v3.25.3
Long Term Debt, Revolving Credit Facility and Senior Secured Debt (Tables)
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Outstanding Secured Debt
The following table summarizes outstanding debt at September 30, 2025 and December 31, 2024:
September 30, 2025December 31, 2024
(in thousands)PrincipalDebt Issuance CostsCarrying ValuePrincipalDebt DiscountCarrying Value
Secured term loan
$23,000 $(292)$22,708 $- $- $- 
Secured revolving credit facility
655(79)576 - - - 
Senior secured debt$- $- $- $26,898 $(1,593)$25,305 
Prior to full repayment, the debt issuance costs and debt discount related to the Senior Secured Note were capitalized as a reduction in the principal amount and were amortized to interest expense over the life of the Senior Secured Note.
Three Months EndedNine Months Ended
(In millions)September 30, 2025September 30, 2024September 30, 2025September 30, 2024
Amortization of debt issuance costs and debt discount, included in interest expense$0.5 $0.5 $1.6 $1.4 
Interest expense$1.8 $2.1 $5.5 $6.1 
Schedule of Maturities of Long-Term Debt Future principal payments on the term loan and revolver are due as follows:
(in thousands)Principal Payments
2025$1,438 
20265,750 
2027 (includes the revolver)6,405 
20285,750 
20294,312 
Total Principal Payments23,655 
Debt Issuance Costs(371)
Total23,284 
Less current maturities(5,750)
Long term debt, net of current maturities$17,534