Debt (Details) - USD ($)
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1 Months Ended |
12 Months Ended |
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Oct. 15, 2023 |
Jul. 15, 2023 |
May 01, 2023 |
Aug. 27, 2021 |
Mar. 31, 2022 |
Sep. 30, 2021 |
Jul. 31, 2020 |
Apr. 30, 2020 |
Dec. 31, 2023 |
Dec. 31, 2021 |
Jan. 01, 2022 |
Oct. 01, 2021 |
| Debt Instrument [Line Items] |
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| Credit facility outstanding amount |
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$ 24,000,000
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| Maturity date |
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May 01, 2023
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| Aggregate principal amount |
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$ 20,000,000
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| Repaid the original principal balance |
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$ 5,000,000
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| Term loan |
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$ 5,000,000
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| Line of credit facility, description |
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The revolving line bore interest at the greater of (i) Wall Street Journal Prime Rate plus 2.25% and (ii) 6.50%, and had a maturity date of May 1, 2022. The term loan bore interest at the greater of (i) Wall Street Journal Prime Rate plus 3.25% and (ii) 7.50%. Interest only on the term loan was payable until September 1, 2021, and thereafter outstanding principal was payable in thirty-nine equal installments through the facility maturity date of May 1, 2024.
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| Borrowings under the agreement |
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$ 70,000,000
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| Debt description |
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The Term A-1 Loans and Term B Loans bear annual interest, payable monthly, at a floating rate measured by reference to, at the Company’s option, either (a) a base rate then in effect (equal to the greater of (i) the federal funds rate plus 0.50%, (ii) the prime rate, (iii) 2.00% and (iv) an adjusted one-month Secured Overnight Financing Rate (“SOFR”) (subject to a floor of 1.00%) plus 1.00%) plus an applicable margin ranging from 6.00% to 8.25% per annum, depending on whether the “EBITDA Trigger Date” has occurred, the Company’s “Enterprise Value” and, once the EBITDA Trigger Date has occurred, its “Total Debt to EBITDA Ratio” (as such terms are defined in the Monroe Credit Agreement) or (b) an adjusted one-month or three-month SOFR (subject to a floor of 1.00%) plus an applicable margin ranging from 7.00% to 9.25% per annum, depending on whether the EBITDA Trigger Date has occurred, the Company’s Enterprise Value and, once the EBITDA Trigger Date has occurred, its Total Debt to EBITDA Ratio. The interest rate as of December 31, 2023 on the Term A-1 Loans was 14.64%. The Term A-2 Loans bore annual interest, payable monthly, at the greater of (i) 12% and (ii) a floating rate measured by reference to the prime rate plus 5.75% per annum, subject to a cap of 15%. Pursuant to Amendment No. 2, the Term A-2 Loans, which originally matured on May 1, 2023, was repaid in full during the year ended December 31, 2023
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| Federal fund rate percentage |
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0.50%
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| Equity and debt offerings percentage |
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100.00%
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| Net cash proceeds percentage |
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100.00%
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| Debt maturities principal, year two |
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$ 127,000,000
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| Debt maturities principal, year three |
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$ 65,000,000
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| Monroe Term Loan [Member] | Term A-1 Loans [Member] |
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| Debt Instrument [Line Items] |
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| Maturity date |
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Mar. 24, 2026
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| Borrowings under the agreement |
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$ 70,000,000
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| Debt instrument, stated percentage |
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14.64%
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| Prepayment of outstanding principal balance |
$ 5,000,000
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| Monroe Term Loan [Member] | Term A-2 Loans [Member] |
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| Debt Instrument [Line Items] |
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| Maturity date |
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May 01, 2023
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| Borrowings under the agreement |
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$ 20,000,000
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| Debt instrument, frequency of periodic payments |
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monthly
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| Debt instrument, cap rate |
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15.00%
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| Payment of outstanding principal balance |
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$ 10,000,000
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$ 5,000,000
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| Monroe Term Loan [Member] | Term B Loans [Member] |
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| Debt Instrument [Line Items] |
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| Maturity date |
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Mar. 24, 2026
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| Debt instrument, unused borrowing capacity, remaining period |
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18 months
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| Aggregate principal amount available to be drawn |
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$ 20,000,000
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| Debt instrument, frequency of periodic payments |
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monthly
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| Debt instrument, floor rate |
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1.00%
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| ROAR 1 SPV Finance LLC [Member] |
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| Debt Instrument [Line Items] |
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| Credit agreement |
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$ 100,000,000
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$ 730,000
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$ 135,000,000
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| Maturity date |
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2025-03
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| Maximum borrowings under the agreement |
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$ 200,000,000
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| Bears interest rate |
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12.50%
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| ROAR 2 SPV Finance LLC [Member] |
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| Debt Instrument [Line Items] |
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| Credit agreement |
