0001437749-24-007848 | 10-K | XBRL Viewer

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	For the years ended December 31,
	2023		2022			2021
Numerator:
Net income (loss)	$	19,180	$	73,774		$	(27,139	)
Less: fair value adjustment for Warrants		—		(57,021	)		—
Net income (loss) - diluted	$	19,180	$	16,753		$	(27,139	)
Denominator:
Weighted average common shares outstanding - basic		117,378,854		116,762,928			89,959,993
Dilutive effect of potential common shares from RSUs		952,161		101,290			—
Dilutive effect of potential common shares from PSUs		179,785		—			—
Dilutive effect of potential common shares from Warrants		—		384,078			—
Weighted average common shares outstanding - diluted		118,510,800		117,248,296			89,959,993
Earnings (loss) per share:
Basic	$	0.16	$	0.63		$	(0.30	)
Diluted	$	0.16	$	0.14		$	(0.30	)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

	For the years ended December 31,
	2023		2022		2021
Anti-dilutive shares excluded from calculation of diluted EPS:
Warrants		14,633,311		—		14,666,644
Stock options		886,046		1,709,690		1,386,974
Restricted stock units		146,475		540,344		656,485
Performance stock units		1,822,994		—		—
Unvested Earn-Out Shares		1,093,750		1,093,750		2,187,500
Total anti-dilutive shares		18,582,576		3,343,784		18,897,603

Note 15 - Equity-based Compensation Plans (Details Textual) - USD ($)

1 Months Ended

12 Months Ended

34 Months Ended

Jun. 06, 2023

May 08, 2023

Mar. 08, 2023

Oct. 31, 2022

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Oct. 31, 2020

Restricted Stock Units (RSUs) [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)

^[1]

4,954,177

Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount

$ 9,071,000

Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)

2 years 3 months 18 days

Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)

$ 2.6

^[1]

$ 5.87

$ 12.06

Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value

$ 4,231,000

Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares)

823,337

Restricted Stock Units (RSUs) [Member] | Minimum [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)

1 year

Restricted Stock Units (RSUs) [Member] | Maximum [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)

4 years

Restricted Stock Units (RSUs) [Member] | President [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)

1,000,000

Performance Shares [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)

8,050

949,412

Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)

3 years

Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)

$ 2.43

$ 1.98

Share-based Compensation Arrangement, Equity Instruments Other Than Options, Time-based Awards (in shares)

1,000,000

Performance Shares [Member] | Minimum [Member]

Share-based Compensation Arrangement, Vesting Award Rights, Percentage of Initial Target Awards

0.00%

Performance Shares [Member] | Maximum [Member]

Share-based Compensation Arrangement, Vesting Award Rights, Percentage of Initial Target Awards

150.00%

Performance Shares [Member] | President [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)

1,520,000

Share-Based Payment Arrangement [Member]

Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount

$ 893,000

Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)

10 months 24 days

Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)

10 years

Share-Based Compensation Arrangement by Share-Based Payment Award, Option, Nonvested, Weighted Average Exercise Price, Ending Balance (in dollars per share)

$ 4.65

$ 3.88

Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate

0.00%

Share-Based Payment Arrangement [Member] | Minimum [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)

3 years

Profit Interest Units [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares)

41,400,000

Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)

24,074,944

Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount

$ 0

Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value

$ 20,276,000

$ 535,000

Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)

Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares)

36,506,814

1,693,804

Accelerated Share-Based Payment Arrangement, Expense

$ 11,351

The 2021 Omnibus Incentive Plan [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares)

8,850,000

Common Stock, Capital Shares Reserved for Future Issuance (in shares)

4,679,306

[1]

Includes 1.0 million PSUs subject to the Company achieving certain Adjusted EBITDA and sales performance targets during each of fiscal years 2023, 2024, and 2025. The criteria are based on a range of these performance targets in which participants may earn between 0% to 150% of the base number of awards granted. The weighted average grant date fair value of these PSUs was $1.98. The Company assesses the attainment of target payout rates each reporting period. Equity-based compensation expense is recognized for awards deemed probable of vesting.

Note 12 - Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%	21.00%
Deferred Tax Assets, Operating Loss Carryforwards, State and Local	$ 5
Unrecognized Tax Benefits	329	$ 0
Income Tax Examination, Penalties and Interest Accrued	0	$ 0
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	9
Decrease in Unrecognized Tax Benefits is Reasonably Possible	9
Domestic Tax Authority [Member]
Operating Loss Carryforwards	381
State and Local Jurisdiction [Member]
Operating Loss Carryforwards	$ 2,064

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2020	67,673,884
Balance at Dec. 31, 2020	$ 7	$ 238,883	$ (674)	$ 2,165	$ 240,381
Net income (loss)	0	0	0	(27,139)	(27,139)
Equity compensation	0	4,963	0	0	4,963
Foreign currency translation adjustment	0	0	30	0	30
Pension liability adjustment	$ 0	0	388	0	388
Recapitalization transaction, net (in shares)	48,133,453
Recapitalization transaction, net	$ 5	85,859	0	0	85,864
Balance (in shares) at Dec. 31, 2021	115,807,337
Balance at Dec. 31, 2021	$ 12	329,705	(256)	(24,974)	304,487
Net income (loss)	0	0	0	73,774	73,774
Equity compensation	0	24,395	0	0	24,395
Foreign currency translation adjustment	0	0	(990)	0	(990)
Pension liability adjustment	$ 0	0	302	0	302
Issuance of vested Earn-Out Shares (in shares)	1,093,750
Issuance of vested Earn-Out Shares	$ 0	14,689	0	0	14,689
Warrants exercised (in shares)	33,333
Warrants exercised	$ 0	383	0	0	383
Tax withholding related to vesting of restricted stock units	$ 0	(1,050)	0	0	(1,050)
Issuance of shares for restricted stock units (in shares)	213,577
Issuance of shares for restricted stock units	$ 0	0	0	0	0
Balance (in shares) at Dec. 31, 2022	117,147,997
Balance at Dec. 31, 2022	$ 12	368,122	(944)	48,800	415,990
Net income (loss)	0	0	0	19,180	19,180
Equity compensation	0	7,291	0	0	7,291
Foreign currency translation adjustment	0	0	234	0	234
Tax withholding related to vesting of restricted stock units	$ 0	(1,544)	0	0	(1,544)
Issuance of shares for restricted stock units (in shares)	559,283
Issuance of shares for restricted stock units	$ 0	0	0	0	0
Balance (in shares) at Dec. 31, 2023	117,707,280
Balance at Dec. 31, 2023	$ 12	$ 373,869	$ (710)	$ 67,980	$ 441,151

Note 6 - Accrued Liabilities

12 Months Ended

Dec. 31, 2023

Accrued Liabilities Disclosure [Text Block]

6.	ACCRUED LIABILIITES

Accrued liabilities of the Company consisted of the following:

	December 31,
	2023		2022
Accrued freight	$	5,654	$	6,861
Accrued employee compensation and benefits		11,696		7,635
Accrued returns, allowances and warranties		11,267		8,798
Accrued taxes		1,475		6,697
Current portion of operating lease liabilities		4,948		5,112
Accrued other		7,089		8,214
Total accrued liabilities	$	42,129	$	43,317

Note 14 - Benefit Plans - Schedule of Defined Benefit Plan, Assumptions (Details)	12 Months Ended
	Dec. 31, 2022
Discount rate	2.78%
Expected return on plan assets	5.20%

Note 15 - Equity-based Compensation Plans - Schedule of Profit Interest Units Valuation using Black-Scholes Option Pricing Model (Details) - Profit Interest Units [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Weighted-average expected term (Year)	3 years	2 years
Expected volatility	65.00%	55.00%
Expected dividend	$ 0	$ 0
Risk-free interest rate	4.30%	0.30%

Note 16 - Lease Commitments - Schedule of Operating Lease Expense Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Components of lease expense:
Operating lease expense	$ 6,629	$ 7,294
Short-term lease expense	1,953	2,402
Variable lease expense	314	763
Total lease expense	8,896	10,459
Cash paid for amounts included in measurement of operating lease liabilities	7,024	7,311
Right-of-use assets obtained in exchange for new operating lease liabilities	6,531	13,942
Decapitalization of right-of-use assets upon lease termination or modification	$ 1,320	$ 12,658

Note 14 - Benefit Plans - Schedule of Pre Tax Amounts Recognized in Other Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Actuarial gain arising during measurement period	$ (129)	$ (513)
Amortization of actuarial loss	(154)	(25)
Total recognized in other comprehensive (income) loss	$ (283)	$ (538)

Note 4 - Property, Plant and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Table Text Block]

	December 31,
	2023		2022
Land	$	3,326	$	3,426
Buildings and improvements		11,404		11,051
Machinery and equipment		73,332		66,140
Construction in process		6,224		9,563
Total property, plant and equipment		94,286		90,180
Less: accumulated depreciation		47,080		37,999
Property, plant and equipment, net	$	47,206	$	52,181

Long-Lived Assets by Geographic Areas [Table Text Block]

	December 31,
	2023		2022
United States	$	44,931	$	50,434
International		2,275		1,747
Total property, plant and equipment, net	$	47,206	$	52,181

Note 15 - Equity-based Compensation Plans - Schedule of Components of Equity-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restricted Stock Units (RSUs) [Member]
Share-Based Payment Arrangement, Expense	$ 4,371	$ 4,304	$ 1,070
Performance Shares [Member]
Share-Based Payment Arrangement, Expense	2,343	0	0
Share-Based Payment Arrangement, Option [Member]
Share-Based Payment Arrangement, Expense	577	2,349	824
Profit Interest Units [Member]
Share-Based Payment Arrangement, Expense	$ 0	$ 17,742	$ 3,069

Note 5 - Goodwill and Other Intangible Assets - Schedule of Finite-lived Intangible Assets, Future Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
2024	$ 13,744
2025	13,714
2026	13,608
2027	13,601
2028	13,601
Thereafter	167,032
Total	$ 235,300	$ 249,857

Note 19 - Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Product Warranty Liability [Table Text Block]

	For the years ended December 31,
	2023			2022			2021
Beginning balance	$	3,584		$	3,994		$	3,989
Accrued for current year warranty claims		11,362			12,261			10,185
Settlement of warranty claims		(11,621	)		(12,671	)		(10,180	)
Ending balance	$	3,325		$	3,584		$	3,994

Note 2 - Business Combination, Acquisitions, and Divestiture - Allocation of the Purchase Price to the Estimated Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 23, 2021	Dec. 16, 2021	Apr. 14, 2021
Goodwill	$ 419,056	$ 418,121	$ 411,383
John's, Southern Kentucky Classics, and Vesta Motorsports [Member]
Accounts receivable		562
Inventory		3,627
Property, plant and equipment		275
Other assets		24
Goodwill		7,352
Accounts payable		(158)
Accrued liabilities		(20)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net		14,863
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net		14,863
John's, Southern Kentucky Classics, and Vesta Motorsports [Member] \| Trade Names [Member]
Intangible assets		1,689
John's, Southern Kentucky Classics, and Vesta Motorsports [Member] \| Customer Relationships [Member]
Intangible assets		1,512
John's, Southern Kentucky Classics, and Vesta Motorsports [Member] \| Previously Reported [Member]
Accounts receivable		959
Inventory		3,481
Property, plant and equipment		275
Other assets		1,132
Goodwill		5,858
Accounts payable		(25)
Accrued liabilities		(18)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net		14,863
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net		14,863
John's, Southern Kentucky Classics, and Vesta Motorsports [Member] \| Previously Reported [Member] \| Trade Names [Member]
Intangible assets		1,689
John's, Southern Kentucky Classics, and Vesta Motorsports [Member] \| Previously Reported [Member] \| Customer Relationships [Member]
Intangible assets		1,512
John's, Southern Kentucky Classics, and Vesta Motorsports [Member] \| Revision of Prior Period, Adjustment [Member]
Accounts receivable		(397)
Inventory		146
Other assets		(1,108)
Goodwill		1,494
Accounts payable		(133)
Accrued liabilities		$ (2)
Finspeed, Classic Instruments, ADS, Rocket and Speartech [Member]
Accounts receivable			618
Inventory			3,975
Property, plant and equipment			2,274
Other assets			23
Goodwill			8,189
Accounts payable			(343)
Accrued liabilities			(7)
Cash			122
Finspeed, Classic Instruments, ADS, Rocket and Speartech [Member] \| Trade Names [Member]
Intangible assets			2,608
Finspeed, Classic Instruments, ADS, Rocket and Speartech [Member] \| Customer Relationships [Member]
Intangible assets			2,450
Finspeed, Classic Instruments, ADS, Rocket and Speartech [Member] \| Previously Reported [Member]
Accounts receivable			618
Inventory			3,975
Property, plant and equipment			2,274
Other assets			23
Goodwill			11,017
Accounts payable			(343)
Accrued liabilities			(129)
Cash			122
Finspeed, Classic Instruments, ADS, Rocket and Speartech [Member] \| Previously Reported [Member] \| Trade Names [Member]
Intangible assets			2,608
Finspeed, Classic Instruments, ADS, Rocket and Speartech [Member] \| Previously Reported [Member] \| Customer Relationships [Member]
Intangible assets			2,450
Finspeed, Classic Instruments, ADS, Rocket and Speartech [Member] \| Revision of Prior Period, Adjustment [Member]
Goodwill			(2,828)
Accrued liabilities			122
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net			(2,706)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net			(2,706)
Baer Inc [Member]
Accounts receivable				$ 627
Inventory				1,813
Property, plant and equipment				695
Other assets				76
Goodwill				8,284
Accounts payable				(2)
Accrued liabilities				(28)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net				22,170
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net				22,170
Baer Inc [Member] \| Trade Names [Member]
Intangible assets				4,630
Baer Inc [Member] \| Customer Relationships [Member]
Intangible assets				6,075
Baer Inc [Member] \| Previously Reported [Member]
Accounts receivable				627
Inventory				1,813
Property, plant and equipment				695
Other assets				76
Goodwill				8,363
Accounts payable				(81)
Accrued liabilities				(28)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net				22,170
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net				22,170
Baer Inc [Member] \| Previously Reported [Member] \| Trade Names [Member]
Intangible assets				4,630
Baer Inc [Member] \| Previously Reported [Member] \| Customer Relationships [Member]
Intangible assets				6,075
Baer Inc [Member] \| Revision of Prior Period, Adjustment [Member]
Goodwill				(79)
Accounts payable				$ 79
Brothers Mail Order Industries Inc [Member]
Accounts receivable					$ 22
Inventory					1,682
Property, plant and equipment					20
Other assets					13
Goodwill					19,860
Accounts payable					(34)
Accrued liabilities					(403)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net					26,135
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net					26,135
Brothers Mail Order Industries Inc [Member] \| Trade Names [Member]
Intangible assets					4,975
Brothers Mail Order Industries Inc [Member] \| Previously Reported [Member]
Accounts receivable					22
Inventory					1,682
Property, plant and equipment					20
Other assets					13
Goodwill					19,561
Accounts payable					(34)
Accrued liabilities					(403)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net					25,836
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net					25,836
Brothers Mail Order Industries Inc [Member] \| Previously Reported [Member] \| Trade Names [Member]
Intangible assets					4,975
Brothers Mail Order Industries Inc [Member] \| Revision of Prior Period, Adjustment [Member]
Goodwill					299
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net					299
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net					$ 299
Advance Engine Management Inc [Member]
Accounts receivable						$ 3,393
Inventory						3,892
Property, plant and equipment						1,342
Other assets						402
Goodwill						17,006
Accounts payable						(1,922)
Accrued liabilities						(350)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net						51,243
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net						51,243
Advance Engine Management Inc [Member] \| Trade Names [Member]
Intangible assets						10,760
Advance Engine Management Inc [Member] \| Customer Relationships [Member]
Intangible assets						14,640
Advance Engine Management Inc [Member] \| Patents [Member]
Intangible assets						1,970
Advance Engine Management Inc [Member] \| Technology-Based Intangible Assets [Member]
Intangible assets						110
Advance Engine Management Inc [Member] \| Previously Reported [Member]
Accounts receivable						3,454
Inventory						3,892
Property, plant and equipment						1,342
Other assets						493
Goodwill						17,426
Accounts payable						(2,032)
Accrued liabilities						(489)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net						51,566
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net						51,566
Advance Engine Management Inc [Member] \| Previously Reported [Member] \| Trade Names [Member]
Intangible assets						10,760
Advance Engine Management Inc [Member] \| Previously Reported [Member] \| Customer Relationships [Member]
Intangible assets						14,640
Advance Engine Management Inc [Member] \| Previously Reported [Member] \| Patents [Member]
Intangible assets						1,970
Advance Engine Management Inc [Member] \| Previously Reported [Member] \| Technology-Based Intangible Assets [Member]
Intangible assets						110
Advance Engine Management Inc [Member] \| Revision of Prior Period, Adjustment [Member]
Accounts receivable						(61)
Other assets						(91)
Goodwill						(420)
Accounts payable						110
Accrued liabilities						139
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net						(323)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net						$ (323)
Finspeed Llc [Member]
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net			19,909
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net			19,909
Finspeed Llc [Member] \| Previously Reported [Member]
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net			22,615
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net			$ 22,615

Note 15 - Equity-based Compensation Plans - Summary of Stock Option Activity (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares
Options outstanding, shares (in shares) \| shares	1,709,690
Options outstanding, weighted average exercise price (in dollars per share) \| $ / shares	$ 10.97
Forfeited, shares (in shares) \| shares	(628,770)
Forfeited, weighted average exercise price (in dollars per share) \| $ / shares	$ 11.12
Expired, shares (in shares) \| shares	(194,874)
Expired, weighted average exercise price (in dollars per share) \| $ / shares	$ 10.5
Options outstanding, shares (in shares) \| shares	886,046
Options outstanding, weighted average exercise price (in dollars per share) \| $ / shares	$ 10.97
Options outstanding, weighted average remaining contractual term (Year)	7 years 3 months 29 days
Options outstanding, aggregate intrinsic value \| $	$ 0
Options exercisable, shares (in shares) \| shares	512,370
Options exercisable, weighted average exercise price (in dollars per share) \| $ / shares	$ 10.79
Options exercisable, weighted average remaining contractual term (Year)	6 years 11 months 8 days
Options exercisable, aggregate intrinsic value \| $	$ 0

Note 5 - Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill, Impairment Loss	$ 0	$ 0
Impairment of Intangible Assets, Indefinite-Lived (Excluding Goodwill)	$ 0	2,395	$ 0
Trade Names [Member]
Impairment of Intangible Assets, Indefinite-Lived (Excluding Goodwill)		$ 2,395

Note 16 - Lease Commitments (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2023
Short-Term Lease Commitment, Amount		$ 540
Operating Leases, Rent Expense, Net	$ 8,412
Minimum [Member]
Lessee, Operating Lease, Remaining Lease Term (Year)		1 year
Maximum [Member]
Lessee, Operating Lease, Remaining Lease Term (Year)		14 years

Note 12 - Income Taxes - Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current income tax expense:
Federal	$ 10,909	$ 12,356	$ 7,422
State	927	1,253	323
Foreign	1,715	2,450	2,602
Total current income tax expense	13,551	16,059	10,347
Deferred income tax expense (benefit):
Federal	(5,986)	(8,679)	823
State	811	(2,591)	(552)
Foreign	23	(296)	(189)
Total deferred income tax expense (benefit)	(5,152)	(11,566)	82
Total income tax expense	$ 8,399	$ 4,493	$ 10,429

Note 18 - Acquisition, Restructuring and Management Fee Costs - Summary of Total Acquisitions and Restructuring Costs (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Acquisitions (1)

^[1]

$ 0

$ 1,887

$ 5,074

Restructuring (2)

^[2]

2,641

2,626

1,421

Management fees (3)

^[3]

25,789

Earn out adjustment (4)

^[4]

17,173

Total acquisition and restructuring costs

$ 2,641

$ 4,513

$ 49,457

[1]	Includes professional fees for legal, accounting, consulting, administrative, and other professional services directly attributable to acquisitions.
[2]	Includes costs incurred as part of the restructuring of operations including professional and consulting services and executive severance. 2023 includes executive severance cost of $591, of which $407 was paid during the year and $184 remained accrued as of December 31, 2023.
[3]	Includes acquisition costs and management fees paid to Sentinel Capital Partners, including a fee of $23,275 paid in 2021 upon the Closing of the Business Combination.
[4]	A fair value adjustment to the contingent consideration payable from the Simpson acquisition.

