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Fair Value of Financial Instruments
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Fair Value of Financial Instruments Fair Value of Financial Instruments
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). In determining fair value, the Company utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:
•Level 1—Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date.
•Level 2— Observable inputs other than Level 1 prices, such as quoted prices in active markets for similar assets and liabilities, quoted prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data for substantially the full term for the assets or liabilities.
•Level 3— Valuations based on unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date.
The Company’s financial assets and liabilities that are not required to be re-measured at fair value in the condensed consolidated balance sheets were as follows:
Carrying Value as of June 30, 2026Estimated Fair Value as of June 30, 2026Fair Value Measurement at June 30, 2026 (Using Fair Value Hierarchy)
Level 1Level 2Level 3
Liabilities:
Senior Notes$265,000 $278,250 $— $278,250 $— 
ABL Revolver$— $— $— $— $— 


Carrying Value as of December 31, 2025Estimated Fair Value as of December 31, 2025Fair Value Measurement at December 31, 2025 (Using Fair Value Hierarchy)
Level 1Level 2Level 3
Liabilities:
Senior Notes$265,000 $281,616 $— $281,616 $— 
ABL Revolver$25,000 $25,000 $— $25,000 $— 
The aggregate fair value of the Company’s Senior Notes (defined in Note 6, “Long-Term Debt”) was based on quoted prices for identical or similar liabilities in markets that are not active and, as a result, they are classified as Level 2 inputs. The fair value measurement associated with the ABL Revolver (defined in Note 6, “Long-Term Debt”) approximates its carrying value as of December 31, 2025, given the applicable variable interest rates.
The carrying amounts for cash and cash equivalents, accounts receivable and accounts payable each approximate fair value due to their short-term nature.