Annual report pursuant to Section 13 and 15(d)

Debt (Tables)

v3.24.1.u1
Debt (Tables)
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Schedule of Components of Debt

The components of the Company’s debt consist of the following (in thousands):

 

    December 31, 2023   December 31, 2022
    Amount     Rate    

Maturity
date

   Amount     Rate    

Maturity
date
Term loan, net   $ 2,881       (2)     6/21/2026   $ —              
Line of credit, net     1,741       (3)     6/21/2025     11,444       (1)     10/31/2024
Total debt     4,622                   11,444              
Less current portion     4,622                   —              
Total long-term debt   $ —                 $ 11,444              

 

(1) Interest at a variable rate of the daily U.S. Federal Funds Rate plus 375 basis points with an interest rate floor of 3.75% per annum.
   
(2) Interest at a fixed rate of 10.00% per annum.
   
(3) Interest at a variable rate of the daily U.S. Federal Funds Rate plus 250 basis points with an interest rate floor of 5.50% per annum.
Schedule of Future Debt Maturities

Future debt maturities as of December 31, 2023 and for succeeding years are as follows (in thousands):

 

Year ending December 31:      
2024   $ 5,291  
2025   $ —  
2026   $ —  
Total   $ 5,291