Note 16 - Lease Commitments - Schedule of Future Minimum Rental Payments for Operating Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
2024	$ 6,651
2025	5,202
2026	4,715
2027	4,695
2028	4,442
Thereafter	11,918
Total lease payments	37,623
Less imputed interest	(7,498)
Accrued Liabilities and Other Noncurrent Liabilities [Member]
Present value of lease liabilities	$ 30,125	$ 30,104

Note 11 - Revenue (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from External Customers by Products and Services [Table Text Block]

	For the years ended December 31,
	2023		2022		2021
Electronic systems	$	287,215	$	282,865	$	309,233
Mechanical systems		157,427		165,007		154,878
Exhaust		59,938		66,767		78,179
Accessories		98,899		108,150		85,280
Safety		56,225		65,626		65,277
Net sales	$	659,704	$	688,415	$	692,847

Revenue from External Customers by Geographic Areas [Table Text Block]

	For the years ended December 31,
	2023		2022		2021
United States	$	644,652	$	669,187	$	674,491
Italy		15,052		19,228		18,356
Net sales	$	659,704	$	688,415	$	692,847

Note 7 - Debt (Details Textual) $ in Thousands		12 Months Ended
Note 7 - Debt (Details Textual) $ in Thousands	Nov. 18, 2021 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Feb. 28, 2023 USD ($)	May 31, 2022 USD ($)
Gain (Loss) on Extinguishment of Debt		$ 701	$ (0)	$ (13,650)
Property, Plant and Equipment, Net		47,206	$ 52,181
Revolving Credit Facility [Member]
Debt Instrument, Term (Year)	5 years
Line of Credit Facility, Maximum Borrowing Capacity	$ 125,000
Letter of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity		10,000
Letters of Credit Outstanding, Amount		1,728
Delayed Draw Term Loan [Member]
Debt Instrument, Face Amount	100,000
Debt Instrument, Withdrawn Amount						$ 57,000
First Lien Note Due November 17, 2028 [Member]
Debt Issuance Costs, Gross	$ 13,413
First Lien Note Due November 17, 2028 [Member] \| Term Loan [Member]
Debt Instrument, Term (Year)	7 years
Debt Instrument, Face Amount	$ 600,000
First Lien Note Due November 17, 2028 [Member] \| Delayed Draw Term Loan [Member]
Gain (Loss) on Extinguishment of Debt		701
Debt Instrument, Periodic Payment, Principal	$ 1,643	$ 7,000
Debt Instrument, Periodic Payment, Percentage of Annual Excess Cash FLow		50.00%
Repayments of Long-Term Debt, Total		$ 56,845
Debt Instrument, Repurchase Amount		38,845
Early Repayment of Senior Debt		$ 11,000
The Credit Agreement [Member]
Debt Issuance Costs, Gross					$ 1,427
Debt, Weighted Average Interest Rate		9.20%
Debt Instrument, Covenant, Consolidated Net Leverage Ratio		5.75			7.25
Debt Instrument, Covenant, Minimum Liquidity					$ 45,000
The Credit Agreement [Member] \| Asset Pledged as Collateral [Member] \| Corporate Headquarters [Member]
Property, Plant and Equipment, Net		$ 2,999

Note 5 - Goodwill and Other Intangible Assets - Summary of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets, Gross	$ 310,401	$ 310,401
Finite-Lived Intangible Assets, Accumulated Amortization	(75,101)	(60,544)
Finite-Lived Intangible Assets, Net	235,300	249,857
Trade Names 1 [Member]
Tradenames	175,165	174,998
Customer Relationships [Member]
Finite-Lived Intangible Assets, Gross	269,950	269,950
Finite-Lived Intangible Assets, Accumulated Amortization	(55,732)	(44,178)
Finite-Lived Intangible Assets, Net	214,218	225,772
Trade Names [Member]
Finite-Lived Intangible Assets, Gross	13,775	13,775
Finite-Lived Intangible Assets, Accumulated Amortization	(5,569)	(4,843)
Finite-Lived Intangible Assets, Net	8,206	8,932
Technology-Based Intangible Assets [Member]
Finite-Lived Intangible Assets, Gross	26,676	26,676
Finite-Lived Intangible Assets, Accumulated Amortization	(13,800)	(11,523)
Finite-Lived Intangible Assets, Net	$ 12,876	$ 15,153

Note 4 - Property, Plant and Equipment, Net - Schedule of Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant, and Equipment, Gross	$ 94,286	$ 90,180
Less: accumulated depreciation	47,080	37,999
Property, plant and equipment, net	47,206	52,181
Land [Member]
Property, Plant, and Equipment, Gross	3,326	3,426
Building and Building Improvements [Member]
Property, Plant, and Equipment, Gross	11,404	11,051
Machinery and Equipment [Member]
Property, Plant, and Equipment, Gross	73,332	66,140
Construction in Progress [Member]
Property, Plant, and Equipment, Gross	$ 6,224	$ 9,563

Note 7 - Debt

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Text Block]

DEBT

Debt of the Company consisted of the following:

	December 31,
	2023			2022
First lien term loan due November 17, 2028	$	592,505		$	649,350
Revolver		—			10,000
Other		1,974			2,770
Less unamortized debt issuance costs		(10,308	)		(11,557	)
		584,171			650,563
Less current portion of long-term debt		(7,461	)		(7,000	)
	$	576,710		$	643,563

On November 18, 2021, the Company entered into a credit facility with a syndicate of lenders and Wells Fargo Bank, N.A., as administrative agent for the lenders, letter of credit issuer and swing line lender (the "Credit Agreement"). The financing consists of a seven-year $600,000 first lien term loan, a five-year $125,000 revolving credit facility, and a $100,000 delayed draw term loan. The proceeds of delayed draw loans made after closing were available to the Company to finance acquisitions. Upon the expiration of the delayed draw term loan in May 2022, the Company had drawn $57,000, which is included in the amount outstanding under the first lien term loan due November 17, 2028.

The revolving credit facility includes a letter of credit facility in the amount of $10,000, pursuant to which letters of credit may be issued as long as revolving loans may be advanced and subject to availability under the revolving credit facility. The Company had $1,728 in outstanding letters of credit on December 31, 2023.

In 2021, proceeds from the credit facility were used to repay in full the Company’s obligations under its existing first lien and second lien notes and to pay $13,413 in deferred financing fees related to the refinancing. As a result of the prepayments of the Company’s existing first lien and second lien notes, losses of $13,650 were recognized in 2021 on the early extinguishment of debt due to the write-off of unamortized debt issuance costs.

The first lien term loan is to be repaid in quarterly payments of $1,643 through September 30, 2028, with the balance due upon maturity on November 17, 2028. The Company is required to make annual payments on the term loan in an amount equal to 50% of annual excess cash flow greater than $5,000, as defined in the Credit Agreement. This percentage requirement may decrease or be eliminated if certain leverage ratios are achieved. Based on the Company's results for 2023, no excess cash flow payment is expected to be required in 2024. Any such payments offset future mandatory quarterly payments. The Credit Agreement permits voluntary prepayments at any time, in whole or in part. The Company paid down an aggregate of $56,845 in principal on its outstanding first lien term loan during the year ended December 31, 2023 by repurchasing $38,845 at a discount to par, making a voluntary repayment of $11,000, and making required quarterly payments totaling $7,000. A gain of $701 was recognized on the debt repurchased at a discount to par, net of the write-off of unamortized debt issuance costs.

On December 31, 2023, amounts outstanding under the credit facility accrue interest at a rate equal to either the SOFR or base rate, at the Company's election, plus a specified margin. In the case of revolving credit loans and letter of credit fees, the specified margin is based on the Company's Total Leverage Ratio, as defined in the Credit Agreement. Commitment fees payable under the revolving credit facility are based on the Company's Total Leverage Ratio. On December 31, 2023, the weighted average interest rate on the Company's borrowings under the credit facility was 9.2%.

Obligations under the Credit Agreement are secured by substantially all of the Company’s assets, including a secured interest in the Company's corporate headquarters, with a carrying value of $2,999. The Credit Agreement includes representations and warranties, and affirmative and negative covenants customary for financings of this type, including, but not limited to, limitations on restricted payments, additional borrowings, additional investments, and asset sales. The Credit Agreement also requires that Holley maintain, on the last day of each quarter, a Total Leverage Ratio not to exceed a maximum amount. On December 31, 2023, the Company was in compliance with all financial covenants.

In February 2023, the Company entered into an amendment to its Credit Agreement which, among other things, increases the Total Leverage Ratio applicable under the Credit Agreement as of the fiscal quarter ending April 2, 2023 to initially 7.25:1.00, and provides for modified step-down levels for such covenant thereafter through the fiscal quarter ending March 31, 2024 (the “Covenant Relief Period”). As of December 31, 2023, the required Total Leverage Ratio was 5.75:1.00. As an ongoing condition to the Covenant Relief Period, the Company also agreed to (i) a minimum liquidity test, (ii) an interest coverage test, (iii) an anti-cash hoarding test at any time revolving loans are outstanding, and (iv) additional reporting obligations. Under the amended Credit Agreement, the revolving credit facility contains a minimum liquidity financial covenant of $45,000, which includes unrestricted cash and any available borrowing capacity under the revolving credit facility. In April 2023, the Company entered into a second amendment to the Credit Agreement in which the interest rate on any outstanding borrowings under the Credit Agreement was changed from LIBOR to SOFR. In May 2023, the Company entered into a third amendment to the Credit Agreement in which certain defined terms were clarified. The Company incurred $1,427 of deferred financing fees related to these amendments. On December 31, 2023, the Company was in compliance with all financial covenants.

Some of the lenders that are parties to the Credit Agreement, and their respective affiliates, have various relationships with the Company in the ordinary course of business involving the provision of financial services, including cash management, commercial banking, investment banking or other services.

Future maturities of long-term debt and amortization of debt issuance costs on December 31, 2023, are as follows:

		Debt		Debt Issuance Costs
2024	$	7,461	$	1,770
2025		7,656		1,921
2026		6,571		2,087
2027		6,572		2,271
2028		566,219		2,259
	$	594,479	$	10,308

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Note 18 - Acquisition, Restructuring and Management Fee Costs (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Acquisition, Restructuring and Management Fee Costs [Table Text Block]

	For the years ended December 31,
	2023		2022		2021
Acquisitions ⁽¹⁾	$	—	$	1,887	$	5,074
Restructuring ⁽²⁾		2,641		2,626		1,421
Management fees⁽³⁾		—		—		25,789
Earn out adjustment ⁽⁴⁾		—		—		17,173
Total acquisition and restructuring costs	$	2,641	$	4,513	$	49,457

Note 14 - Benefit Plans

12 Months Ended

Dec. 31, 2023

Defined Benefit Plan [Text Block]

14.

BENEFIT PLANS

On January 28, 2022, the Company approved the termination of its defined benefit pension plan (the "Plan"), effective March 31, 2022. The final distribution of Plan assets pursuant to the termination was not made until the plan termination satisfied all regulatory requirements in the fourth quarter of 2022. Plan participants received their accrued benefits from plan assets by electing either lump sum distributions or annuity contracts with a qualifying third-party annuity provider. The resulting settlement effect of the Plan termination was determined based on prevailing market conditions, the lump sum offer participation rate of eligible participants, the actual lump sum distributions, and annuity purchase rates at the date of distribution. As a result, the Plan recognized a final settlement loss of $154. Prior to termination, the Projected Unit Credit Actuarial Cost Method was used to determine the normal cost of the Plan and estimated pension benefit obligation. The fair value of Plan assets on December 31, 2022, was zero.

The following table shows the changes in the benefit obligation and plan assets and the plan’s funded status.

	December 31,
	2022
Change in Projected Benefit Obligation:
Benefit obligation, January 1	$	6,104
Service cost		113
Interest cost		138
Plan curtailments		(5,185	)
Benefits paid		(299	)
Expenses paid		(149	)
Actuarial (gain) loss		(722	)
Benefit obligation, December 31	$	—
Change in Plan Assets:
Fair value of plan assets, January 1	$	5,242
Actual return on plan assets		(374	)
Employer contributions		765
Plan settlements		(5,185	)
Benefits paid from plan assets		(299	)
Expenses paid		(149	)
Fair value of plan net assets, December 31	$	—
Funded status at end of period	$	—

There was no remaining accumulated benefit obligation for the Plan on December 31, 2022. The Company made contributions of $765 and $471 in 2022 and 2021, respectively. There were no participant contributions in 2022 or 2021.

The pre-tax amounts recognized in other comprehensive income were as follows:

	For the years ended December 31,
	2022			2021
Actuarial gain arising during measurement period	$	(129	)	$	(513	)
Amortization of actuarial loss		(154	)		(25	)
Total recognized in other comprehensive (income) loss	$	(283	)	$	(538	)

The following summarizes the components of net periodic benefit cost for the defined benefit pension plan:

	For the years ended December 31,
	2022			2021
Components of expense:
Service cost	$	113		$	143
Interest cost		138			152
Expected return on plan assets		(218	)		(240	)
Settlement loss recognized		154			—
Amortization of net loss		—			25
Net periodic benefit cost	$	187		$	80

Weighted-average assumptions used to determine net cost:

	December 31,
	2022
Discount rate		2.78	%
Expected return on plan assets		5.20	%

401(k) Plan

The Company has a 401(k) savings plan for salaried and non-salaried employees. Participation in the plan is optional. The Company matches employee contributions up to 3.5% each pay period. The Company's matching contributions for the years ended December 31, 2023, 2022, and 2021, include additional discretionary matching contributions of 1.2%, 0%, and 1% based on the Company's performance targets for 2023, 2022 and 2021, respectively. The Company made matching contributions of $3,154, $2,990, and $2,579 for the years ended December 31, 2023, 2022, and 2021, respectively.

Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2023

SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]

Holley Inc. and Subsidiaries

Schedule II - Valuation and Qualifying Accounts

Years Ended December 31, 2023, 2022, and 2021

			Charged				Charged
	Balance at		(Credited)		Reserves		Against		Balance at
	Beginning of		to Costs and		from		Allowances		End of
	Period		Expenses		Acquisitions		(1) (2)		Period
Accounts receivable reserve:
Year ended December 31, 2021:
Bad debt reserve	$	813	$	809	$	—	$	666	$	956
Cash discount reserve		426		6,173		—		6,169		430
Year ended December 31, 2022:
Bad debt reserve		956		878		—		672		1,162
Cash discount reserve		430		5,941		—		5,983		388
Year ended December 31, 2023:
Bad debt reserve		1,162		1,016		—		1,122		1,056
Cash discount reserve		388		5,991		—		5,858		521

Inventory valuation reserve:
Year ended December 31, 2021:
Expired and obsolete reserve		22,052		3,806		1,226		804		26,280
Year ended December 31, 2022:
Expired and obsolete reserve		26,280		13,410		—		1,156		38,534
Year ended December 31, 2023:
Expired and obsolete reserve		38,534		1,802		—		6,362		33,974
(1) Write-off of uncollectible accounts, net of recoveries.
(2) Write-off of obsolete inventory, net of inventory adjustments.

Note 2 - Business Combination, Acquisitions, and Divestiture - Summary of Pro Forma Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Pro forma net sales	$ 727,369
Pro forma net income	$ (16,248)

Note 6 - Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Accrued Liabilities [Table Text Block]

	December 31,
	2023		2022
Accrued freight	$	5,654	$	6,861
Accrued employee compensation and benefits		11,696		7,635
Accrued returns, allowances and warranties		11,267		8,798
Accrued taxes		1,475		6,697
Current portion of operating lease liabilities		4,948		5,112
Accrued other		7,089		8,214
Total accrued liabilities	$	42,129	$	43,317

Note 12 - Income Taxes - Schedule of Income Before Income Tax, Domestic and Foreign Jurisdictions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
United States	$ 23,971	$ 72,276	$ (24,772)
Foreign	3,608	5,991	8,062
Income (loss) before income taxes	$ 27,579	$ 78,267	$ (16,710)

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Note 1 - Description of the Business, Basis of Presentation, and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

1.	Description of the Business, Basis of Presentation, and Summary of Significant Accounting Policies

Holley Inc., a Delaware corporation headquartered in Bowling Green, Kentucky conducts operations through its wholly owned subsidiaries. These operating subsidiaries are comprised of Holley Performance Products Inc., Hot Rod Brands, Inc., Simpson Safety Solutions, Inc., B&M Racing and Performance Products, Inc., and Speedshop.com, Inc. When used in these notes, the terms the “Company” or “Holley” mean Holley, Inc. and all entities included in its consolidated financial statements.

The Company consummated a Business Combination pursuant to the Merger Agreement, by and among Empower, Merger Sub I, Merger Sub II, and Holley Intermediate on the Closing Date. The Business Combination was accounted for as a reverse recapitalization in accordance with GAAP in which Holley Intermediate was deemed the accounting acquirer with Holley Inc. as the successor registrant. As such, Empower was treated as the acquired company for financial reporting purposes. On the Closing Date, Empower changed its name to Holley Inc. and its trading symbol on the NYSE from “EMPW” to “HLLY.”

The Company designs, manufactures and distributes performance automotive products to customers primarily in the United States, Canada and Europe. The Company is a leading manufacturer of a diversified line of performance automotive products, including carburetors, fuel pumps, fuel injection systems, nitrous oxide injection systems, superchargers, exhaust headers, mufflers, distributors, ignition components, engine tuners and automotive performance plumbing products. The Company is also a leading manufacturer of exhaust products as well as shifters, converters, transmission kits, transmissions, tuners and automotive software. The Company’s products are designed to enhance street, off-road, recreational and competitive vehicle performance through increased horsepower, torque and drivability. The Company has locations in the United States, Canada, Italy and China.

Emerging Growth Company Status

Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company is an emerging growth company, and, as such, has elected to take advantage of the benefits of the extended transition period for new or revised financial accounting standards.

Risks and Uncertainties

The Company's business and results of operations, financial condition, and liquidity are impacted by broad economic conditions including inflation, labor shortages, and disruption of the supply chain, as well as by geopolitical events, including military conflicts (including the conflict in Ukraine, the conflict in Israel and surrounding areas, and the possible expansion of such conflicts). The Company's operations have been adversely impacted by inflationary pressures primarily related to transportation, labor and component costs. Sales growth in certain products has been constrained by supply chain challenges and automotive electronic component shortages. In response to the global supply chain volatility and inflationary impacts, the Company has attempted to minimize potential adverse impacts on its business with cost savings initiatives, price increases to customers, and by closely monitoring inventory levels of certain products and working closely with its suppliers and customers to minimize disruptions in delivering products to customers. Our profitability has been, and may continue to be, adversely affected by constrained consumer demand, a shift in sales to lower-margin products, and demands on our performance that increase our costs. Should the ongoing macroeconomic conditions not improve, or worsen, or if the Company's attempt to mitigate the impact on its supply chain, operations and costs is not successful, the Company’s business, results of operations and financial condition may be adversely affected.

Basis of Presentation

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany transactions and accounts have been eliminated in consolidation.

Reclassifications

Certain previously reported amounts in the accrued liabilities footnote have been reclassified between line items to conform to the current period presentation.

Summary of Significant Accounting Policies

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. These estimates require the use of judgment as future events, and the effect of these events, cannot be predicted with certainty. The estimates will change as new events occur, as more experience is acquired and as more information is obtained. The Company evaluates and updates assumptions and estimates on an ongoing basis and may consult outside experts to assist as considered necessary.

Cash and Cash Equivalents

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. The Company's cash and cash equivalents include cash and deposits, including an overnight sweep account where funds are transferred to an interest-bearing deposit account that is insured by the Federal Deposit Insurance Corporation ("FDIC"). The FDIC insures financial institution deposits up to $250. The Company maintains deposits exceeding $250 in certain accounts at financial institutions in the United States. On December 31, 2023 and 2022, the Company had cash in foreign bank accounts of $4,975 and $5,878, respectively. Cash and cash equivalent in foreign bank accounts are primarily held in Italy. Italian deposits are insured up to €100 per depositor, per bank. The Company maintains deposits exceeding €100 in certain accounts at financial institutions in Italy. The Company has not incurred any losses in these accounts.

Accounts Receivable and Allowance for Credit Losses

Accounts receivable represent amounts due from customers in the ordinary course of business. The receivables are stated at the amount management expects to collect. The Company is subject to risk of loss from uncollectible receivables in excess of its allowance. The Company maintains an allowance for credit losses for estimated losses from customers’ inability to make required payments. In order to estimate the appropriate level of this allowance, the Company analyzes historical bad debts, customer concentrations, current customer creditworthiness, current economic trends and changes in customer payment patterns. Accounts are written off when management determines the account is uncollectable. Interest is not charged on past due accounts.

Inventory Valuation

The Company's inventories are stated at the lower of cost or net realizable value using the first-in, first-out (FIFO) method. Adjustments to reduce the cost of inventory to its net realizable value are made, if required, for estimated excess, obsolescence or impaired balances.

Segments

The Company's operations are managed and reported to its Chief Executive Officer (“CEO”), the Company’s chief operating decision maker, on a consolidated basis. The CEO assesses performance and allocates resources based on the consolidated results of operations. Under this organizational and reporting structure, the Company has one reportable segment.