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$ 125,000,000
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$ 75,000,000
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| Maturity date |
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2025-12
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| Maximum borrowings under the agreement |
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$ 300,000,000
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| Bears interest rate |
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12.50%
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| Minimum [Member] |
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| Debt Instrument [Line Items] |
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| Extraordinary cash receipts percentage |
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0.00%
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| Principal amount percentage |
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0.00%
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| Minimum [Member] | Monroe Term Loan [Member] | Term A-2 Loans [Member] |
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| Debt Instrument [Line Items] |
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| Debt instrument, stated percentage |
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12.00%
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| Maximum [Member] |
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| Debt Instrument [Line Items] |
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| Extraordinary cash receipts percentage |
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50.00%
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| Principal amount percentage |
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3.00%
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| Maximum [Member] | Monroe Term Loan [Member] |
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| Debt Instrument [Line Items] |
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| Incremental commitments amount |
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$ 60,000,000
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| Prime Rate [Member] | Monroe Term Loan [Member] | Term A-2 Loans [Member] |
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| Debt Instrument [Line Items] |
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| Debt instrument, basis spread on variable rate |
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5.75%
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| Prime Rate [Member] | Monroe Term Loan [Member] | Term B Loans [Member] |
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| Debt Instrument [Line Items] |
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| Debt instrument, stated percentage |
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2.00%
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| One-month SOFR [Member] | Monroe Term Loan [Member] | Term B Loans [Member] |
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| Debt Instrument [Line Items] |
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| Debt instrument, basis spread on variable rate |
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1.00%
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| One-month SOFR [Member] | Minimum [Member] | Monroe Term Loan [Member] | Term B Loans [Member] |
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| Debt Instrument [Line Items] |
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| Debt instrument, basis spread on variable rate |
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6.00%
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| One-month SOFR [Member] | Maximum [Member] | Monroe Term Loan [Member] | Term B Loans [Member] |
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| Debt Instrument [Line Items] |
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| Debt instrument, basis spread on variable rate |
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8.25%
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| One Month Or Three Month SOFR [Member] | Minimum [Member] | Monroe Term Loan [Member] | Term B Loans [Member] |
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| Debt Instrument [Line Items] |
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| Debt instrument, basis spread on variable rate |
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7.00%
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| One Month Or Three Month SOFR [Member] | Maximum [Member] | Monroe Term Loan [Member] | Term B Loans [Member] |
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| Debt Instrument [Line Items] |
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| Debt instrument, basis spread on variable rate |
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9.25%
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| Second Lien Loan [Member] |
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| Debt Instrument [Line Items] |
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| Credit facility outstanding amount |
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$ 20,000,000
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| Initial principal balance |
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$ 5,000,000
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| Lien Loan bears interest |
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12.00%
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| Prime rate interest |
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5.75%
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| Interest not to exceed |
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15.00%
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| Aggregate principal amount |
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$ 25,000,000
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| First Lien Loan [Member] |
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| Debt Instrument [Line Items] |
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| Bank for loan facility |
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$ 25,000,000
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| First Lien Loan [Member] | Revolving Credit Facility [Member] |
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| Debt Instrument [Line Items] |
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| Maturity date |
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May 01, 2022
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| Debt instrument, stated percentage |
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6.50%
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| First Lien Loan [Member] | Revolving Credit Facility [Member] | Prime Rate [Member] |
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| Debt Instrument [Line Items] |
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| Debt instrument, basis spread on variable rate |
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2.25%
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| First Lien Loan [Member] | Term Loan [Member] |
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| Debt Instrument [Line Items] |
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| Maturity date |
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May 01, 2024
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| Debt instrument, stated percentage |
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7.50%
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| First Lien Loan [Member] | Term Loan [Member] | Prime Rate [Member] |
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| Debt Instrument [Line Items] |
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| Debt instrument, basis spread on variable rate |
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3.25%
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