1.25% - 2.20%]	​	​	5.17%
2027 Term Loan (2)	​	100,000	​	January 2027		​	​	SOFR + 0.10% + [1.25% - 2.20%]	​	​	2.80%
2028 Term Loan (3)	​	100,000	​	January 2028		​	​	SOFR + 0.10% + [1.20% - 2.15%]	​	​	5.18%
2029 Term Loan (4)	​	125,000	​	September 2029		​	​	SOFR + [1.20% - 2.15%]	​	​	4.21%
2030 Term Loan (5)	​	125,000	​	September 2030		​	​	SOFR + [1.20% - 2.15%]	​	​	4.24%
Mortgage Note Payable	​	17,800	​	August 2026		​	​	4.060%	​	​	4.06%
Total Long-Term Face Value Debt	$	606,800	​	​	​	​	​	​	​	​	4.36%

⁽¹⁾ The Company utilized interest rate swaps on $65.0 million of the Credit Facility balance to fix SOFR and achieve a weighted average fixed swap rate of 3.12% plus the 10 bps SOFR adjustment plus the applicable spread.

⁽²⁾      The Company utilized interest rate swaps on the $100.0 million 2027 Term Loan balance to fix SOFR and achieve a weighted average fixed swap rate of 1.35% plus the 10 bps SOFR adjustment plus the applicable spread.

⁽³⁾ The Company utilized interest rate swaps on the $100.0 million 2028 Term Loan balance to fix SOFR and achieve a fixed swap rate of 3.78% plus the 10 bps SOFR adjustment plus the applicable spread.

⁽⁴⁾ The Company utilized interest rate swaps on the $125.0 million 2029 Term Loan balance to fix SOFR and achieve a weighted average fixed swap rate of 2.91% plus the applicable spread.

⁽⁵⁾ The Company utilized interest rate swaps on the $125.0 million 2030 Term Loan balance to fix SOFR and achieve a weighted average fixed swap rate of 2.94% plus the applicable spread.

Schedule of components of long-term debt

Long-term debt consisted of the following (in thousands):

​

​	​	​	​	​	​	​	​	​	​	​	​
​	September 30, 2025					​	December 31, 2024
​	Total			Due Within One Year			Total			Due Within One Year
Credit Facility	$	139,000	​	$	—	​	$	87,000	​	$	—
2026 Term Loan	​	—	​	​	—	​	​	65,000	​	​	—
2027 Term Loan	​	100,000	​	​	—	​	​	100,000	​	​	—
2028 Term Loan	​	100,000	​	​	—	​	​	100,000	​	​	—
2029 Term Loan	​	125,000	​	​	—	​	​	100,000	​	​	—
2030 Term Loan	​	125,000	​	​	—	​	​	—	​	​	—
3.875% Convertible Senior Notes, net of Discount	​	—	​	​	—	​	​	50,989	​	​	50,989
Mortgage Note Payable	​	17,800	​	​	17,800	​	​	17,800	​	​	—
Financing Costs, net of Accumulated Amortization	​	(2,637)	​	​	—	​	​	(1,796)	​	​	—
Total Long-Term Debt	$	604,163	​	$	17,800	​	$	518,993	​	$	50,989

Schedule of payments applicable to reduction of principal amounts

​

Payments applicable to reduction of principal amounts as of September 30, 2025 will be required as follows (in thousands):

​

​	​	​
As of September 30, 2025	Amount
Remainder of 2025	$	—
2026	​	17,800
2027	​	239,000
2028	​	100,000
2029	​	125,000
2030	​	125,000
2031 and Thereafter	​	—
Total Long-Term Debt - Face Value	$	606,800

Schedule of carrying value of long-term debt

The carrying value of long-term debt as of September 30, 2025 consisted of the following (in thousands):

​

​	​	​
​	Total
Current Face Amount	$	606,800
Financing Costs, net of Accumulated Amortization	​	(2,637)
Total Long-Term Debt	$	604,163

Schedule of interest expense on debt

​

The following table reflects a summary of interest expense incurred and paid during the three and nine months ended September 30, 2025 and 2024 (in thousands):

​	​	​	​	​	​	​	​	​	​	​	​
​	Three Months Ended					​	Nine Months Ended
​	September 30, 2025		​	September 30, 2024		​	September 30, 2025		​	September 30, 2024
Interest Expense	$	6,533	​	$	5,348	​	$	18,843	​	$	15,888
Amortization of Deferred Financing Costs	​	300	​	​	245	​	​	940	​	​	758
Amortization of Discount on Convertible Notes	​	—	​	​	39	​	​	45	​	​	119
Total Interest Expense	$	6,833	​	$	5,632	​	$	19,828	​	$	16,765
​	​	​	​	​	​	​	​	​	​	​	​
Total Interest Paid (1)	$	4,160	​	$	4,986	​	$	16,950	​	$	15,640

^{(1) Includes capitalized interest of $0.1 million during the nine months ended September 30, 2025 and 2024.}

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