Goodwill

Goodwill represents the excess of purchase price over the fair value of the net assets of businesses acquired. On an annual basis or whenever events or changes in circumstances indicate the carrying value of goodwill may have been impaired, the Company may perform a qualitative assessment to determine if it is more likely than not that the fair value of the reporting unit is less than its carrying amount, including goodwill. If the Company determines that the fair value of the reporting unit is less than its carrying amount or elects not to perform a qualitative assessment, it will perform a quantitative analysis; otherwise, no further evaluation is necessary. For the quantitative impairment assessment, the Company compares the fair value of the reporting unit to its carrying value, including goodwill. The Company determines the fair value of the reporting unit based on a weighting of income and market approaches. If the fair value of the reporting unit exceeds the carrying value of the net assets assigned to that unit, goodwill is not impaired and no further testing is performed. If the carrying value of the net assets assigned to the reporting unit exceeds the fair value of the reporting unit, then the Company will recognize a loss equal to the excess, limited to the total amount of goodwill allocated to that reporting unit. Impairments, if any, are charged directly to earnings.

Intangible Assets Other Than Goodwill

Tradenames acquired in certain business combinations were determined to have indefinite useful lives and are not amortized, but instead are tested for impairment on an annual basis and when facts and circumstances indicate that the carrying values of the assets may be impaired. If such review indicates an asset’s carrying value may not be recoverable, an impairment loss is recognized for the excess of the carrying value over the fair value of the asset.

As part of separate business acquisitions, the Company’s customer relationships, technology and certain tradenames were identified as definite-lived intangible assets. The customer relationship intangible assets are being amortized over a ten to twenty-five year life based on the attrition rate of customers with a weighted-average amortization period of 23.6 years. The technology intangible assets are being amortized over a five to fourteen year life based on the lifecycle of previous technology with a weighted-average amortization period of 12.1 years. The tradenames are being amortized over a fifteen to twenty year life based on the estimated life of the tradename with a weighted-average amortization period of 19.2 years. The weighted-average amortization period for all amortizable intangibles on a combined basis is 22.5 years.

Property, Plant and Equipment

Property, plant and equipment acquired in various acquisitions have been recorded at fair value. All other property, plant and equipment is recorded at cost. Depreciation and amortization are provided for using the straight-line method over the estimated useful lives of the assets. Estimated useful lives for new property, plant and equipment additions are seven to twenty-five years for buildings, three to ten years for machinery and equipment, and the shorter of the estimated lease term or useful life for leasehold improvements. Maintenance, repairs, and betterments which do not enhance the value of or increase the life of the assets are expensed as incurred.

Leases

Operating lease right of use ("ROU") assets and liabilities are recognized at the commencement date of the lease based on the present value of lease payments over the lease term. The Company's leases may include options to extend or terminate the lease. These options to extend are included in the lease term when it is reasonably certain that the Company will exercise that option. Some leases have variable payments, however, because they are not based on an index or rate, they are not included in the ROU assets and liabilities. Variable payments for real estate leases primarily relate to common area maintenance, insurance, taxes and utilities. Since the Company's leases generally do not provide an implicit rate, the Company applies a portfolio approach using an estimated incremental borrowing rate based on the lease term and other information available at the commencement date in determining the present value of lease payments. The rate applied is based on the currency of the lease. Leases having a lease term of 12 months or less are not recorded on the balance sheet and the related lease expense is recognized on a straight-line basis over the term of the lease. In addition, the Company has applied the practical expedient to account for the lease and non-lease components as a single lease component for all of the Company's leases.

Debt Issuance Costs

Debt issuance costs include fees and costs incurred to obtain financing. Debt issuance costs related to the Company's term loans are presented in the consolidated balance sheet as a direct deduction from the carrying amount of the term loans. These fees and costs are being amortized using the effective interest method over the term of the related loans and are included in interest expense in the Company's consolidated statements of comprehensive income (loss). If the debt is retired before its scheduled maturity date, any remaining unamortized debt issuance costs are written off in the period the debt is retired as a non-operating expense in the statement of operations as loss on the early extinguishment of debt. For the years ended 2023, 2022 and 2021, the amortization of debt issuance costs included in interest expense was $1,780, $1,707, and $3,182, respectively.

Self-Insurance

The Company is self-insured for employee medical and prescription drug benefits up to certain stop loss coverage amounts. The Company accrues an estimate for unpaid claims, as well as incurred but not reported claims, based upon the Company’s claim experience and expectations of future claim activity. The resulting liability and expense are reflected as a component of accrued expenses, cost of sales and selling, general and administrative expenses in the accompanying consolidated balance sheets and consolidated statements of comprehensive income (loss), respectively.

Revenue Recognition

The Company recognizes revenue with customers when control of the promised goods transfers to the customer. This generally occurs when the product is shipped to the customer. Revenue is recorded at the amount of consideration the Company expects to be entitled to in exchange for the delivered goods, which includes an estimate of variable consideration, expected returns, or refunds when applicable. The Company estimates variable consideration, such as sales incentives, by using the most likely amount approach, which considers the single most likely amount from a range of possible consideration amounts. Estimates of variable consideration result in an adjustment to the transaction price such that it is probable that a significant reversal of cumulative revenue would not occur in the future. Sales incentives and allowances are recognized as a reduction to revenue at the time of the related sale. Revenue is recorded net of sales tax. Shipping and handling fees billed to customers are included in net sales, while costs of shipping and handling to customers are included in selling, general and administrative costs.

For more information about the Company’s revenue from contracts with customers, see Note 11, “Revenue”.

Customer Sales Incentives

Sales incentives provided take the form of either sales discounts or rebates and are treated as a reduction of net sales. The Company also maintains a cooperative advertising program with its customers and provides sales incentives to the extent of the estimated value of advertising provided by the customer on behalf of the Company. The costs incurred under the cooperative advertising program are included as a reduction of net sales.

Product Warranty

The Company generally warrants its products against certain manufacturing and other defects. These product warranties are provided for specific periods of time depending on the nature of the product. The accrued product warranty costs are based primarily on historical experience of actual warranty claims and are recorded at the time of the sale. These obligations are recorded within accrued liabilities in the consolidated balance sheets (see also Note 19, “Commitments and Contingencies” for additional information on warranty reserves). Significant judgments and estimates must be made and used in connection with establishing warranty allowances in any accounting period. Revision of these estimates is made, when necessary, based upon changes in these factors.

Sales Returns

Estimated sales returns and allowances are recorded as a charge against gross sales in the period in which the related sales are recognized, net of returns to stock. The Company’s customers are permitted to return new, undamaged products within customer-specific limits (which are generally limited to a specified percentage of their annual purchases) in the event that they have overstocked their inventories. The Company estimates sales returns based primarily upon actual historical returns, planned product discontinuances, and promotional sales. Returned products, which are recorded as inventories, are valued at the lower of cost or net realizable value. The physical condition and marketability of the returned products are the major factors considered in estimating realizable value.

Cost of Goods Sold

Cost of goods sold primarily consists of materials and labor expense in the manufacturing of the Company’s products sold to its customers. Cost of goods sold also includes provisions for excess and obsolete inventory, warranty costs, certain allocated costs for facilities, depreciation and other manufacturing overhead.

Selling, General and Administrative Expenses

Selling, general and administrative expenses include personnel costs for employees in selling, general and administrative functions (including equity-based compensation); costs to operate shop locations, corporate offices and back-office support centers; costs to transport products from facilities to our customers; and other selling, general and administrative expenses, such as professional fees, supplies, and advertising expenses.

Income Taxes

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

The Company recognizes income tax positions only if those positions are “more likely than not” of being sustained upon examination by taxing authorities. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company recognizes interest on liabilities for uncertain tax positions in interest expense and would recognize penalties, if any, in operating expenses in its consolidated income statements. The Company has no amounts accrued for such interest or penalties on December 31, 2023 and 2022. The Company files income tax returns in the U.S. federal jurisdiction and various foreign and state jurisdictions.

On December 31, 2023, the Company had approximately $329 of unrecognized tax benefits. There were no unrecognized tax benefits on December 31, 2022. The statute of limitations remains open for U.S. federal income tax examinations for the years ended December 31, 2020, through December 31, 2022. U.S. state jurisdictions have statues of limitations generally ranging from three to eight years. The Company does not expect the total amount of unrecognized tax benefits to significantly change in the next 12 months.

Impairment or Disposal of Long-Lived Assets

The Company accounts for long-lived assets, including intangible assets subject to amortization, in accordance with the provisions that require long-lived assets, such as property and equipment, be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the sum of undiscounted net cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell.

Advertising

Advertising production costs are expensed the first time the advertising takes place. Total advertising expenses were $5,987, $7,159, and $6,299 for the years ended December 31, 2023, 2022, and 2021, respectively. Advertising costs are classified as a component of selling, general and administrative costs in the accompanying consolidated statements of comprehensive income (loss).

Research and Development Costs

Research, development, pre-production and start-up costs related to both present and future products are expensed as incurred. Such costs amount to $23,844, $29,083, and $28,280 for the years ended December 31, 2023, 2022, and 2021, respectively.

Other Comprehensive Income (Loss)

Comprehensive income (loss) encompasses all changes in stockholder’s equity and includes net income, change in the foreign currency translation adjustment and minimum pension liability gains. The Company’s accumulated other comprehensive loss shown on the consolidated balance sheets on December 31, 2023 and 2022 consists of foreign currency translation adjustments of $710 and $944, respectively.

Foreign Currencies

The functional currency of the Company’s Italian subsidiary is the Euro. Assets and liabilities of foreign operations are translated using period end exchange rates. Revenue and expenses are translated using average exchange rates during each period reported. Translation gains (losses) are reported in accumulated other comprehensive loss as a component of shareholders equity and were $234, ($990), and $30 for the years ended December 31, 2023, 2022 and 2021, respectively. The Company recognizes foreign currency transaction gains (losses) on certain assets and liabilities. These transaction (gains) losses are reported in other expense in the consolidated statements of comprehensive income (loss) and were $278, ($97), and $44 for the years ended December 31, 2023, 2022 and 2021, respectively.

Earnings per Share

Earnings per share is computed by dividing net income or loss available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share is computed by giving effect to all potential dilutive common stock equivalents outstanding for the period. The dilutive effect of these potential common shares is reflected in diluted earnings per share by application of the treasury stock method.

Warrants

The Company accounts for warrants to purchase its common stock as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in Accounting Standards Codification ("ASC") Topic 480, Distinguishing Liabilities from Equity, and ASC Topic 815, Derivatives and Hedging. The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC Topic 480, meet the definition of a liability pursuant to ASC Topic 480, and whether the warrants meet all of the requirements for equity classification under ASC Topic 815, including whether the warrants are indexed to the Company’s own shares and whether the warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding.

Equity-Based Compensation

The Company accounts for equity-based awards granted to employees and nonemployees under the fair value method prescribed by ASC Subtopic 718-10, Stock Compensation. Equity-based compensation cost is measured based on the estimated grant date fair value of the award and is recognized as expense over the requisite service period (generally the vesting period). The fair value of stock options is estimated using the Black Scholes option-pricing model. Restricted stock units are valued at the stock price on the grant date. The fair value of profit interest units granted by the Holley Stockholder is estimated based on the Company’s estimated equity value for each unit class at the time of granting using the Black-Scholes option-pricing model, discounted to reflect market considerations for illiquidity.

Performance share units that vest based on the achievement of company-designated performance targets are valued at the stock price on the grant date. Compensation expense in respect of such performance share units is recognized each period based on the expected level of achievement and, to the extent that the expected levels of achievement change, compensation cost is adjusted in the period of change with the remaining unrecognized cost recognized over the remaining requisite service period. For performance share units that vest based on the achievement of predetermined market conditions, the Company estimates the grant date fair value using a Monte Carlo simulation model. The fair value associated with each tranche of the award is recognized, straight-line, over the associated requisite service period for that tranche, subject to acceleration if the market condition is met prior to the end of the derived service period.

Unless the awards contain a market condition, previously recognized expense related to forfeited awards is reversed in the period in which the forfeiture occurs. For awards containing a market condition, previously recognized stock-based compensation expense is not reversed when the awards are forfeited as long as the service is provided for the duration of the required service period.

Fair Value Measurements

Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimizes the use of unobservable inputs to the extent possible. The inputs used to measure fair value are prioritized based on a three-level hierarchy, which are defined as follows:

Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date.

Level 2 – Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

Level 3 – Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability.

Derivative Financial Instruments

The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC Topic 815, Derivatives and Hedging. For derivative financial instruments that are accounted for as assets or liabilities, the derivative instrument is initially recorded at its fair value on the grant date and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. Derivative assets and liabilities are classified on the balance sheet as current or non-current based on whether or not net cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date.

The Company uses derivative instruments to manage its exposure to changes in interest rates on borrowings under its debt facility. These derivative instruments are primarily valued on the basis of quotes obtained from banks, brokers, and/or dealers. The valuation of the derivative instruments considers future expected interest rates on the notional principal balance remaining, which is comparable to what a prospective acquirer would pay on the measurement date. Valuation pricing models consider inputs such as forward rates, anticipated interest rate volatility relating to the reference rate, as well as time value, counterparty risk and other factors underlying derivative instruments.

Concentration of Credit Risk

Financial instruments, which potentially subject the Company to significant concentrations of credit risk, consist primarily of cash and accounts receivable. The Company controls its exposure to credit risk associated with these instruments by (i) placing cash and cash equivalents with several major financial institutions and (ii) maintaining strict policies over credit extension that include credit evaluations, credit limits and monitoring procedures. For more information on the Company’s net sales to its three largest customers, see Note 17, “Major Reseller Customers”.

Recent Accounting Pronouncements

Accounting Standards Recently Adopted

In October 2021, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. This ASU requires entities to apply the definition of a performance obligation under ASC Topic 606, Revenue from Contracts with Customers, to recognize and measure contract assets and contract liabilities (i.e., deferred revenue) relating to contracts with customers that are acquired in a business combination. Prior to the adoption of ASU 2021-08, an acquirer generally recognized assets acquired, and liabilities assumed in a business combination, including contract assets and contract liabilities arising from revenue contracts with customers, at fair value on the acquisition date. ASU No. 2021-08 results in the acquirer recording acquired contract assets and liabilities on the same basis that would have been recorded by the acquiree before the acquisition under ASC Topic 606. The Company adopted ASU 2021-08 on January 1, 2023. Adoption of ASU 2021-08 did not impact the Company's consolidated financial statements.

Accounting Standards Not Yet Adopted

In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to SEC's Disclosure Update and Simplification Initiative. This ASU amends the disclosure or presentation requirements related to various subtopics in the FASB Accounting Standards Codification. The effective date for each amendment will be the date on which the SEC's removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. The Company will monitor the removal of various requirements from the current regulations in order to determine when to adopt the related amendments, but it does not anticipate that the adoption of the new guidance will have a material impact on the Company’s consolidated financial statements and related disclosures. The Company will continue to evaluate the impact of this guidance on its consolidated financial statements.

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. This ASU expands reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The standard requires interim and annual disclosure of significant segment expenses that are regularly provided to the chief operating decision-maker ("CODM") and included within the reported measure of a segment’s profit or loss, requires interim disclosures about a reportable segment’s profit or loss and assets that are currently required annually, requires disclosure of the position and title of the CODM, clarifies circumstances in which an entity can disclose multiple segment measures of profit or loss, and contains other disclosure requirements. This ASU is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the effect of this new guidance on its consolidated financial statements and related disclosures.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This ASU requires additional disclosures of various income tax components that affect the rate reconciliation based on the applicable taxing jurisdictions, as well as the qualitative and quantitative aspects of those components. The standard also requires information pertaining to taxes paid to be disaggregated for federal, state and foreign taxes, and contains other disclosure requirements. This ASU is effective for fiscal years beginning after December 15, 2024 and interim periods within fiscal years beginning after December 15, 2025, with early adoption permitted. The Company is currently evaluating the effect of this new guidance on its consolidated financial statements and related disclosures.

Note 17 - Major Reseller Customers - Schedules of Concentration of Risk (Details) - Customer Concentration Risk [Member] - Customer A [Member]	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue Benchmark [Member]
Concentration risk, percentage	21.40%	19.20%	19.30%
Accounts Receivable [Member]
Concentration risk, percentage	16.40%	11.30%

Note 3 - Inventory

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Text Block]

3.	INVENTORY

Inventories of the Company consisted of the following:

	December 31,
	2023		2022
Raw materials	$	63,552	$	78,586
Work-in-process		22,619		23,906
Finished goods		106,089		131,081
	$	192,260	$	233,573

Note 18 - Acquisition, Restructuring and Management Fee Costs

12 Months Ended

Dec. 31, 2023

Restructuring, Impairment, and Other Activities Disclosure [Text Block]

18.

ACQUISITION, RESTRUCTURING AND MANAGEMENT FEE COSTS

The following table summarizes total acquisition, restructuring and management fee costs:

	For the years ended December 31,
	2023		2022		2021
Acquisitions ⁽¹⁾	$	—	$	1,887	$	5,074
Restructuring ⁽²⁾		2,641		2,626		1,421
Management fees⁽³⁾		—		—		25,789
Earn out adjustment ⁽⁴⁾		—		—		17,173
Total acquisition and restructuring costs	$	2,641	$	4,513	$	49,457

(1)

Includes professional fees for legal, accounting, consulting, administrative, and other professional services directly attributable to acquisitions.

	(2)	Includes costs incurred as part of the restructuring of operations including professional and consulting services and executive severance. 2023 includes executive severance cost of $591, of which $407 was paid during the year and $184 remained accrued as of December 31, 2023.
	(3)	Includes acquisition costs and management fees paid to Sentinel Capital Partners, including a fee of $23,275 paid in 2021 upon the Closing of the Business Combination.
	(4)	A fair value adjustment to the contingent consideration payable from the Simpson acquisition.

Note 5 - Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Goodwill [Table Text Block]


Balance on December 31, 2021	$	411,383
John's acquisition		240
SKC acquisition		1,270
RaceQuip acquisition		4,348
Measurement period adjustments		880
Balance on December 31, 2022		418,121
Measurement period adjustments		935
Balance on December 31, 2023	$	419,056

Schedule of Intangible Assets [Table Text Block]

	December 31, 2023
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value
Finite-lived intangible assets:
Customer relationships	$	269,950	$	(55,732	)	$	214,218
Tradenames		13,775		(5,569	)		8,206
Technology		26,676		(13,800	)		12,876
Total finite-lived intangible assets	$	310,401	$	(75,101	)	$	235,300

Indefinite-lived intangible assets:
Tradenames	$	175,165		—		$	175,165

	December 31, 2022
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value
Finite-lived intangible assets:
Customer relationships	$	269,950	$	(44,178	)	$	225,772
Tradenames		13,775		(4,843	)		8,932
Technology		26,676		(11,523	)		15,153
Total finite-lived intangible assets	$	310,401	$	(60,544	)	$	249,857

Indefinite-lived intangible assets:
Tradenames	$	174,998		—		$	174,998

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

2024	$	13,744
2025		13,714
2026		13,608
2027		13,601
2028		13,601
Thereafter		167,032
Total	$	235,300

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

Note 12 - Income Taxes - Changes in Unrecognized Tax Benefits (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Gross unrecognized tax benefits, January 1	$ 0
Changes in balance related to tax position taken during prior periods	329
Gross unrecognized tax benefits, December 31	$ 329

Note 16 - Lease Commitments - Schedule of Operating Lease Assets and Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Right-of-use assets	$ 29,250	$ 29,522
Current operating lease liabilities - Accrued liabilities	$ 4,948	$ 5,112
Weighted average remaining lease term (in years) (Year)	7 years 2 months 12 days	7 years 10 months 24 days
Weighted average discount rate	6.21%	5.77%
Accrued Liabilities [Member]
Current operating lease liabilities - Accrued liabilities	$ 4,948	$ 5,112
Other Noncurrent Liabilities [Member]
Long-term operating lease liabilities - Other noncurrent liabilities	25,177	24,992
Accrued Liabilities and Other Noncurrent Liabilities [Member]
Total lease liabilities	$ 30,125	$ 30,104

Note 17 - Major Reseller Customers (Tables)

12 Months Ended

Dec. 31, 2023

Schedules of Concentration of Risk, by Risk Factor [Table Text Block]

	For the years ended December 31,
	2023			2022			2021
Customer A		21.4	%		19.2	%		19.3	%

	December 31,
	2023			2022
Customer A		16.4	%		11.3	%

Note 9 - Derivative Instruments

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Text Block]

9. DERIVATIVE INSTRUMENTS

The Company from time to time enters into derivative financial instruments, such as interest rate collar agreements (each, a “Collar”), to manage its exposure to fluctuations in interest rates on the Company’s variable rate debt. On January 4, 2023, the Company entered into a Collar with Wells Fargo Bank, N.A. ("Wells Fargo") with a notional amount of $500,000 that expires on February 18, 2026. The Collar has a floor of 2.811% and a cap of 5% (based on three-month SOFR). The structure of this Collar is such that the Company receives an incremental amount if the Collar index exceeds the cap rate. Conversely, the Company pays an incremental amount to Wells Fargo if the Collar index falls below the floor rate. No payments are required if the Collar index falls between the cap and floor rates.

