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DEBT (Tables)

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Schedule of Debt

The following is a summary of the Company’s outstanding debt (in thousands):

			September 30, 2024						December 31, 2023
Term Loans
5-year term loan, periodic interest and monthly principal payments, Daily Simple SOFR + 0.11448% SOFR adjustment, matures July 30, 2024			$	—					$	584
7-year term loan, periodic interest and monthly principal payments, Daily Simple SOFR + 0.11448% SOFR adjustment, matures December 6, 2027			6,387						7,772
Total term loans			6,387						8,356
Revolving Facility
5-year revolving credit facility, periodic interest payments, Term SOFR + 0.10% SOFR adjustment + 2% up to 2.75% applicable margin based on the consolidated leverage ratio, plus commitment fees of 0.20% up to 0.35% based on the consolidated leverage ratio, matures May 23, 2028			—						41,000
Deferred acquisition payable			1,430						1,381
Total debt			7,817						50,737
Current maturities			(2,403)						(2,781)
Long-term debt			$	5,414					$	47,956

Schedule of Maturities of Long-Term Debt

Future maturities of the Company’s outstanding debt as of September 30, 2024, were as follows (in thousands):

Remainder of 2024			$	596
2025			2,417
2026			2,474
2027			2,207
2028			63
Thereafter			60
Total			$	7,817

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- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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- Definition

Tabular disclosure of maturity and sinking fund requirement for long-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 470
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-1

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