On December 31, 2023, the Company recognized a derivative liability of $1,164 for the Collar in other noncurrent liabilities on the consolidated balance sheet. For the year ended December 31, 2023, the Company recorded a net change in the fair value of the Collar as an increase to interest expense of $1,164. Cash receipts for the Collar totaled $620 for the year ended December 31, 2023.

The fair value of the Collar is determined using observable market-based inputs and the impact of credit risk on the derivative’s fair value (the creditworthiness of the Company’s counterparty for assets and the creditworthiness of the Company for liabilities) (a Level 2 measurement, as described in Note 10, "Fair Value Measurements").

Note 15 - Equity-based Compensation Plans - Summary of Restricted Stock Units Activity (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Balance on December 31, 2022 (in shares)

1,108,330

Balance on December 31, 2022 (in dollars per share)

$ 9.43

Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)

^[1]

4,954,177

Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)

$ 2.6

^[1]

$ 5.87

$ 12.06

Vested, shares (in shares)

(823,337)

Vested, weighted average grant date fair value (in dollars per share)

$ 4.96

Forfeited, shares (in shares)

(334,369)

Forfeited, weighted average grant date fair value (in dollars per share)

$ 8.19

Balance on December 31, 2023 (in shares)

4,904,801

1,108,330

Balance on December 31, 2023 (in dollars per share)

$ 2.86

$ 9.43

[1]

Note 16 - Lease Commitments (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Operating Lease Assets and Obligations [Table Text Block]

	December 31,
	2023			2022
Assets:
Operating right of use assets	$	29,250		$	29,522
Liabilities:
Current operating lease liabilities - Accrued liabilities	$	4,948		$	5,112
Long-term operating lease liabilities - Other noncurrent liabilities		25,177			24,992
Total lease liabilities	$	30,125		$	30,104
Lease term and discount rate
Weighted average remaining lease term (in years)		7.2			7.9
Weighted average discount rate		6.21	%		5.77	%

Lease, Cost [Table Text Block]

	For the years ended December 31,
	2023		2022
Components of lease expense:
Operating lease expense	$	6,629	$	7,294
Short-term lease expense		1,953		2,402
Variable lease expense		314		763
Total lease expense	$	8,896	$	10,459
Supplemental cash flow information related to leases:
Cash paid for amounts included in measurement of operating lease liabilities	$	7,024	$	7,311
Right-of-use assets obtained in exchange for new operating lease liabilities		6,531		13,942
Decapitalization of right-of-use assets upon lease termination or modification		1,320		12,658

Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]

2024	$	6,651
2025		5,202
2026		4,715
2027		4,695
2028		4,442
Thereafter		11,918
Total lease payments		37,623
Less imputed interest		(7,498	)
Present value of lease liabilities	$	30,125

Note 6 - Accrued Liabilities - Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accrued freight	$ 5,654	$ 6,861
Accrued employee compensation and benefits	11,696	7,635
Accrued returns, allowances and warranties	11,267	8,798
Accrued taxes	1,475	6,697
Current portion of operating lease liabilities	4,948	5,112
Accrued other	7,089	8,214
Total accrued liabilities	$ 42,129	$ 43,317

Note 12 - Income Taxes - Schedule of Provision and Effective Tax Rates (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Expected tax expense (benefit) at U.S. Federal statutory rates	$ 5,792	$ 16,479	$ (3,510)
State income tax expense (benefit)	1,373	(1,057)	(180)
Permanent tax differences	375	4,275	825
Foreign-derived intangible income deduction	(397)	(298)	0
Global intangible low-taxed income	0	0	375
Section 162(m) limitation	709	0	0
Foreign rate differential	782	560	719
Tax credit	(1,506)	(1,393)	(1,620)
Earn-outs	484	(2,254)	5,470
Change in fair value of Warrants	863	(11,974)	6,842
Transaction costs	0	0	1,465
Other differences, net	(76)	155	43
Total income tax expense	$ 8,399	$ 4,493	$ 10,429

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
ASSETS
Cash and cash equivalents	$ 41,081	$ 26,150
Accounts receivable, less allowance for credit losses of $1,577 and $1,550, respectively	48,360	47,083
Inventory	192,260	233,573
Prepaids and other current assets	15,665	18,157
Total current assets	297,366	324,963
Property, plant, and equipment, net	47,206	52,181
Goodwill	419,056	418,121
Other intangibles assets, net	410,465	424,855
Right-of-use assets	29,250	29,522
Total assets	1,203,343	1,249,642
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	43,692	44,948
Accrued interest	455	5,994
Accrued liabilities	42,129	43,317
Current portion of long-term debt	7,461	7,000
Total current liabilities	93,737	101,259
Long-term debt, net of current portion	576,710	643,563
Warrant liability	8,383	4,272
Earn-out liability	3,479	1,176
Deferred taxes	53,542	58,390
Other noncurrent liabilities	26,341	24,992
Total liabilities	762,192	833,652
Commitments and contingencies (Refer to Note 19 - Commitments and Contingencies)
Stockholders' equity:
Preferred stock, $0.0001 par value, 5,000,000 shares authorized, none issued and outstanding on December 31, 2023 and December 31, 2022	0	0
Common stock, $0.0001 par value, 550,000,000 shares authorized, 117,707,280 and 117,147,997 shares issued and outstanding on December 31, 2023 and December 31, 2022, respectively	12	12
Additional paid-in capital	373,869	368,122
Accumulated other comprehensive loss	(710)	(944)
Retained earnings	67,980	48,800
Total stockholders' equity	441,151	415,990
Total liabilities and stockholders' equity	$ 1,203,343	$ 1,249,642

Note 10 - Fair Value Measurements

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Text Block]

10.

FAIR VALUE MEASUREMENTS

The Company’s financial liabilities subject to fair value measurement on a recurring basis and the level of inputs used for such measurements were as follows:

	Fair Value Measured on December 31, 2023
	Level 1		Level 2		Level 3		Total
Warrant liability (Public)	$	5,480	$	—	$	—	$	5,480
Warrant liability (Private)		—		—		2,903		2,903
Earn-out liability		—		—		3,479		3,479
Interest rate collar liability		—		1,164		—		1,164
Total fair value liabilities	$	5,480	$	1,164	$	6,382	$	13,026

	Fair Value Measured on December 31, 2022
	Level 1		Level 2		Level 3		Total
Warrant liability (Public)	$	2,691	$	—	$	—	$	2,691
Warrant liability (Private)		—		—		1,581		1,581
Earn-out liability		—		—		1,176		1,176
Total fair value liabilities	$	2,691	$	—	$	2,757	$	5,448

On December 31, 2023 and 2022, the Company's liabilities for its Private and Public Warrants, earn-out liability, and Collar are measured at fair value on a recurring basis (see Note 8, “Common Stock Warrants and Earn-Out Liability,” and Note 9, "Derivative Instruments,” for more details). The fair values of the Private Warrants and earn-out liability are determined based on significant inputs not observable in the market (Level 3). These assumptions are believed to be reasonable at the time, but such assumptions are subject to inherent uncertainty. The valuation of the Level 3 liabilities uses assumptions and estimates the Company believes would be made by a market participant in making the same valuation. The Company assesses these assumptions and estimates on an on-going basis as additional data impacting the assumptions and estimates are obtained. The Company uses a Monte Carlo simulation model to estimate the fair value of its Private Warrants and earn-out liability. The fair value of the Collar, which is included in other noncurrent liabilities on the consolidated balance sheet, is determined based on models that reflect the contractual terms of the derivative, yield curves, and the credit quality of the counterparties. Inputs are generally observable and do not contain a high level of subjectivity (Level 2). The fair value of the Public Warrants is determined using publicly traded prices (Level 1). Changes in the fair value of the derivative liabilities related to Warrants and the earn-out liability are recognized as non-operating expense in the consolidated statements of comprehensive income (loss). Changes in the fair value of the Collar are recognized as an adjustment to interest expense in the consolidated statements of comprehensive income (loss). Changes in the fair value of the Warrants, the earn-out liability, and the Collar, along with cash flows associated with the Collar, are presented in operating activities on the consolidated statements of cash flows.

The fair value of Private Warrants was estimated on December 31, 2023 and 2022 using the Monte Carlo simulation model with the following assumptions:

	2023			2022
Valuation date price	$	4.87		$	2.12
Strike price	$	11.50		$	11.50
Remaining life (in years)		2.54			3.54
Expected dividend	$	—		$	—
Risk-free interest rate		4.01	%		4.06	%
Price threshold	$	18.00		$	18.00

The fair value of the earn-out liability was estimated on December 31, 2023 and 2022 using the Monte Carlo simulation model with the following assumptions:

	2023			2022
Valuation date price	$	4.87		$	2.12
Expected term (in years)		4.54			5.54
Expected volatility		67.20	%		70.33	%
Risk-free interest rate		3.79	%		3.88	%
Price hurdle	$	15.00		$	15.00

On December 31, 2023 and 2022, the Company had accounts receivable, accounts payable and accrued expenses for which the carrying value approximates fair value due to the short-term nature of these instruments. The carrying value of the Company’s long-term debt approximates fair value as the rates used approximate the market rates currently available to the Company. Fair value measurements used in the impairment reviews of goodwill and intangible assets are Level 3 measurements.

The reconciliation of changes in Level 3 during the years ended December 31, 2023 and 2022 is as follows:

	Private Warrants			Earn-Out Liability			Total
Balance on December 31, 2021	$	21,793		$	26,596		$	48,389
Liabilities reclassed to equity		—			(14,689	)		(14,689	)
Gains included in earnings		(20,212	)		(10,731	)		(30,943	)
Balance on December 31, 2022	$	1,581		$	1,176		$	2,757
Losses included in earnings		1,322			2,303			3,625
Balance on December 31, 2023	$	2,903		$	3,479		$	6,382

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Sentinel Capital Partners [Member]

Note 13 - Earnings Per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share (in shares)	18,582,576	3,343,784	18,897,603
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share (in shares)	14,633,311	0	14,666,644
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share (in shares)	886,046	1,709,690	1,386,974
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share (in shares)	146,475	540,344	656,485
Performance Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share (in shares)	1,822,994	0	0
Earn Out Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share (in shares)	1,093,750	1,093,750	2,187,500

Note 10 - Fair Value Measurements - Schedule of Value Assets and Liabilities Measured on Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Liability	$ 13,026	$ 5,448
Fair Value, Inputs, Level 1 [Member]
Liability	5,480	2,691
Fair Value, Inputs, Level 2 [Member]
Liability	1,164	0
Fair Value, Inputs, Level 3 [Member]
Liability	6,382	2,757
Warrant Liability Public Warrants [Member]
Liability	5,480	2,691
Warrant Liability Public Warrants [Member] \| Fair Value, Inputs, Level 1 [Member]
Liability	5,480	2,691
Warrant Liability Public Warrants [Member] \| Fair Value, Inputs, Level 2 [Member]
Liability	0	0
Warrant Liability Public Warrants [Member] \| Fair Value, Inputs, Level 3 [Member]
Liability	0	0
Warrant Liability Private Placement Warrants [Member]
Liability	2,903	1,581
Warrant Liability Private Placement Warrants [Member] \| Fair Value, Inputs, Level 1 [Member]
Liability	0	0
Warrant Liability Private Placement Warrants [Member] \| Fair Value, Inputs, Level 2 [Member]
Liability	0	0
Warrant Liability Private Placement Warrants [Member] \| Fair Value, Inputs, Level 3 [Member]
Liability	2,903	1,581
Earn Out Liability [Member]
Liability	3,479	1,176
Earn Out Liability [Member] \| Fair Value, Inputs, Level 1 [Member]
Liability	0	0
Earn Out Liability [Member] \| Fair Value, Inputs, Level 2 [Member]
Liability	0	0
Earn Out Liability [Member] \| Fair Value, Inputs, Level 3 [Member]
Liability	3,479	$ 1,176
Interest Rate Collar Liability [Member]
Liability	1,164
Interest Rate Collar Liability [Member] \| Fair Value, Inputs, Level 1 [Member]
Liability	0
Interest Rate Collar Liability [Member] \| Fair Value, Inputs, Level 2 [Member]
Liability	1,164
Interest Rate Collar Liability [Member] \| Fair Value, Inputs, Level 3 [Member]
Liability	$ 0

Note 18 - Acquisition, Restructuring and Management Fee Costs (Details Textual) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Restructuring Costs

^[1]

$ 2,641

$ 2,626

$ 1,421

Acquisition Costs and Management Fees

$ 23,275

Employee Severance [Member] | Executive Officer [Member]

Restructuring Costs

591

Payments for Restructuring

407

Restructuring Reserve

$ 184

[1]	Includes costs incurred as part of the restructuring of operations including professional and consulting services and executive severance. 2023 includes executive severance cost of $591, of which $407 was paid during the year and $184 remained accrued as of December 31, 2023.

Note 15 - Equity-based Compensation Plans - Schedule of Share-Based Payment Award Equity Instruments Other Than Options Valuation Using Black-Scholes Option Pricing Model (Details) - Performance Shares [Member]	12 Months Ended
	Dec. 31, 2023
Expected volatility	60.50%
Risk-free interest rate	3.67%

Note 17 - Major Reseller Customers

12 Months Ended

Dec. 31, 2023

Concentration Risk Disclosure [Text Block]

17.

MAJOR RESELLER CUSTOMERS

The Company's reseller customers include many large and well-known automotive parts retailers and distributors. The following table summarizes resellers that individually account for more than 5% of the Company’s net sales in any of the periods presented:

	For the years ended December 31,
	2023			2022			2021
Customer A		21.4	%		19.2	%		19.3	%

The following reseller customers accounted for 10% or more of the Company’s account receivable balance in any of the periods presented:

	December 31,
	2023			2022
Customer A		16.4	%		11.3	%

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
OPERATING ACTIVITIES:
Net income (loss)	$ 19,180	$ 73,774	$ (27,139)
Adjustments to reconcile net income (loss) to net cash from operating activities:
Depreciation	10,308	10,107	11,527
Amortization of intangible assets	14,557	14,683	13,999
Impairment of indefinite-lived intangible assets	0	2,395	0
Amortization of deferred loan costs	1,780	1,707	3,182
Amortization of right of use assets	5,480	5,666	0
Gain on termination of leases	0	(279)	0
Fair value adjustments to warrant liability	4,111	(57,021)	32,580
Fair value adjustments to earn-out liability	2,303	(10,731)	8,875
Fair value adjustments to interest rate collar	1,164	0	0
Equity compensation	7,291	24,395	4,963
Change in deferred taxes	(4,848)	(11,655)	(66)
Loss on sale of business	0	1,037	0
Loss (gain) on early extinguishment of long-term debt	(701)	0	13,650
Loss (gain) on disposal of property, plant and equipment	(192)	253	(82)
Provision for inventory reserves	1,802	13,410	4,228
Provision for credit losses	1,016	878	147
Accounts receivable	(2,280)	3,777	464
Inventories	38,199	(58,406)	(45,073)
Prepaids and other current assets	2,555	1,142	(13,408)
Accounts payable	(1,626)	(740)	8,727
Accrued interest	(5,539)	2,635	(3,229)
Accrued and other liabilities	(6,468)	(4,715)	8,238
Net cash provided by operating activities	88,092	12,312	21,583
INVESTING ACTIVITIES:
Capital expenditures	(5,934)	(13,590)	(15,233)
Proceeds from the disposal of fixed assets	1,481	888	364
Proceeds from sale of business	0	1,966	0
Cash paid for acquisitions, net	0	(14,301)	(119,220)
Net cash used in investing activities	(4,453)	(25,037)	(134,089)
FINANCING ACTIVITIES:
Proceeds from issuance of long-term debt	0	37,000	655,000
Deferred financing fees	(1,427)	0	(13,413)
Payment of acquisition contingent consideration	0	0	(9,200)
Proceeds from Business Combination and PIPE financing, net of issuance costs paid	0	0	132,299
Payments from stock-based award activities	(1,543)	(1,050)	0
Proceeds from issuance of common stock in connection with the exercise of Warrants	0	383	0
Net cash (used in) provided by financing activities	(69,008)	2,850	77,157
Effect of foreign currency rate fluctuations on cash	300	(300)	0
Net change in cash and cash equivalents	14,931	(10,175)	(35,349)
Beginning of period	26,150	36,325	71,674
End of period	41,081	26,150	36,325
Supplemental disclosures of cash flow information:
Cash paid for interest	64,693	36,868	38,067
Cash paid for income taxes	16,041	6,834	10,648
Assumption of warrant liability	0	0	28,713
Assumption of earn-out liability	0	0	17,722
Empower Sponsor Holdings LLC [Member]
Supplemental disclosures of cash flow information:
Vested Earn-Out Shares issued to Empower Sponsor Holdings LLC	0	14,689	0
Principal Payment [Member]
FINANCING ACTIVITIES:
Principal payments on long-term debt	$ (66,038)	$ (33,483)	$ (687,529)

Note 10 - Fair Value Measurements - Summary of Assumptions for Estimated Fair Value Using Monte Carlo Simulation Model (Details) - Monte Carlo Simulation Model [Member]	Dec. 31, 2023	Dec. 31, 2022
Measurement Input, Share Price [Member] \| Earn Out Liability [Member]
Alternative Investment, Measurement Input	4.87	2.12
Measurement Input, Share Price [Member] \| Warrant Liability Private Placement Warrants [Member]
Alternative Investment, Measurement Input	4.87	2.12
Measurement Input Strike Price [Member] \| Warrant Liability Private Placement Warrants [Member]
Alternative Investment, Measurement Input	11.5	11.5
Measurement Input, Expected Term [Member] \| Earn Out Liability [Member]
Alternative Investment, Measurement Input	4.54	5.54
Measurement Input, Expected Term [Member] \| Warrant Liability Private Placement Warrants [Member]
Alternative Investment, Measurement Input	2.54	3.54
Measurement Input, Price Volatility [Member] \| Earn Out Liability [Member]
Alternative Investment, Measurement Input	0.672	0.7033
Measurement Input, Risk Free Interest Rate [Member] \| Earn Out Liability [Member]
Alternative Investment, Measurement Input	0.0379	0.0388
Measurement Input, Risk Free Interest Rate [Member] \| Warrant Liability Private Placement Warrants [Member]
Alternative Investment, Measurement Input	0.0401	0.0406
Measurement Input Price Hurdle One [Member] \| Earn Out Liability [Member]
Alternative Investment, Measurement Input	15	15
Measurement Input Price Threshold [Member] \| Warrant Liability Private Placement Warrants [Member]
Alternative Investment, Measurement Input	18	18

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net sales	$ 659,704	$ 688,415	$ 692,847
Cost of goods sold	403,615	434,757	406,040
Gross profit	256,089	253,658	286,807
Selling, general, and administrative	120,244	150,728	116,793
Research and development costs	23,844	29,083	28,280
Amortization of intangible assets	14,557	14,683	13,999
Impairment of indefinite-lived intangible assets	0	2,395	0
Acquisition and restructuring costs	2,641	4,513	23,668
Related party acquisition and management fee costs	0	0	25,789
Other operating expense	765	1,514	755
Total operating expense	162,051	202,916	209,284
Operating income	94,038	50,742	77,523
Fair value adjustments to warrant liability	4,111	(57,021)	32,580
Fair value adjustments to earn-out liability	2,303	(10,731)	8,875
Loss (gain) on early extinguishment of long-term debt	(701)	0	13,650
Interest expense, net	(60,746)	(40,227)	(39,128)
Total non-operating expense (income)	66,459	(27,525)	94,233
Income (loss) before income taxes	27,579	78,267	(16,710)
Income tax expense	8,399	4,493	10,429
Net income (loss)	19,180	73,774	(27,139)
Comprehensive income (loss):
Foreign currency translation adjustment	234	(990)	30
Pension liability gain	0	302	388
Total other comprehensive income (loss)	234	(688)	418
Total comprehensive income (loss)	$ 19,414	$ 73,086	$ (26,721)
Common Share Data:
Weighted average common shares outstanding - basic (in shares)	117,378,854	116,762,928	89,959,993
Weighted average common shares outstanding - diluted (in shares)	118,510,800	117,248,296	89,959,993
Basic net income (loss) per share (in dollars per share)	$ 0.16	$ 0.63	$ (0.3)
Diluted net income (loss) per share (in dollars per share)	$ 0.16	$ 0.14	$ (0.3)

Note 7 - Debt (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Debt [Table Text Block]

	December 31,
	2023			2022
First lien term loan due November 17, 2028	$	592,505		$	649,350
Revolver		—			10,000
Other		1,974			2,770
Less unamortized debt issuance costs		(10,308	)		(11,557	)
		584,171			650,563
Less current portion of long-term debt		(7,461	)		(7,000	)
	$	576,710		$	643,563

Schedule of Maturities of Long-Term Debt [Table Text Block]

		Debt		Debt Issuance Costs
2024	$	7,461	$	1,770
2025		7,656		1,921
2026		6,571		2,087
2027		6,572		2,271
2028		566,219		2,259
	$	594,479	$	10,308

Note 13 - Earnings Per Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Text Block]

13.

EARNINGS PER SHARE

The following table sets forth the calculation of basic and diluted earnings per share:

	For the years ended December 31,
	2023		2022			2021
Numerator:
Net income (loss)	$	19,180	$	73,774		$	(27,139	)
Less: fair value adjustment for Warrants		—		(57,021	)		—
Net income (loss) - diluted	$	19,180	$	16,753		$	(27,139	)
Denominator:
Weighted average common shares outstanding - basic		117,378,854		116,762,928			89,959,993
Dilutive effect of potential common shares from RSUs		952,161		101,290			—
Dilutive effect of potential common shares from PSUs		179,785		—			—
Dilutive effect of potential common shares from Warrants		—		384,078			—
Weighted average common shares outstanding - diluted		118,510,800		117,248,296			89,959,993
Earnings (loss) per share:
Basic	$	0.16	$	0.63		$	(0.30	)
Diluted	$	0.16	$	0.14		$	(0.30	)

The following outstanding shares of common stock equivalents were excluded from the calculation of diluted earnings per share due to the anti-dilutive effect such shares would have on net loss per common share.

	For the years ended December 31,
	2023		2022		2021
Anti-dilutive shares excluded from calculation of diluted EPS:
Warrants		14,633,311		—		14,666,644
Stock options		886,046		1,709,690		1,386,974
Restricted stock units		146,475		540,344		656,485
Performance stock units		1,822,994		—		—
Unvested Earn-Out Shares		1,093,750		1,093,750		2,187,500
Total anti-dilutive shares		18,582,576		3,343,784		18,897,603

Note 10 - Fair Value Measurements - Reconciliation of Changes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Balance	$ 2,757	$ 48,389
Liabilities reclassed to equity		(14,689)
Gains included in earnings	3,625	(30,943)
Balance	6,382	2,757
Private Placement Warrants [Member]
Balance	1,581	21,793
Liabilities reclassed to equity		0
Gains included in earnings	1,322	(20,212)
Balance	2,903	1,581
Earn Out Liability [Member]
Balance	1,176	26,596
Liabilities reclassed to equity		(14,689)
Gains included in earnings	2,303	(10,731)
Balance	$ 3,479	$ 1,176

Note 2 - Business Combination, Acquisitions and Divestiture

12 Months Ended

Dec. 31, 2023

Business Combination Disclosure [Text Block]

2.	BUSINESS COMBINATION, ACQUISITIONS, AND DIVESTITURE BUSINESS COMBINATION

On July 16, 2021, Holley consummated the Business Combination pursuant to the terms of the Merger Agreement, whereby (i) Merger Sub I, a direct wholly owned subsidiary of Empower, merged with and into Holley Intermediate, with Holley Intermediate surviving such merger as a wholly owned subsidiary of Holley (“Merger I”) and (ii) Merger Sub II, a direct wholly owned subsidiary of Empower, merged with and into Holley Intermediate, with Merger Sub II surviving such merger as a wholly owned subsidiary of Holley (“Merger II”).

Pursuant to the Merger Agreement, at the Closing, all outstanding shares of Holley Intermediate common stock as of immediately prior to the effective time of Merger I were cancelled and the Holley Stockholder, the sole stockholder of Holley Intermediate, received $264,718 in cash and 67,673,884 shares of common stock (at a deemed value of $10.00 per share). The Company’s common stock is listed on the NYSE under the symbol “HLLY.”

In connection with the Business Combination, a number of subscribers purchased from the Company an aggregate of 24,000,000 shares of Common Stock (the “PIPE”), for a purchase price of $10.00 per share, or $240,000 in the aggregate. Per the Merger Agreement, $100,000 of the PIPE proceeds were used to partially pay off Holley’s debt.

Pursuant to the Amended and Restated Forward Purchase Agreement (“A&R FPA”), at the Closing, 5,000,000 shares of the Company’s Common Stock and 1,666,667 Warrants were issued to certain investors for an aggregate purchase price of $50,000. Pursuant to the A&R FPA, each Warrant entitles the holder to purchase one share of the Company’s Common Stock at a price of $11.50 per share (the ”Public Warrants”), subject to certain conditions.

The Company also assumed 8,333,310 Public Warrants and 4,666,667 private placement warrants (the “Private Warrants”, and together with the Public Warrants, the “Warrants”) upon the Business Combination, all of which were issued in connection with Empower’s initial public offering. Each Warrant represents the right to purchase one share of the Company’s common stock at a price of $11.50 per share, subject to certain conditions. The Warrants are exercisable commencing on October 9, 2021 (the one-year anniversary of Empower’s initial public offering) and expire on July 16, 2026 (five years after the Closing Date). The Public Warrants are listed on the NYSE under the symbol “HLLY WS.”

Additionally, Empower Sponsor Holdings LLC (the "Sponsor") received 2,187,500 shares of the Company’s common stock, which vest in two equal tranches upon achieving certain market share price milestones as outlined in the Merger Agreement during the earn-out period (“the “Earn-Out Shares”). The first tranche of Earn-Out Shares vested during the first quarter of 2022. The remaining tranche of Earn-Out Shares will be forfeited if the applicable conditions are not satisfied before July 16, 2028 (seven years after the Closing Date).

The Business Combination was accounted for as a reverse recapitalization in accordance with U.S. GAAP. This determination was primarily based on the Holley Stockholder having a relative majority of the voting power of the Company, the operations of Holley prior to the acquisition comprising the only ongoing operations of the Company, and senior management of Holley comprising the majority of the senior management of the Company. Under this method of accounting, Empower was treated as the acquired company for financial reporting. Accordingly, the Business Combination was accounted for as the equivalent of Holley issuing stock for the net assets of Empower, accompanied by a recapitalization. The net assets of Empower are stated at historical cost, with no goodwill or other intangible assets recorded. Reported amounts from operations included herein prior to the Business Combination are those of Holley Intermediate. The shares and corresponding capital amounts and earnings per share, prior to the Business Combination, have been retroactively restated based on shares received by the Holley Stockholder.

The following table reconciles the elements of the Business Combination to the consolidated statements of cash flows for the year ended December 31, 2021:

	Recapitalization
Cash - Empower's trust and cash (net of redemptions of $99,353 and transaction costs of $44,314)	$	107,017
Cash - Forward Purchase Agreement		50,000
Cash - PIPE Financing		240,000
Net cash provided by Business Combination and PIPE Financing		397,017
Less: cash consideration paid to Holley Stockholder		(264,718	)
Net contributions from Business Combination and PIPE Financing	$	132,299

ACQUISITIONS

During the three years ended December 31, 2023, the Company completed 11 acquisitions. These acquisitions are expected to enhance the Company's portfolio of products and services in the automotive aftermarket and automotive safety solutions market.

The Company accounts for acquisitions using the acquisition method, and accordingly, the purchase price has been allocated based upon the fair value of the assets acquired and liabilities assumed. The valuation of the assets acquired and liabilities assumed is subject to revision. If additional information becomes available, the Company may further revise the purchase price allocation as soon as practical, but no later than one year from the acquisition date; however, material changes are not expected. Goodwill generated by the acquisitions is primarily attributable to the strong market position of the entities acquired.

Purchase price consideration for all acquisitions was paid primarily in cash. All acquisitions were for 100 percent of the acquired business and are reported in the Consolidated Statements of Cash Flows, net of acquired cash and cash equivalents. Acquisition-related costs, including advisory, legal, accounting, valuation and other costs, are typically expensed in the periods in which the costs are incurred and are recorded in acquisition and restructuring costs. The results of operations of acquired businesses are included in the consolidated financial statements from the acquisition date.

In 2022, the Company acquired substantially all the assets of John's Ind., Inc., Southern Kentucky Classics, and Vesta Motorsports USA, Inc., doing business as RaceQuip. These acquisitions were immaterial business combinations. Cash paid for the three acquisitions, net of cash acquired, was $14,863, and was funded with borrowings from the Company's credit facility and cash on hand. The acquisitions resulted in both amortizable and nonamortizable intangibles and goodwill totaling $10,553. The goodwill and intangibles generated as a result of these acquisitions are deductible for income tax purposes. Pro forma results of operations and the results of operations since the acquisition dates for these immaterial acquisitions have not been separately disclosed because the effects were not significant compared to the consolidated financial statements, individually or in the aggregate.

The determination of the final purchase price allocation to specific assets acquired and liabilities assumed was adjusted to reflect the final fair value estimate of acquired assets and liabilities, as noted below. The allocation of the purchase price to the assets acquired and liabilities assumed was based on estimates of the fair value of the net assets as follows:

	2022			Measurement Period			2022
	(as initially reported)			Adjustments			(as adjusted)
Accounts receivable	$	959		$	(397	)	$	562
Inventory		3,481			146			3,627
Property, plant and equipment		275			—			275
Other assets		1,132			(1,108	)		24
Tradenames		1,689			—			1,689
Customer relationships		1,512			—			1,512
Goodwill		5,858			1,494			7,352
Accounts payable		(25	)		(133	)		(158	)
Accrued liabilities		(18	)		(2	)		(20	)
	$	14,863		$	—		$	14,863

The fair value of the acquired customer relationship intangible asset was estimated using the excess earnings approach. The customer relationship intangible asset is being amortized based on the attrition rate of customers which was determined to be 20 years. The fair value of the acquired tradenames intangible asset was estimated using the relief from royalty method, a form of the income approach. The tradenames were determined to have an indefinite life.

In 2021, the Company acquired substantially all the assets of Finspeed, LLC, Classic Instruments LLC, ADS Precision Machining, Inc., doing business as Arizona Desert Shocks, Rocket Performance Machine, Inc., doing business as Rocket Racing Wheels, and Speartech Fuel Injections Systems, Inc. These five acquisitions were individually immaterial business combinations that are material in the aggregate. Cash paid for the five immaterial acquisitions, net of cash acquired, was $19,909, and was funded with borrowings from the Company's credit facility and cash on hand. The acquisitions resulted in both amortizable and non-amortizable intangibles and goodwill totaling $13,247. The goodwill and intangibles generated as a result of these acquisitions are deductible for income tax purposes. Pro forma results of operations and the results of operations since the acquisition dates for these immaterial acquisitions have not been separately disclosed because the effects were not significant compared to the consolidated financial statements, individually or in the aggregate.

	2021			Measurement Period			2021
	(as initially reported)			Adjustments			(as adjusted)
Cash	$	122		$	—		$	122
Accounts receivable		618			—			618
Inventory		3,975			—			3,975
Property, plant and equipment		2,274			—			2,274
Other assets		23			—			23
Tradenames		2,608			—			2,608
Customer relationships		2,450			—			2,450
Goodwill		11,017			(2,828	)		8,189
Accounts payable		(343	)		—			(343	)
Accrued liabilities		(129	)		122			(7	)
	$	22,615		$	(2,706	)	$	19,909

The fair value of the acquired customer relationship intangible assets was estimated using the excess earnings approach. The customer relationship intangible assets are being amortized based on the attrition rate of customers which have an estimated weighted average life of 18 years. The fair value of the acquired tradenames intangible asset was estimated using the relief from royalty method, a form of the income approach. The tradenames were determined to have an indefinite life.

The remaining three acquisitions completed during the year ended December 31, 2021 are described below.

Baer, Inc.

On December 23, 2021, the Company acquired substantially all the assets and liabilities of Baer, Inc., doing business as Baer Brakes ("Baer"). Consideration for the assets acquired was cash payments of $22,170. The acquisition resulted in both amortizable and non-amortizable intangibles and goodwill totaling $18,989. The goodwill and intangibles generated as a result of this acquisition are deductible for income tax purposes. The purchase price was funded with borrowings from the Company's credit facility and cash on hand.

	December 23, 2021			Measurement Period			December 23, 2021
	(as initially reported)			Adjustments			(as adjusted)
Accounts receivable	$	627		$	—		$	627
Inventory		1,813			—			1,813
Property, plant and equipment		695			—			695
Other assets		76			—			76
Tradenames		4,630			—			4,630
Customer relationships		6,075			—			6,075
Goodwill		8,363			(79	)		8,284
Accounts payable		(81	)		79			(2	)
Accrued liabilities		(28	)		—			(28	)
	$	22,170		$	—		$	22,170

The contractual value of the accounts receivable acquired was $800.

The Company incurred transaction costs in the amount of $222, which are reflected in operating expenses for the year ended December 31, 2021.

Brothers Mail Order Industries, Inc.

On December 16, 2021, the Company acquired substantially all the assets and liabilities of Brothers Mail Order Industries, Inc., doing business as Brothers Trucks ("Brothers"). Consideration for the assets acquired was cash payments of $26,135. The acquisition resulted in non-amortizable intangibles and goodwill totaling $24,835. The goodwill and intangibles generated as a result of this acquisition are deductible for income tax purposes. The purchase price was funded with borrowings from the Company's credit facility and cash on hand.

	December 16, 2021			Measurement Period		December 16, 2021
	(as initially reported)			Adjustments		(as adjusted)
Accounts receivable	$	22		$	—	$	22
Inventory		1,682			—		1,682
Property, plant and equipment		20			—		20
Other assets		13			—		13
Tradenames		4,975			—		4,975
Goodwill		19,561			299		19,860
Accounts payable		(34	)		—		(34	)
Accrued liabilities		(403	)		—		(403	)
	$	25,836		$	299	$	26,135

The fair value of the acquired tradenames intangible asset was estimated using the relief from royalty method, a form of the income approach. The tradenames were determined to have an indefinite life.

The contractual value of the accounts receivable acquired was $22.

The Company incurred transaction costs in the amount of $191, which are reflected in operating expenses for the year ended December 31, 2021.

Advance Engine Management Inc.

On April 14, 2021, the Company acquired substantially all the assets and liabilities of Advance Engine Management Inc. doing business as AEM Performance Electronics (“AEM”). Consideration for the assets acquired was cash payments of $51,243. The acquisition resulted in both amortizable and non-amortizable intangibles and goodwill, totaling $44,486. The goodwill and intangibles generated as a result of this acquisition are deductible for income tax purposes. The purchase price was funded from cash on hand.

	April 14, 2021			Measurement Period			April 14, 2021
	(as initially reported)			Adjustments			(as adjusted)
Accounts receivable	$	3,454		$	(61	)	$	3,393
Inventory		3,892			—			3,892
Property, plant and equipment		1,342			—			1,342
Other assets		493			(91	)		402
Tradenames		10,760			—			10,760
Customer relationships		14,640			—			14,640
Patents		1,970			—			1,970
Technology intangibles		110			—			110
Goodwill		17,426			(420	)		17,006
Accounts payable		(2,032	)		110			(1,922	)
Accrued liabilities		(489	)		139			(350	)
	$	51,566		$	(323	)	$	51,243

The fair value of the acquired customer relationship intangible asset was estimated using the excess earnings approach. The customer relationship intangible asset is being amortized based on the attrition rate of customers which was determined to be 20 years. The fair value of the acquired tradenames and patents intangible assets were estimated using the relief from royalty method, a form of the income approach. The tradenames were determined to have an indefinite life. The patents are being amortized over 13 years based on the weighted average remaining life of the patent portfolio.

The contractual value of the accounts receivable acquired was $3,454.

The Company’s results for the year ended December 31, 2021, include $16,593 of net sales and $2,664 of net income from AEM since the date of acquisition. The Company incurred transaction costs in the amount of $2,264, which are reflected in operating expenses for the year ended December 31, 2021.

The following table provides the unaudited consolidated pro forma results for the periods presented as if Baer, Brothers, and AEM had been acquired as of January 1, 2021.

	For the year ended December 31,
	2021
Pro forma net sales	$	727,369
Pro forma net income		(16,248	)

The pro forma results include the effects of the amortization of purchased intangible assets and acquired inventory step-up. The pro forma results are based upon unaudited financial information of the acquired entity and are presented for informational purposes only and are not necessarily indicative of the results of future operations or the results that would have occurred had the acquisitions taken place in the periods noted.

DIVESTITURE

In the fourth quarter of 2022, the Company made the decision to sell Finspeed in connection with a strategic review of its product portfolio. Finspeed generated approximately $426 in net sales in 2022. The Company received $1,966 cash consideration and recorded a pre-tax loss of $1,037 on the sale of the business, which included a $268 write-down of intangible assets, and was reported as other operating expense in the Consolidated Statements of Comprehensive Income (Loss).

Note 14 - Benefit Plans (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan, Accumulated Benefit Obligation		$ 0
Defined Benefit Plan, Plan Assets, Contributions by Employer		765	$ 471
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant		$ 0	$ 0
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	3.50%
Defined Contribution Plan, Employer Discretionary Contribution, Percent of Match	1.20%	0.00%	1.00%
Defined Contribution Pension [Member]
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)		$ 154
The 401K [Member]
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 3,154	$ 2,990	$ 2,579

Note 8 - Common Stock Warrants and Earn-out Liability (Details Textual) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended	12 Months Ended
	Jul. 16, 2021	Apr. 03, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Oct. 09, 2021
Class of Warrant or Right, Outstanding (in shares)			14,633,311	14,633,311		14,666,644
Warrant Liability			$ 8,383	$ 4,272
Fair Value Adjustment of Warrants			4,111	(57,021)	$ 32,580
Business Combination, Contingent Consideration, Liability, Noncurrent			3,479	1,176
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability			2,303	(10,731)	$ 8,875
Empower Sponsor Holdings LLC [Member]
Business Combination, Contingent Consideration, Liability, Noncurrent			3,479	1,176
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability			$ 2,303	$ (10,731)
Empower Sponsor Holdings LLC [Member] \| Earn Out Shares [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares)	2,187,500
Empower Sponsor Holdings LLC [Member] \| Tranche One [Member]
Stock Issued During Period, Shares, Acquisitions (in shares)		1,093,750
Stock Issued During Period, Value, Acquisitions		$ 14,689
Public Warrants [Member]
Class of Warrant or Right, Outstanding (in shares)						9,999,977
Public Warrants [Member] \| Measurement Input, Share Price [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)						$ 0.01
Share Price (in dollars per share)						18
Public Warrants [Member] \| Measurement Input Share Price1 [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)						0.1
Share Price (in dollars per share)						$ 10
Private Placement Warrants [Member]
Class of Warrant or Right, Outstanding (in shares)						4,666,667
Private and Public Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares)						1
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)						$ 11.5
Warrants and Rights Outstanding, Term (Year)						5 years

Note 11 - Revenue

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Text Block]

11.

REVENUE

The principal activity from which the Company generates its revenue is the manufacturing and distribution of after-market automotive parts for its customers, comprised of resellers and end users. The Company recognizes revenue at a point in time, rather than over time, as the performance obligation is satisfied when customer obtains control of the product upon title transfer and not as the product is manufactured or developed. The amount of revenue recognized is based on the purchase order price and adjusted for revenue allocated to variable consideration (i.e., estimated rebates, co-op advertising, etc.).

The Company collects sales tax and other taxes concurrent with revenue-producing activities which are excluded from revenue. Shipping and handling costs incurred after control of the product is transferred to our customers are treated as fulfillment costs and not a separate performance obligation.

The Company allows customers to return products when certain Company-established criteria are met. These sales returns are recorded as a charge against gross sales in the period in which the related sales are recognized, net of returns to stock. Returned products, which are recorded as inventories, are valued at the lower of cost or net realizable value. The physical condition and marketability of the returned products are the major factors considered in estimating realizable value. The Company also estimates expected sales returns and records the necessary adjustment as a charge against gross sales.

The Company’s payment terms with customers are customary and vary by customer and geography but typically range from 30 to 365 days. The Company elected the practical expedient to disregard the possible existence of a significant financing component related to payment on contracts, as the Company expects that customers will pay for the products within one year. The Company has evaluated the terms of its arrangements and determined that they do not contain significant financing components. Additionally, as all contracts with customers have an expected duration of one year or less, the Company has elected the practical expedient to exclude disclosure of information regarding the aggregate amount and future timing of performance obligations that are unsatisfied or partially satisfied as of the end of the reporting period. The Company provides limited warranties on most of its products against certain manufacturing and other defects. Provisions for estimated expenses related to product warranty are made at the time products are sold. Refer to Note 19, “Commitments and Contingencies” for more information.

The following table summarizes total revenue by product category. The Company's product category definitions have been revised by management in 2022. The prior-year period has been revised to conform with the current presentation. There is no change to total sales.

	For the years ended December 31,
	2023		2022		2021
Electronic systems	$	287,215	$	282,865	$	309,233
Mechanical systems		157,427		165,007		154,878
Exhaust		59,938		66,767		78,179
Accessories		98,899		108,150		85,280
Safety		56,225		65,626		65,277
Net sales	$	659,704	$	688,415	$	692,847

The following table summarizes total revenue based on geographic location from which the product is shipped:

	For the years ended December 31,
	2023		2022		2021
United States	$	644,652	$	669,187	$	674,491
Italy		15,052		19,228		18,356
Net sales	$	659,704	$	688,415	$	692,847

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
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-Subparagraph (e)
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (b)(2)
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
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-URI https://asc.fasb.org//606/tableOfContent

Note 16 - Lease Commitments

12 Months Ended

Dec. 31, 2023

Lessee, Operating Leases [Text Block]

16.

LEASE COMMITMENTS

The Company leases retail stores, manufacturing, distribution, engineering, and research and development facilities, office space, equipment, and automobiles under operating lease agreements. Leases have remaining lease terms of one to 14 years, inclusive of renewal options that the Company is reasonably certain to exercise. Taxes, insurance and maintenance expenses relating to all leases are obligations of the Company.

The following table summarizes operating lease assets and obligations and provides information associated with the measurement of operating lease obligations:

	December 31,
	2023			2022
Assets:
Operating right of use assets	$	29,250		$	29,522
Liabilities:
Current operating lease liabilities - Accrued liabilities	$	4,948		$	5,112
Long-term operating lease liabilities - Other noncurrent liabilities		25,177			24,992
Total lease liabilities	$	30,125		$	30,104
Lease term and discount rate
Weighted average remaining lease term (in years)		7.2			7.9
Weighted average discount rate		6.21	%		5.77	%

The following summarizes the components of operating lease expense and provides supplemental cash flow information for operating leases:

	For the years ended December 31,
	2023		2022
Components of lease expense:
Operating lease expense	$	6,629	$	7,294
Short-term lease expense		1,953		2,402
Variable lease expense		314		763
Total lease expense	$	8,896	$	10,459
Supplemental cash flow information related to leases:
Cash paid for amounts included in measurement of operating lease liabilities	$	7,024	$	7,311
Right-of-use assets obtained in exchange for new operating lease liabilities		6,531		13,942
Decapitalization of right-of-use assets upon lease termination or modification		1,320		12,658

The short-term lease expense for the period does not reasonably reflect the Company's short-term lease commitments. The Company's short-term lease commitments as of December 31, 2023, were approximately $540.

The following table summarizes the maturities of the Company's operating lease liabilities on December 31, 2023:

2024	$	6,651
2025		5,202
2026		4,715
2027		4,695
2028		4,442
Thereafter		11,918
Total lease payments		37,623
Less imputed interest		(7,498	)
Present value of lease liabilities	$	30,125

For the year ended December 31, 2021, total rent expense under operating leases approximated $8,412.

Schedule II - Valuation and Qualifying Accounts - Valuation and Qualifying Accounts (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

SEC Schedule, 12-09, Allowance, Credit Loss [Member]

Charged (credited) to costs and expenses

$ 1,162

$ 956

$ 813

1,016

878

809

Reserves from acquisitions

Charged against allowances

^[1],[2]

1,122

672

666

SEC Schedule, 12-09, Allowance, Cash Discount Reserve [Member]

1,056

1,162

956

Charged (credited) to costs and expenses

388

430

426

5,991

5,941

6,173

Reserves from acquisitions

Charged against allowances

^[1],[2]

5,858

5,983

6,169

SEC Schedule, 12-09, Reserve, Inventory [Member]

521

388

430

Charged (credited) to costs and expenses

38,534

26,280

22,052

1,802

13,410

3,806

Reserves from acquisitions

1,226

Charged against allowances

^[1],[2]

6,362

1,156

804

$ 33,974

$ 38,534

$ 26,280

[1]	Write-off of obsolete inventory, net of inventory adjustments.
[2]	Write-off of uncollectible accounts, net of recoveries.

Note 7 - Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Long-Term Debt, Gross	$ 594,479
Other	1,974	$ 2,770
Less unamortized debt issuance costs	(10,308)	(11,557)
Long-Term Debt	584,171	650,563
Less current portion of long-term debt	(7,461)	(7,000)
Long-Term Debt, Excluding Current Maturities	576,710	643,563
Revolving Credit Facility [Member]
Long-Term Debt, Gross	0	10,000
First Lien Note Due November 17, 2028 [Member]
Long-Term Debt, Gross	$ 592,505	$ 649,350

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

Note 8 - Common Stock Warrants and Earn-out Liability

12 Months Ended

Dec. 31, 2023

Warrant Liability [Text Block]

8.	COMMON STOCK WARRANTS AND EARN-OUT LIABILITY

Upon the Closing, there were 14,666,644 Warrants, consisting of 9,999,977 Public Warrants and 4,666,667 Private Warrants, outstanding to purchase shares of the Company's common stock that were issued by Empower prior to the Business Combination. Each Warrant entitles the registered holder to purchase one share of Common Stock at a price of $11.50 per share, subject to adjustments, commencing on October 9, 2021 (the one-year anniversary of Empower’s initial public offering), provided that the Company has an effective registration statement under the Securities Act covering the shares of Common Stock issuable upon exercise of the Warrants and a current prospectus relating to them is available and such shares are registered, qualified or exempt from registration under the securities laws of the state of residence of the holder. The Warrants may be exercised only for a whole number of shares of Common Stock. The Warrants expire on July 16, 2026, the date that is five years after the Closing date, or earlier upon redemption or liquidation. Additionally, the Private Warrants will be non-redeemable and are exercisable on a cashless basis so long as they are held by the Sponsor or any of its permitted transferees. If the Private Warrants are held by someone other than the Sponsor or its permitted transferees, the Private Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants.

The Company may redeem the Public Warrants at a price of $0.01 per warrant upon 30 days' notice if the closing price of the Company’s common stock equals or exceeds $18.00 per share, subject to adjustments, on the trading day prior to the date on which notice of redemption is given, provided there is an effective registration statement and current prospectus in effect with respect to the ordinary shares underlying such Warrants throughout the 30-day redemption period. If the foregoing conditions are satisfied and the Company issues a notice of redemption of the Warrants, the Warrant holder is entitled to exercise his, her or its Warrant prior to the scheduled redemption date. Any such exercise requires the Warrant holder to pay the exercise price for each Warrant being exercised. Further, the Company may redeem the Public Warrants at a price of $0.10 per warrant upon 30 days' notice if the closing price of Common Stock equals or exceeds $10.00 per share, subject to adjustments, on the trading day prior to the date on which notice of redemption is given. Beginning on the date the notice of redemption is given until the Warrants are redeemed or exercised, holders may elect to exercise their Warrants on a cashless basis and receive that number of shares of Common Stock as determined by reference to a table in the warrant agreement.

During any period when the Company has failed to maintain an effective registration statement, warrant holders may exercise Warrants on a cashless basis in accordance with Section 3(a)(9) of the Securities Act or another exemption, but the Company will use its commercially reasonable best efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available.

The Warrants are accounted for as a liability in accordance with ASC Subtopic 815-40, Derivatives and Hedging - Contracts in Entity's Own Equity, and are presented as a warrant liability on the balance sheet. The warrant liability was measured at fair value at inception and on a recurring basis, with changes in fair value recognized as non-operating expense. On December 31, 2023 and 2022, a warrant liability with a fair value of $8,383 and $4,272, respectively, was reflected as a long-term liability in the consolidated balance sheet. As of both December 31, 2023 and 2022, there were 14,633,311 Warrants outstanding. For the year ended December 31, 2023, an increase of $4,111 in the fair value of the warrant liability as compared to a decrease of $57,021 in the fair value of the warrant liability for the year ended December 31, 2022, was reflected as change in fair value of warrant liability in the consolidated statements of comprehensive income.

Additionally, the Sponsor received 2,187,500 shares of Common Stock upon the Closing, which vest in two equal tranches upon achievement of certain market share price milestones during the earn-out period, as outlined in the Merger Agreement (the “Earn-Out Shares”). The first tranche of Earn-Out Shares vested during the first quarter of 2022. Upon vesting, the first tranche of 1,093,750 Earn-Out Shares were issued and a liability of $14,689, representing the fair value of the shares on the date of vesting, was reclassified from liabilities to equity. The remaining tranche of Earn-Out Shares will be forfeited if the applicable conditions are not satisfied before July 16, 2028 (seven years after the Closing Date). The unvested Earn-Out Shares are presented as an earn-out liability on the balance sheet and are remeasured at fair value with changes in fair value recognized as non-operating expense. On December 31, 2023 and 2022, an earn-out liability with a fair value of $3,479 and $1,176, respectively, was reflected as a long-term liability in the consolidated balance sheet. For the year ended December 31, 2023, an increase of $2,303 in the fair value of the earn-out liability as compared to a decrease of $10,731 in the fair value of the earn-out liability for the year ended December 31, 2022, was reflected as change in fair value of earn-out liability in the consolidated statements of comprehensive income.

Note 12 - Income Taxes - Change in the Valuation Allowance for Deferred Tax Assets (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Valuation allowance, January 1	$ (0)
Additions charged to expense accounts	5
Valuation allowance, December 31	$ 5

Note 5 - Goodwill and Other Intangible Assets - Schedule of Goodwill (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Measurement period adjustments

$ 418,121

$ 411,383

^[1]

935

880

Johns Acquisition [Member]

$ 419,056

418,121

Acquisition

240

Southern Kentucky Classics [Member]

Acquisition

1,270

RaceQuip [Member]

Acquisition

$ 4,348

[1]	See Note 2, "Business Combination, Acquisitions, and Divestiture"

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

Note 11 - Revenue - Summary of Revenue by Product Category (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net sales	$ 659,704	$ 688,415	$ 692,847
Electronic Systems [Member]
Net sales	287,215	282,865	309,233
Mechanical System [Member]
Net sales	157,427	165,007	154,878
Exhaust [Member]
Net sales	59,938	66,767	78,179
Accessories [Member]
Net sales	98,899	108,150	85,280
Safety [Member]
Net sales	$ 56,225	$ 65,626	$ 65,277

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 22
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 32
-Subparagraph (a)
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 4
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

Note 13 - Earnings Per Share - Schedule of Basic and Diluted Earning Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net income (loss)	$ 19,180	$ 73,774	$ (27,139)
Less: fair value adjustment for Warrants	0	(57,021)	0
Net income (loss) - diluted	$ 19,180	$ 16,753	$ (27,139)
Weighted average common shares outstanding - basic (in shares)	117,378,854	116,762,928	89,959,993
Dilutive effect of potential common shares from Warrants (in shares)	0	384,078	0
Weighted average common shares outstanding - diluted (in shares)	118,510,800	117,248,296	89,959,993
Earnings (loss) per share:
Basic net income (loss) per share (in dollars per share)	$ 0.16	$ 0.63	$ (0.3)
Diluted net income (loss) per share (in dollars per share)	$ 0.16	$ 0.14	$ (0.3)
Restricted Stock Units (RSUs) [Member]
Dilutive effect of potential common shares from share-based payment arrangement (in shares)	952,161	101,290	0
Performance Shares [Member]
Dilutive effect of potential common shares from share-based payment arrangement (in shares)	179,785	0	0

Note 10 - Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

	Fair Value Measured on December 31, 2023
	Level 1		Level 2		Level 3		Total
Warrant liability (Public)	$	5,480	$	—	$	—	$	5,480
Warrant liability (Private)		—		—		2,903		2,903
Earn-out liability		—		—		3,479		3,479
Interest rate collar liability		—		1,164		—		1,164
Total fair value liabilities	$	5,480	$	1,164	$	6,382	$	13,026

	Fair Value Measured on December 31, 2022
	Level 1		Level 2		Level 3		Total
Warrant liability (Public)	$	2,691	$	—	$	—	$	2,691
Warrant liability (Private)		—		—		1,581		1,581
Earn-out liability		—		—		1,176		1,176
Total fair value liabilities	$	2,691	$	—	$	2,757	$	5,448

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

	2023			2022
Valuation date price	$	4.87		$	2.12
Strike price	$	11.50		$	11.50
Remaining life (in years)		2.54			3.54
Expected dividend	$	—		$	—
Risk-free interest rate		4.01	%		4.06	%
Price threshold	$	18.00		$	18.00

	2023			2022
Valuation date price	$	4.87		$	2.12
Expected term (in years)		4.54			5.54
Expected volatility		67.20	%		70.33	%
Risk-free interest rate		3.79	%		3.88	%
Price hurdle	$	15.00		$	15.00

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

	Private Warrants			Earn-Out Liability			Total
Balance on December 31, 2021	$	21,793		$	26,596		$	48,389
Liabilities reclassed to equity		—			(14,689	)		(14,689	)
Gains included in earnings		(20,212	)		(10,731	)		(30,943	)
Balance on December 31, 2022	$	1,581		$	1,176		$	2,757
Losses included in earnings		1,322			2,303			3,625
Balance on December 31, 2023	$	2,903		$	3,479		$	6,382

Note 4 - Property, Plant and Equipment, Net - Schedule of Long-lived Assets by Geographic Locations (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, plant, and equipment, net	$ 47,206	$ 52,181
UNITED STATES
Property, plant, and equipment, net	44,931	50,434
Non-US [Member]
Property, plant, and equipment, net	$ 2,275	$ 1,747

Note 15 - Equity-based Compensation Plans

12 Months Ended

Dec. 31, 2023

Shareholders' Equity and Share-Based Payments [Text Block]

15.

EQUITY-BASED COMPENSATION PLANS

In 2021, the Company adopted the 2021 Omnibus Incentive Plan (the “2021 Plan”), under which awards, including stock options, time-based restricted stock units ("RSUs"), and performance-based restricted stock units ("PSUs") may be granted to employees and non-employee directors. The 2021 Plan authorized 8,850,000 shares of Common Stock to be available for award grants. On December 31, 2023, 4,679,306 shares of Common Stock remained available for future issuance under the 2021 Plan. On June 6, 2023, the Company granted 1,000,000 time-based RSUs and 1,520,000 PSUs to its new President and Chief Executive Officer. These awards were granted outside of the 2021 Plan as employment inducement awards and did not require shareholder approval under the rules of the NYSE or otherwise.

Restricted Stock Awards

RSUs and PSU are collectively referred to as “Restricted Stock Awards”. The Compensation Committee has awarded RSUs to select employees and non-employee directors and has awarded PSUs to select employees. The RSUs vest ratably over one to four years of continued employment. The grant date fair value of a time-based award or a performance-based award without a market condition is equal to the market price of Common Stock on the grant date and is recognized over the requisite service period. The grant date fair value of a performance-based award with a market condition is determined using a Monte Carlo simulation and is recognized over the requisite service period. On December 31, 2023, there was $9,071 of unrecognized compensation cost related to unvested Restricted Stock Awards that is expected to be recognized over a remaining weighted average period of 2.3 years.

The weighted-average grant-date fair value of Restricted Stock Awards granted during the years ended December 31, 2023, 2022, and 2021, was $2.60, $5.87 and $12.06, respectively. The fair value of Restricted Stock Awards vested and converted to shares of Common Stock was $4,231 for the year ended December 31, 2023.

	Unvested Restricted Stock Awards
				Weighted Average
	Number of RSAs			Grant Date Fair Value
Balance on December 31, 2022		1,108,330		$	9.43
Granted (1)		4,954,177			2.60
Vested		(823,337	)		4.96
Forfeited		(334,369	)		8.19
Balance on December 31, 2023		4,904,801		$	2.86

(1) Includes 1.0 million PSUs subject to the Company achieving certain Adjusted EBITDA and sales performance targets during each of fiscal years 2023, 2024, and 2025. The criteria are based on a range of these performance targets in which participants may earn between 0% to 150% of the base number of awards granted. The weighted average grant date fair value of these PSUs was $1.98. The Company assesses the attainment of target payout rates each reporting period. Equity-based compensation expense is recognized for awards deemed probable of vesting.

Performance-based Restricted Stock Units

The PSUs granted under the 2021 Plan represent shares of Common Stock that are potentially issuable in the future based on a combination of performance and service requirements. On March 8, 2023, the Company granted 949,412 PSUs to key employees with a grant date fair value of $1.98 and on May 8, 2023, granted an additional 8,050 PSUs with a grant data fair value of $2.43. The PSUs granted to employees were based on salary and include annual net sales and adjusted EBITDA growth targets with threshold and stretch goals. The awards vest ratably over three years, subject to the employee’s continuous employment through the vesting date and the level of performance achieved. The number of PSUs granted reflects the target number able to be earned under a given award. Non-vested PSU compensation expense is based on the most recent performance assumption available and is adjusted as assumptions change. The fair value of a PSU at the grant date is equal to the market price of Common Stock on the grant date. The cost estimates for PSU grants represent initial target awards until the Company can reasonably forecast the financial performance of each PSU award grant. The actual number of shares of Common Stock to be issued at the end of each performance period will range from 0% to 150% of the initial target awards.

On June 6, 2023, the Company granted 1,520,000 PSUs to its new President and Chief Executive Officer as an employment inducement award. These shares are potentially issuable in the future based on a combination of achievement of certain stock price metrics and service requirements through the expiration date of December 31, 2030. Share-based compensation expense will not be adjusted solely because the market condition is not satisfied, and the award is therefore not earned, provided the requisite service is rendered. The fair value of this award was determined as of the date of the grant using a Monte Carlo valuation model with the following assumptions:

	For the year ended
	December 31, 2023
Expected volatility		60.5	%
Expected dividend		—
Risk-free interest rate		3.67	%

The Company's estimates of fair value may be impacted by certain variables including, but not limited to, stock price volatility, the risk-free interest rate, expected dividend yields, and the Company's performance. Expected volatility is based on a size and leverage-adjusted peer volatility estimate since the Company has limited historical volatility. The expected dividend yield is assumed to be zero since the Company has never paid dividends and does not have current plans to pay any dividends. The risk-free interest rate is based on a term-matched zero-coupon risk-free interest rate derived from the Treasury Constant Maturities yield curve on the valuation date.

Stock Options

Stock option grants have an exercise price at least equal to the market value of the underlying Common Stock on the date of grant, have ten-year terms, and vest ratably over three years of continued employment. In general, vested options expire if not exercised within 90 days of termination of service. Compensation expense for stock options is recorded based on straight-line amortization of the grant date fair value over the requisite service period. On December 31, 2023, there was $893 of unrecognized compensation cost related to unvested stock options that is expected to be recognized over a remaining weighted-average period of 0.9 years.

The following table presents a summary of stock option activity for the year ended December 31, 2023:

						Weighted Average
				Weighted		Remaining		Aggregate
	Number of			Average		Contractual		Intrinsic Value
	Stock Options			Exercise Price		Term (years)		(in millions)
Options outstanding on December 31, 2022		1,709,690		$	10.97
Forfeited		(628,770	)		11.12
Expired		(194,874	)		10.50
Options outstanding on December 31, 2023		886,046		$	10.97		7.33	$	—
Options exercisable on, December 31, 2023		512,370		$	10.79		6.94	$	—

The weighted-average grant-date fair value of stock options granted during the years ended December 31, 2022 and 2021, was $4.65 and $3.88, respectively. The fair value of each stock option granted in 2022 and 2021 was estimated on the grant date using a Black-Scholes option pricing model with the following assumptions:

	For the years ended December 31,
	2022			2021
Weighted-average expected term	6.0 years			6.0 years
Expected volatility		36.0% - 40.0	%		40.3	%
Expected dividend		—			—
Risk-free interest rate		1.98% - 3.06	%		0.94	%

The expected term has been estimated using a simplified method, which calculates the expected term as the mid-point between the vesting date and the contractual life of the awards since the Company does not have an extended history of actual exercises. The expected dividend yield is assumed to be zero since the Company has never paid dividends and does not have current plans to pay any dividends. The risk-free interest rate is based on yields of U.S. Treasury securities with maturities similar to the expected term of the options. Expected volatility is based on an evenly weighted blend of implied volatility and historical volatility of publicly traded peer companies since the Company has limited historical volatility.

Profit Interest Units

The Holley Stockholder authorized an incentive pool of 41,400,000 units of Holley Stockholder that its management had the right to grant to certain employees of the Company. The units, which are designated as Profit Interest Units (“PIU's”), are a special type of limited liability company equity unit that allows the recipient to potentially participate in a future increase in the value of the Company. The PIUs were issued for no consideration and generally provided for vesting over a requisite service period, subject to the recipient remaining an employee of the Company through each vesting date. Compensation expense related to PIUs is recorded based on the grant-date fair value over the requisite service period. For the years ended December 31, 2022 and 2021, 36,506,814 and 1,693,804 PIUs vested with total grant-date fair values of $20,276 and $535, respectively.

In October 2022, the Holley Stockholder amended the vesting criteria to allow for immediate vesting of all outstanding and unvested PIUs. The changes to these awards were deemed to be modification events under ASC Subtopic 718-10, Stock Compensation. Accordingly, during the year ended December 31, 2022, the Company recognized a cumulative adjustment of $11,351, including incremental fair value resulting from the modification, as applicable to each award grant, presented in selling, general and administrative expenses. At that time all PIUs were fully vested with no remaining unrecognized compensation cost, and there are no remaining PIUs authorized for issuance.

Prior to October 2022, the Holley Stockholder's had granted 24,074,944 PIUs that contained certain performance vesting criteria related to the attainment of specified levels of return for certain other investors in the Holley Stockholder and the occurrence of certain events. Compensation expense for these performance-based awards was not recognized prior to the early vesting date, as meeting the necessary performance conditions for vesting was not considered probable. The early vesting of these awards was classified as a Type III: Improbable to Probable modification event under ASC Subtopic 718-10, and the fair value of the modified awards was estimated on the modification date using a Black-Scholes option pricing model. The fair value of PIUs was estimated on the grant date with the following assumptions:

	For the years ended December 31,
	2022			2021
Weighted-average expected term		3.0 years			2.0 years
Expected volatility		65.0	%		55.0	%
Expected dividend		—			—
Risk-free interest rate		4.3	%		0.3	%

Determining the fair value of PIUs is affected by estimates involving inherent uncertainties, as well as assumptions regarding a number of other complex and subjective variables. These variables include the fair value of the equity unit classes, value adjustments for a reduction in marketability, expected unit price volatility over the expected term of the units, unit redemption and cancellation behaviors, risk-free interest rates and expected dividends.

The expected term has been estimated based on the contractual terms, vesting schedules and expectations of future unit holder behavior. The expected dividend yield is assumed to be zero since the Company has never paid dividends and does not have current plans to pay any dividends. The risk-free interest rate is based on yields of U.S. Treasury securities with maturities similar to the expected term of the options for each option group. As the Holley Stockholder is a private company and does not have a trading history for its equity units, the expected price volatility for the equity units is estimated by taking the average historical price volatility for industry peers. Industry peers, which the Company has designated, consist of several public companies in the industry similar in size, stage of life cycle and financial leverage.

The components of share-based compensation expense, included within selling, general and administrative costs in the consolidated statements of comprehensive income, is as follows:

	For the years ended December 31,
	2023		2022		2021
Restricted stock units	$	4,371	$	4,304	$	1,070
Performance stock units		2,343		—		—
Stock options		577		2,349		824
Profit interest units		—		17,742		3,069

Note 15 - Equity-based Compensation Plans - Schedule of Share-Based Payment Award Stock Options Valuation Using Black-Scholes Option Pricing Model (Details) - Share-Based Payment Arrangement, Option [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Weighted-average expected term (Year)	6 years	6 years
Expected volatility		40.30%
Expected dividend	$ 0	$ 0
Risk-free interest rate		0.94%
Minimum [Member]
Expected volatility	36.00%
Risk-free interest rate	1.98%
Maximum [Member]
Expected volatility	40.00%
Risk-free interest rate	3.06%

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss, Current	$ 1,577	$ 1,550
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized (in shares)	5,000,000	5,000,000
Preferred Stock, Shares Issued (in shares)	0	0
Preferred Stock, Shares Outstanding (in shares)	0	0
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized (in shares)	550,000,000	550,000,000
Common Stock, Shares, Issued (in shares)	117,707,280	117,147,997
Common Stock, Shares, Outstanding (in shares)	117,707,280	117,147,997

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Dec. 31, 2023	Mar. 01, 2024	Jul. 02, 2023
Document Information [Line Items]
Entity Central Index Key	0001822928
Entity Registrant Name	Holley Inc.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	001-39599
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-1727560
Entity Address, Address Line One	1801 Russellville Road
Entity Address, City or Town	Bowling Green
Entity Address, State or Province	KY
Entity Address, Postal Zip Code	42101
City Area Code	270
Local Phone Number	782-2900
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 215,000,000
Entity Common Stock, Shares Outstanding		118,801,030
Auditor Firm ID	248
Auditor Name	GRANT THORNTON LLP
Auditor Location	Cincinnati, Ohio
Warrant [Member]
Document Information [Line Items]
Title of 12(b) Security	Warrants to Purchase Common Stock
Trading Symbol	HLLY WS
Security Exchange Name	NYSE
Common Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.0001
Trading Symbol	HLLY
Security Exchange Name	NYSE

Note 12 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	For the years ended December 31,
	2023			2022			2021
Current income tax expense:
Federal	$	10,909		$	12,356		$	7,422
State		927			1,253			323
Foreign		1,715			2,450			2,602
Total current income tax expense		13,551			16,059			10,347
Deferred income tax expense (benefit):
Federal		(5,986	)		(8,679	)		823
State		811			(2,591	)		(552	)
Foreign		23			(296	)		(189	)
Total deferred income tax expense (benefit)		(5,152	)		(11,566	)		82
Total income tax expense	$	8,399		$	4,493		$	10,429

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

	For the years ended December 31,
	2023		2022		2021
United States	$	23,971	$	72,276	$	(24,772	)
Foreign		3,608		5,991		8,062
Income (loss) before income taxes	$	27,579	$	78,267	$	(16,710	)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	For the years ended December 31,
	2023			2022			2021
Expected tax expense (benefit) at U.S. Federal statutory rates	$	5,792		$	16,479		$	(3,510	)
State income tax expense (benefit)		1,373			(1,057	)		(180	)
Permanent tax differences		375			4,275			825
Foreign-derived intangible income deduction		(397	)		(298	)		—
Global intangible low-taxed income		—			—			375
Section 162(m) limitation		709			—			—
Foreign rate differential		782			560			719
Tax credit		(1,506	)		(1,393	)		(1,620	)
Earn-outs		484			(2,254	)		5,470
Change in fair value of Warrants		863			(11,974	)		6,842
Transaction costs		—			—			1,465
Other differences, net		(76	)		155			43
Total income tax expense	$	8,399		$	4,493		$	10,429

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	December 31,
	2023			2022
Deferred tax assets:
Reserves on assets	$	10,283		$	12,305
Liabilities not yet deductible		781			3,371
Interest expense limitation		16,040			9,624
Right-of-use liability		6,791			6,899
Section 174 expenses		10,049			6,197
Net operating losses		2,446			1,493
Other		1,113			526
Total gross deferred tax assets		47,503			40,415
Valuation allowance		(5	)		—
Total gross deferred tax assets, net of valuation allowance		47,498			40,415
Deferred tax liabilities:
Tradename		33,801			33,770
Intangible assets		41,715			41,126
Goodwill		12,310			10,037
Property, plant and equipment		6,634			7,110
Right-of-use asset		6,585			6,762
Total gross deferred tax liabilities		101,045			98,805
Net deferred tax liabilities	$	53,542		$	58,390

Deferred Tax Assets, Change in Valuation Allowance [Table Text Block]

	December 31,
	2023
Valuation allowance, January 1	$	—
Additions charged to expense accounts		5
Valuation allowance, December 31	$	5

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

	December 31,
	2023
Gross unrecognized tax benefits, January 1	$	—
Changes in balance related to tax position taken during prior periods		329
Gross unrecognized tax benefits, December 31	$	329

Note 14 - Benefit Plans - Summarizes the Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Service cost	$ 113	$ 143
Interest cost	138	152
Expected return on plan assets	(218)	(240)
Settlement loss recognized	154	0
Amortization of net loss	0	25
Net periodic benefit cost	$ 187	$ 80

Note 5 - Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Text Block]

5.	GOODWILL AND OTHER INTANGIBLE ASSETS

The following presents changes to goodwill for the periods indicated:


Balance on December 31, 2021	$	411,383
John's acquisition		240
SKC acquisition		1,270
RaceQuip acquisition		4,348
Measurement period adjustments		880
Balance on December 31, 2022		418,121
Measurement period adjustments		935
Balance on December 31, 2023	$	419,056

Goodwill represents the premium paid over the fair value of the net tangible and identifiable intangible assets acquired in the Company's business combinations. The measurement period for the valuation of assets acquired and liabilities assumed ends as soon as information on the facts and circumstances that existed as of the acquisition date becomes available, not to exceed 12 months. Adjustments in purchase price allocations may require a change in the amounts allocated to goodwill during the periods in which the adjustments are determined. In the fourth quarter of 2023, the Company performed a qualitative assessment and did not identify any indicators of impairment. In the third quarter and fourth quarters of 2022, the Company performed quantitative and qualitative assessments and did not identify any indicators of impairment. No goodwill impairment charges were incurred during 2023 and 2022.

Intangible assets consisted of the following:

	December 31, 2023
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value
Finite-lived intangible assets:
Customer relationships	$	269,950	$	(55,732	)	$	214,218
Tradenames		13,775		(5,569	)		8,206
Technology		26,676		(13,800	)		12,876
Total finite-lived intangible assets	$	310,401	$	(75,101	)	$	235,300

Indefinite-lived intangible assets:
Tradenames	$	175,165		—		$	175,165

	December 31, 2022
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value
Finite-lived intangible assets:
Customer relationships	$	269,950	$	(44,178	)	$	225,772
Tradenames		13,775		(4,843	)		8,932
Technology		26,676		(11,523	)		15,153
Total finite-lived intangible assets	$	310,401	$	(60,544	)	$	249,857

Indefinite-lived intangible assets:
Tradenames	$	174,998		—		$	174,998

The following outlines the estimated future amortization expense related to intangible assets held on December 31, 2023:

2024	$	13,744
2025		13,714
2026		13,608
2027		13,601
2028		13,601
Thereafter		167,032
Total	$	235,300

In the third quarter of 2022, management concluded it was necessary to reevaluate indefinite-lived intangible assets for impairment after supply chain challenges led to a downward revision of earnings estimates for 2022, which resulted in a decline in the Company's market capitalization. As a result of this evaluation, a pre-tax impairment of $2,395 was recognized on certain indefinite-lived tradenames. In the fourth quarter of 2022, the Company performed a qualitative assessment of indefinite-lived intangible assets and did not identify any indicators of impairment. The Company has not subsequently identified any circumstances to indicate that it was necessary to reevaluate indefinite-lived intangible assets for impairment. No impairment was recognized on intangible assets in 2023.

The fair value of the indefinite-lived tradenames was estimated using the relief from royalty method, a form of the income approach. Significant judgement is required in estimating the fair value of intangible assets and in performing impairment tests. The most significant assumptions utilized in the determination of the estimated fair values of the indefinite-lived tradenames were the sales projections and long-term earnings growth rates, the royalty rate and the discount rate. The long-term earnings growth rate represents the expected rate at which the brands are expected to grow beyond the shorter-term business planning period. The royalty rate is based on observed market royalty rates for various industrial, consumer and commercial trademarks. The discount rate is based on the Company's weighted average cost of capital adjusted for risk. Due to the inherent uncertainty in forecasting future sales, actual results in the future may vary significantly from the forecasts.

Potential changes in our costs and operating structure, the implementation of synergies, and overall performance in the automotive aftermarket industry, could negatively impact our near-term cash-flow projections and could trigger a potential impairment of the Company's goodwill and / or indefinite-lived intangible assets. In addition, failure to execute the Company's strategic plans as well as increases in weighted average costs of capital could negatively impact the fair value of the reporting unit and increase the risk of future impairment charges.

Note 3 - Inventory - Schedule of Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Raw materials	$ 63,552	$ 78,586
Work-in-process	22,619	23,906
Finished goods	106,089	131,081
Inventory, Net	$ 192,260	$ 233,573

Significant Accounting Policies (Policies)	12 Months Ended
Significant Accounting Policies (Policies)	Dec. 31, 2023
Accounting Policies [Abstract]
Emerging Growth Company [Policy Text Block]	*Emerging Growth Company Status* Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company is an emerging growth company, and, as such, has elected to take advantage of the benefits of the extended transition period for new or revised financial accounting standards.
Risks And Uncertainties [Policy Text Block]	*Risks and Uncertainties* The Company's business and results of operations, financial condition, and liquidity are impacted by broad economic conditions including inflation, labor shortages, and disruption of the supply chain, as well as by geopolitical events, including military conflicts (including the conflict in Ukraine, the conflict in Israel and surrounding areas, and the possible expansion of such conflicts). The Company's operations have been adversely impacted by inflationary pressures primarily related to transportation, labor and component costs. Sales growth in certain products has been constrained by supply chain challenges and automotive electronic component shortages. In response to the global supply chain volatility and inflationary impacts, the Company has attempted to minimize potential adverse impacts on its business with cost savings initiatives, price increases to customers, and by closely monitoring inventory levels of certain products and working closely with its suppliers and customers to minimize disruptions in delivering products to customers. Our profitability has been, and may continue to be, adversely affected by constrained consumer demand, a shift in sales to lower-margin products, and demands on our performance that increase our costs. Should the ongoing macroeconomic conditions not improve, or worsen, or if the Company's attempt to mitigate the impact on its supply chain, operations and costs is not successful, the Company’s business, results of operations and financial condition may be adversely affected.
Basis of Accounting, Policy [Policy Text Block]	*Basis of Presentation* The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany transactions and accounts have been eliminated in consolidation.
Reclassification, Comparability Adjustment [Policy Text Block]	*Reclassifications* Certain previously reported amounts in the accrued liabilities footnote have been reclassified between line items to conform to the current period presentation.
Use of Estimates, Policy [Policy Text Block]	*Use of Estimates* The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. These estimates require the use of judgment as future events, and the effect of these events, cannot be predicted with certainty. The estimates will change as new events occur, as more experience is acquired and as more information is obtained. The Company evaluates and updates assumptions and estimates on an ongoing basis and may consult outside experts to assist as considered necessary.
Cash and Cash Equivalents, Policy [Policy Text Block]	*Cash and Cash Equivalents* The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. The Company's cash and cash equivalents include cash and deposits, including an overnight sweep account where funds are transferred to an interest-bearing deposit account that is insured by the Federal Deposit Insurance Corporation ("FDIC"). The FDIC insures financial institution deposits up to $250. The Company maintains deposits exceeding $250 in certain accounts at financial institutions in the United States. On December 31, 2023 and 2022, the Company had cash in foreign bank accounts of $4,975 and $5,878, respectively. Cash and cash equivalent in foreign bank accounts are primarily held in Italy. Italian deposits are insured up to €100 per depositor, per bank. The Company maintains deposits exceeding €100 in certain accounts at financial institutions in Italy. The Company has not incurred any losses in these accounts.
Accounts Receivable [Policy Text Block]	*Accounts Receivable and Allowance for Credit Losses* Accounts receivable represent amounts due from customers in the ordinary course of business. The receivables are stated at the amount management expects to collect. The Company is subject to risk of loss from uncollectible receivables in excess of its allowance. The Company maintains an allowance for credit losses for estimated losses from customers’ inability to make required payments. In order to estimate the appropriate level of this allowance, the Company analyzes historical bad debts, customer concentrations, current customer creditworthiness, current economic trends and changes in customer payment patterns. Accounts are written off when management determines the account is uncollectable. Interest is not charged on past due accounts.
Inventory, Policy [Policy Text Block]	*Inventory Valuation* The Company's inventories are stated at the lower of cost or net realizable value using the first-in, first-out (FIFO) method. Adjustments to reduce the cost of inventory to its net realizable value are made, if required, for estimated excess, obsolescence or impaired balances.
Segment Reporting, Policy [Policy Text Block]	*Segments* The Company's operations are managed and reported to its Chief Executive Officer (“CEO”), the Company’s chief operating decision maker, on a consolidated basis. The CEO assesses performance and allocates resources based on the consolidated results of operations. Under this organizational and reporting structure, the Company has one reportable segment.
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]	*Goodwill* Goodwill represents the excess of purchase price over the fair value of the net assets of businesses acquired. On an annual basis or whenever events or changes in circumstances indicate the carrying value of goodwill may have been impaired, the Company may perform a qualitative assessment to determine if it is more likely than not that the fair value of the reporting unit is less than its carrying amount, including goodwill. If the Company determines that the fair value of the reporting unit is less than its carrying amount or elects not to perform a qualitative assessment, it will perform a quantitative analysis; otherwise, no further evaluation is necessary. For the quantitative impairment assessment, the Company compares the fair value of the reporting unit to its carrying value, including goodwill. The Company determines the fair value of the reporting unit based on a weighting of income and market approaches. If the fair value of the reporting unit exceeds the carrying value of the net assets assigned to that unit, goodwill is not impaired and no further testing is performed. If the carrying value of the net assets assigned to the reporting unit exceeds the fair value of the reporting unit, then the Company will recognize a loss equal to the excess, limited to the total amount of goodwill allocated to that reporting unit. Impairments, if any, are charged directly to earnings.
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block]	*Intangible Assets Other Than Goodwill* Tradenames acquired in certain business combinations were determined to have indefinite useful lives and are not amortized, but instead are tested for impairment on an annual basis and when facts and circumstances indicate that the carrying values of the assets may be impaired. If such review indicates an asset’s carrying value may not be recoverable, an impairment loss is recognized for the excess of the carrying value over the fair value of the asset. As part of separate business acquisitions, the Company’s customer relationships, technology and certain tradenames were identified as definite-lived intangible assets. The customer relationship intangible assets are being amortized over a ten to twenty-five year life based on the attrition rate of customers with a weighted-average amortization period of 23.6 years. The technology intangible assets are being amortized over a five to fourteen year life based on the lifecycle of previous technology with a weighted-average amortization period of 12.1 years. The tradenames are being amortized over a fifteen to twenty year life based on the estimated life of the tradename with a weighted-average amortization period of 19.2 years. The weighted-average amortization period for all amortizable intangibles on a combined basis is 22.5 years.
Property, Plant and Equipment, Policy [Policy Text Block]	*Property, Plant and Equipment* Property, plant and equipment acquired in various acquisitions have been recorded at fair value. All other property, plant and equipment is recorded at cost. Depreciation and amortization are provided for using the straight-line method over the estimated useful lives of the assets. Estimated useful lives for new property, plant and equipment additions are seven to twenty-five years for buildings, three to ten years for machinery and equipment, and the shorter of the estimated lease term or useful life for leasehold improvements. Maintenance, repairs, and betterments which do not enhance the value of or increase the life of the assets are expensed as incurred.
Lessee, Leases [Policy Text Block]	*Leases* Operating lease right of use ("ROU") assets and liabilities are recognized at the commencement date of the lease based on the present value of lease payments over the lease term. The Company's leases may include options to extend or terminate the lease. These options to extend are included in the lease term when it is reasonably certain that the Company will exercise that option. Some leases have variable payments, however, because they are not based on an index or rate, they are not included in the ROU assets and liabilities. Variable payments for real estate leases primarily relate to common area maintenance, insurance, taxes and utilities. Since the Company's leases generally do not provide an implicit rate, the Company applies a portfolio approach using an estimated incremental borrowing rate based on the lease term and other information available at the commencement date in determining the present value of lease payments. The rate applied is based on the currency of the lease. Leases having a lease term of 12 months or less are not recorded on the balance sheet and the related lease expense is recognized on a straight-line basis over the term of the lease. In addition, the Company has applied the practical expedient to account for the lease and non-lease components as a single lease component for all of the Company's leases.
Debt, Policy [Policy Text Block]	*Debt Issuance Costs* Debt issuance costs include fees and costs incurred to obtain financing. Debt issuance costs related to the Company's term loans are presented in the consolidated balance sheet as a direct deduction from the carrying amount of the term loans. These fees and costs are being amortized using the effective interest method over the term of the related loans and are included in interest expense in the Company's consolidated statements of comprehensive income (loss). If the debt is retired before its scheduled maturity date, any remaining unamortized debt issuance costs are written off in the period the debt is retired as a non-operating expense in the statement of operations as loss on the early extinguishment of debt. For the years ended 2023, 2022 and 2021, the amortization of debt issuance costs included in interest expense was $1,780, $1,707, and $3,182, respectively.
Self Insurance Reserve [Policy Text Block]	*Self-Insurance* The Company is self-insured for employee medical and prescription drug benefits up to certain stop loss coverage amounts. The Company accrues an estimate for unpaid claims, as well as incurred but not reported claims, based upon the Company’s claim experience and expectations of future claim activity. The resulting liability and expense are reflected as a component of accrued expenses, cost of sales and selling, general and administrative expenses in the accompanying consolidated balance sheets and consolidated statements of comprehensive income (loss), respectively.
Revenue [Policy Text Block]	*Revenue Recognition* The Company recognizes revenue with customers when control of the promised goods transfers to the customer. This generally occurs when the product is shipped to the customer. Revenue is recorded at the amount of consideration the Company expects to be entitled to in exchange for the delivered goods, which includes an estimate of variable consideration, expected returns, or refunds when applicable. The Company estimates variable consideration, such as sales incentives, by using the most likely amount approach, which considers the single most likely amount from a range of possible consideration amounts. Estimates of variable consideration result in an adjustment to the transaction price such that it is probable that a significant reversal of cumulative revenue would not occur in the future. Sales incentives and allowances are recognized as a reduction to revenue at the time of the related sale. Revenue is recorded net of sales tax. Shipping and handling fees billed to customers are included in net sales, while costs of shipping and handling to customers are included in selling, general and administrative costs. For more information about the Company’s revenue from contracts with customers, see Note 11, “Revenue”. *Customer Sales Incentives* Sales incentives provided take the form of either sales discounts or rebates and are treated as a reduction of net sales. The Company also maintains a cooperative advertising program with its customers and provides sales incentives to the extent of the estimated value of advertising provided by the customer on behalf of the Company. The costs incurred under the cooperative advertising program are included as a reduction of net sales. *Product Warranty* The Company generally warrants its products against certain manufacturing and other defects. These product warranties are provided for specific periods of time depending on the nature of the product. The accrued product warranty costs are based primarily on historical experience of actual warranty claims and are recorded at the time of the sale. These obligations are recorded within accrued liabilities in the consolidated balance sheets (see also Note 19, “Commitments and Contingencies” for additional information on warranty reserves). Significant judgments and estimates must be made and used in connection with establishing warranty allowances in any accounting period. Revision of these estimates is made, when necessary, based upon changes in these factors. *Sales Returns* Estimated sales returns and allowances are recorded as a charge against gross sales in the period in which the related sales are recognized, net of returns to stock. The Company’s customers are permitted to return new, undamaged products within customer-specific limits (which are generally limited to a specified percentage of their annual purchases) in the event that they have overstocked their inventories. The Company estimates sales returns based primarily upon actual historical returns, planned product discontinuances, and promotional sales. Returned products, which are recorded as inventories, are valued at the lower of cost or net realizable value. The physical condition and marketability of the returned products are the major factors considered in estimating realizable value.
Cost of Goods and Service [Policy Text Block]	*Cost of Goods Sold* Cost of goods sold primarily consists of materials and labor expense in the manufacturing of the Company’s products sold to its customers. Cost of goods sold also includes provisions for excess and obsolete inventory, warranty costs, certain allocated costs for facilities, depreciation and other manufacturing overhead.
Selling, General and Administrative Expenses, Policy [Policy Text Block]	*Selling, General and Administrative Expenses* Selling, general and administrative expenses include personnel costs for employees in selling, general and administrative functions (including equity-based compensation); costs to operate shop locations, corporate offices and back-office support centers; costs to transport products from facilities to our customers; and other selling, general and administrative expenses, such as professional fees, supplies, and advertising expenses.
Income Tax, Policy [Policy Text Block]	*Income Taxes* Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company recognizes income tax positions only if those positions are “more likely than not” of being sustained upon examination by taxing authorities. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company recognizes interest on liabilities for uncertain tax positions in interest expense and would recognize penalties, if any, in operating expenses in its consolidated income statements. The Company has no amounts accrued for such interest or penalties on December 31, 2023 and 2022. The Company files income tax returns in the U.S. federal jurisdiction and various foreign and state jurisdictions. On December 31, 2023, the Company had approximately $329 of unrecognized tax benefits. There were no unrecognized tax benefits on December 31, 2022. The statute of limitations remains open for U.S. federal income tax examinations for the years ended December 31, 2020, through December 31, 2022. U.S. state jurisdictions have statues of limitations generally ranging from three to eight years. The Company does not expect the total amount of unrecognized tax benefits to significantly change in the next 12 months.
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block]	*Impairment or Disposal of Long-Lived Assets* The Company accounts for long-lived assets, including intangible assets subject to amortization, in accordance with the provisions that require long-lived assets, such as property and equipment, be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the sum of undiscounted net cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell.
Advertising Cost [Policy Text Block]	*Advertising* Advertising production costs are expensed the first time the advertising takes place. Total advertising expenses were $5,987, $7,159, and $6,299 for the years ended December 31, 2023, 2022, and 2021, respectively. Advertising costs are classified as a component of selling, general and administrative costs in the accompanying consolidated statements of comprehensive income (loss).
Research and Development Expense, Policy [Policy Text Block]	*Research and Development Costs* Research, development, pre-production and start-up costs related to both present and future products are expensed as incurred. Such costs amount to $23,844, $29,083, and $28,280 for the years ended December 31, 2023, 2022, and 2021, respectively.
Comprehensive Income, Policy [Policy Text Block]	*Other Comprehensive Income (Loss)* Comprehensive income (loss) encompasses all changes in stockholder’s equity and includes net income, change in the foreign currency translation adjustment and minimum pension liability gains. The Company’s accumulated other comprehensive loss shown on the consolidated balance sheets on December 31, 2023 and 2022 consists of foreign currency translation adjustments of $710 and $944, respectively.
Foreign Currency Transactions and Translations Policy [Policy Text Block]	*Foreign Currencies* The functional currency of the Company’s Italian subsidiary is the Euro. Assets and liabilities of foreign operations are translated using period end exchange rates. Revenue and expenses are translated using average exchange rates during each period reported. Translation gains (losses) are reported in accumulated other comprehensive loss as a component of shareholders equity and were $234, ($990), and $30 for the years ended December 31, 2023, 2022 and 2021, respectively. The Company recognizes foreign currency transaction gains (losses) on certain assets and liabilities. These transaction (gains) losses are reported in other expense in the consolidated statements of comprehensive income (loss) and were $278, ($97), and $44 for the years ended December 31, 2023, 2022 and 2021, respectively.
Earnings Per Share, Policy [Policy Text Block]	*Earnings per Share* Earnings per share is computed by dividing net income or loss available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share is computed by giving effect to all potential dilutive common stock equivalents outstanding for the period. The dilutive effect of these potential common shares is reflected in diluted earnings per share by application of the treasury stock method.
Warrant and Forward Purchase Agreement Liabilities [Policy Text Block]	*Warrants* The Company accounts for warrants to purchase its common stock as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in Accounting Standards Codification ("ASC") Topic 480, Distinguishing Liabilities from Equity, and ASC Topic 815, Derivatives and Hedging. The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC Topic 480, meet the definition of a liability pursuant to ASC Topic 480, and whether the warrants meet all of the requirements for equity classification under ASC Topic 815, including whether the warrants are indexed to the Company’s own shares and whether the warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding.
Share-Based Payment Arrangement [Policy Text Block]	*Equity-Based Compensation* The Company accounts for equity-based awards granted to employees and nonemployees under the fair value method prescribed by ASC Subtopic 718-10, Stock Compensation. Equity-based compensation cost is measured based on the estimated grant date fair value of the award and is recognized as expense over the requisite service period (generally the vesting period). The fair value of stock options is estimated using the Black Scholes option-pricing model. Restricted stock units are valued at the stock price on the grant date. The fair value of profit interest units granted by the Holley Stockholder is estimated based on the Company’s estimated equity value for each unit class at the time of granting using the Black-Scholes option-pricing model, discounted to reflect market considerations for illiquidity. Performance share units that vest based on the achievement of company-designated performance targets are valued at the stock price on the grant date. Compensation expense in respect of such performance share units is recognized each period based on the expected level of achievement and, to the extent that the expected levels of achievement change, compensation cost is adjusted in the period of change with the remaining unrecognized cost recognized over the remaining requisite service period. For performance share units that vest based on the achievement of predetermined market conditions, the Company estimates the grant date fair value using a Monte Carlo simulation model. The fair value associated with each tranche of the award is recognized, straight-line, over the associated requisite service period for that tranche, subject to acceleration if the market condition is met prior to the end of the derived service period. Unless the awards contain a market condition, previously recognized expense related to forfeited awards is reversed in the period in which the forfeiture occurs. For awards containing a market condition, previously recognized stock-based compensation expense is not reversed when the awards are forfeited as long as the service is provided for the duration of the required service period.
Fair Value Measurement, Policy [Policy Text Block]	*Fair Value Measurements* Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimizes the use of unobservable inputs to the extent possible. The inputs used to measure fair value are prioritized based on a three-level hierarchy, which are defined as follows: Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2 – Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 – Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability.
Derivatives, Reporting of Derivative Activity [Policy Text Block]	*Derivative Financial Instruments* The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC Topic 815, Derivatives and Hedging. For derivative financial instruments that are accounted for as assets or liabilities, the derivative instrument is initially recorded at its fair value on the grant date and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. Derivative assets and liabilities are classified on the balance sheet as current or non-current based on whether or not net cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date. The Company uses derivative instruments to manage its exposure to changes in interest rates on borrowings under its debt facility. These derivative instruments are primarily valued on the basis of quotes obtained from banks, brokers, and/or dealers. The valuation of the derivative instruments considers future expected interest rates on the notional principal balance remaining, which is comparable to what a prospective acquirer would pay on the measurement date. Valuation pricing models consider inputs such as forward rates, anticipated interest rate volatility relating to the reference rate, as well as time value, counterparty risk and other factors underlying derivative instruments.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	*Concentration of Credit Risk* Financial instruments, which potentially subject the Company to significant concentrations of credit risk, consist primarily of cash and accounts receivable. The Company controls its exposure to credit risk associated with these instruments by (i) placing cash and cash equivalents with several major financial institutions and (ii) maintaining strict policies over credit extension that include credit evaluations, credit limits and monitoring procedures. For more information on the Company’s net sales to its three largest customers, see Note 17, “Major Reseller Customers”.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements *Accounting Standards Recently Adopted* In October 2021, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. This ASU requires entities to apply the definition of a performance obligation under ASC Topic 606, Revenue from Contracts with Customers, to recognize and measure contract assets and contract liabilities (i.e., deferred revenue) relating to contracts with customers that are acquired in a business combination. Prior to the adoption of ASU 2021-08, an acquirer generally recognized assets acquired, and liabilities assumed in a business combination, including contract assets and contract liabilities arising from revenue contracts with customers, at fair value on the acquisition date. ASU No. 2021-08 results in the acquirer recording acquired contract assets and liabilities on the same basis that would have been recorded by the acquiree before the acquisition under ASC Topic 606. The Company adopted ASU 2021-08 on January 1, 2023. Adoption of ASU 2021-08 did not impact the Company's consolidated financial statements. **Accounting Standards Not* Yet Adopted*** In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to SEC's Disclosure Update and Simplification Initiative. This ASU amends the disclosure or presentation requirements related to various subtopics in the FASB Accounting Standards Codification. The effective date for each amendment will be the date on which the SEC's removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. The Company will monitor the removal of various requirements from the current regulations in order to determine when to adopt the related amendments, but it does not anticipate that the adoption of the new guidance will have a material impact on the Company’s consolidated financial statements and related disclosures. The Company will continue to evaluate the impact of this guidance on its consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. This ASU expands reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The standard requires interim and annual disclosure of significant segment expenses that are regularly provided to the chief operating decision-maker ("CODM") and included within the reported measure of a segment’s profit or loss, requires interim disclosures about a reportable segment’s profit or loss and assets that are currently required annually, requires disclosure of the position and title of the CODM, clarifies circumstances in which an entity can disclose multiple segment measures of profit or loss, and contains other disclosure requirements. This ASU is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the effect of this new guidance on its consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This ASU requires additional disclosures of various income tax components that affect the rate reconciliation based on the applicable taxing jurisdictions, as well as the qualitative and quantitative aspects of those components. The standard also requires information pertaining to taxes paid to be disaggregated for federal, state and foreign taxes, and contains other disclosure requirements. This ASU is effective for fiscal years beginning after December 15, 2024 and interim periods within fiscal years beginning after December 15, 2025, with early adoption permitted. The Company is currently evaluating the effect of this new guidance on its consolidated financial statements and related disclosures.

Note 14 - Benefit Plans - Summary of Changes in the Benefit Obligation and Plan Assets and the Plan Funded Status (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Service cost	$ 113	$ 143
Interest cost	138	152
Defined Benefit Plan, Plan Assets, Contributions by Employer	765	471
Funded status at end of period	0
Pension Plan [Member]
Benefit obligation	6,104
Service cost	113
Interest cost	138
Plan curtailments	(5,185)
Benefits paid	(299)
Expenses paid	(149)
Actuarial (gain) loss	(722)
Benefit obligation	0	6,104
Fair value of plan net assets	5,242
Actual return on plan assets	(374)
Defined Benefit Plan, Plan Assets, Contributions by Employer	765
Plan settlements	(5,185)
Benefits paid from plan assets	(299)
Expenses paid	(149)
Fair value of plan net assets	$ 0	$ 5,242

Insider Trading Arrangements	12 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	*Item 9B.* Other Information** None
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Note 4 - Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment Disclosure [Text Block]

4.	PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment of the Company consisted of the following:

	December 31,
	2023		2022
Land	$	3,326	$	3,426
Buildings and improvements		11,404		11,051
Machinery and equipment		73,332		66,140
Construction in process		6,224		9,563
Total property, plant and equipment		94,286		90,180
Less: accumulated depreciation		47,080		37,999
Property, plant and equipment, net	$	47,206	$	52,181

The Company’s long-lived assets by geographic locations are as follows:

	December 31,
	2023		2022
United States	$	44,931	$	50,434
International		2,275		1,747
Total property, plant and equipment, net	$	47,206	$	52,181

Note 19 - Commitments and Contingencies

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Text Block]

19.

COMMITMENTS AND CONTINGENCIES

Litigation

The Company is a party to various lawsuits and claims in the normal course of business, as well as the putative securities class action described below. While the lawsuits and claims against the Company cannot be predicted with certainty, management believes that the ultimate resolution of such matters will not have a material effect on the consolidated financial position or liquidity of the Company; however, in light of the inherent uncertainties involved in such lawsuits and claims, some of which may be beyond the Company’s control, an adverse outcome in one or more of these matters could be material to the Company’s results of operations or cash flows for any particular reporting period.

A putative securities class action was filed on November 6, 2023, against the Company, Tom Tomlinson (the Company’s former Director, President, and Chief Executive Officer), and Dominic Bardos (the Company’s former Chief Financial Officer) in the United States District Court for the Western District of Kentucky (the “Complaint”) and is captioned City of Fort Lauderdale General Employees’ Retirement System v. Holley, Inc., f/k/a Empower LTD., Tom Tomlinson, and Dominic Bardos, Civil Action No. 1:23-cv-148-S.

On February 26, 2024, the court appointed City of Fort Lauderdale General Employees’ Retirement System to serve as lead plaintiff to prosecute claims on behalf of a proposed class of stockholders who purchased or otherwise acquired Holley securities between July 21, 2021 and February 6, 2023. Lead plaintiff alleges that statements made regarding the Company’s business, operations, and prospects violated Sections 10(b), Section 20(a) and Rule 10b-5 of the Securities Exchange Act of 1934 and seeks class certification, damages, interest, attorneys’ fees, and other relief.

Due to the early stage of this proceeding, we cannot reasonably estimate the potential range of loss, if any. The Company disputes the allegations and intends to vigorously defend against them.

Product Warranties

The following table provides the changes in the Company's accrual for product warranties, which is classified as a component of accrued liabilities in the consolidated balance sheets.

	For the years ended December 31,
	2023			2022			2021
Beginning balance	$	3,584		$	3,994		$	3,989
Accrued for current year warranty claims		11,362			12,261			10,185
Settlement of warranty claims		(11,621	)		(12,671	)		(10,180	)
Ending balance	$	3,325		$	3,584		$	3,994

Note 11 - Revenue - Summary of Revenue Based on Geographic Location (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net sales	$ 659,704	$ 688,415	$ 692,847
UNITED STATES
Net sales	644,652	669,187	674,491
ITALY
Net sales	$ 15,052	$ 19,228	$ 18,356

Note 7 - Debt - Future Maturities of Long-term Debt and Amortization of Debt Issuance Cost (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
2024, future maturities	$ 7,461
2024, debt issuance costs amortization	1,770
2025, future maturities	7,656
2025, debt issuance costs amortization	1,921
2026, future maturities	6,571
2026, debt issuance costs amortization	2,087
2027, future maturities	6,572
2027, debt issuance costs amortization	2,271
2028, future maturities	566,219
2028, debt issuance costs amortization	2,259
Future maturities	594,479
Debt Issuance Cost Amortization	$ 10,308	$ 11,557

Note 1 - Description of the Business, Basis of Presentation, and Summary of Significant Accounting Policies (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
FDIC Deposits Maturities (Year)	3 years
Cash, FDIC Insured Amount	$ 250
Cash and Cash Equivalents, at Carrying Value	$ 41,081	$ 26,150
Number of Reportable Segments	1
Amortization of Debt Issuance Costs	$ 1,780	1,707	$ 3,182
Unrecognized Tax Benefits	329	0
Advertising Expense	5,987	7,159	6,299
Research, Development, Pre Production and Start Up Costs	23,844	29,083	28,280
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax	710	944
Other Expense [Member]
Gain (Loss), Foreign Currency Transaction, before Tax	278	(97)	44
Shareholders Equity [Member]
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	$ 234	(990)	$ 30
Minimum [Member] \| Building and Building Improvements [Member]
Property, Plant and Equipment, Useful Life (Year)	7 years
Minimum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment, Useful Life (Year)	3 years
Maximum [Member] \| Building and Building Improvements [Member]
Property, Plant and Equipment, Useful Life (Year)	25 years
Maximum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment, Useful Life (Year)	10 years
Weighted Average [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	22 years 6 months
Customer Relationships [Member] \| Minimum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	10 years
Customer Relationships [Member] \| Maximum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	25 years
Customer Relationships [Member] \| Weighted Average [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	23 years 7 months 6 days
Technology-Based Intangible Assets [Member] \| Minimum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	5 years
Technology-Based Intangible Assets [Member] \| Maximum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	14 years
Technology-Based Intangible Assets [Member] \| Weighted Average [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	12 years 1 month 6 days
Trade Names [Member] \| Minimum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	15 years
Trade Names [Member] \| Maximum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	20 years
Trade Names [Member] \| Weighted Average [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	19 years 2 months 12 days
Non-US [Member]
Cash and Cash Equivalents, at Carrying Value	$ 4,975	$ 5,878

Schedule II - Valuation and Qualifying Accounts (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Valuation Allowance [Table Text Block]

			Charged				Charged
	Balance at		(Credited)		Reserves		Against		Balance at
	Beginning of		to Costs and		from		Allowances		End of
	Period		Expenses		Acquisitions		(1) (2)		Period
Accounts receivable reserve:
Year ended December 31, 2021:
Bad debt reserve	$	813	$	809	$	—	$	666	$	956
Cash discount reserve		426		6,173		—		6,169		430
Year ended December 31, 2022:
Bad debt reserve		956		878		—		672		1,162
Cash discount reserve		430		5,941		—		5,983		388
Year ended December 31, 2023:
Bad debt reserve		1,162		1,016		—		1,122		1,056
Cash discount reserve		388		5,991		—		5,858		521

Inventory valuation reserve:
Year ended December 31, 2021:
Expired and obsolete reserve		22,052		3,806		1,226		804		26,280
Year ended December 31, 2022:
Expired and obsolete reserve		26,280		13,410		—		1,156		38,534
Year ended December 31, 2023:
Expired and obsolete reserve		38,534		1,802		—		6,362		33,974
(1) Write-off of uncollectible accounts, net of recoveries.
(2) Write-off of obsolete inventory, net of inventory adjustments.

Note 12 - Income Taxes

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Text Block]

12.

INCOME TAXES

Income tax expense of the Company consisted of the following:

	For the years ended December 31,
	2023			2022			2021
Current income tax expense:
Federal	$	10,909		$	12,356		$	7,422
State		927			1,253			323
Foreign		1,715			2,450			2,602
Total current income tax expense		13,551			16,059			10,347
Deferred income tax expense (benefit):
Federal		(5,986	)		(8,679	)		823
State		811			(2,591	)		(552	)
Foreign		23			(296	)		(189	)
Total deferred income tax expense (benefit)		(5,152	)		(11,566	)		82
Total income tax expense	$	8,399		$	4,493		$	10,429

The Company’s income before income taxes was subject to taxes in the following jurisdictions:

	For the years ended December 31,
	2023		2022		2021
United States	$	23,971	$	72,276	$	(24,772	)
Foreign		3,608		5,991		8,062
Income (loss) before income taxes	$	27,579	$	78,267	$	(16,710	)

Reported income tax expense for the years ended December 31, 2023, 2022 and 2021 differs from the “expected” tax expense (benefit), computed by applying the U.S. Federal statutory income tax rate of 21% to income before income taxes as follows:

	For the years ended December 31,
	2023			2022			2021
Expected tax expense (benefit) at U.S. Federal statutory rates	$	5,792		$	16,479		$	(3,510	)
State income tax expense (benefit)		1,373			(1,057	)		(180	)
Permanent tax differences		375			4,275			825
Foreign-derived intangible income deduction		(397	)		(298	)		—
Global intangible low-taxed income		—			—			375
Section 162(m) limitation		709			—			—
Foreign rate differential		782			560			719
Tax credit		(1,506	)		(1,393	)		(1,620	)
Earn-outs		484			(2,254	)		5,470
Change in fair value of Warrants		863			(11,974	)		6,842
Transaction costs		—			—			1,465
Other differences, net		(76	)		155			43
Total income tax expense	$	8,399		$	4,493		$	10,429

The tax effects of temporary differences that give rise to significant portions of the Company’s deferred tax assets and deferred tax liabilities consisted of the following:

	December 31,
	2023			2022
Deferred tax assets:
Reserves on assets	$	10,283		$	12,305
Liabilities not yet deductible		781			3,371
Interest expense limitation		16,040			9,624
Right-of-use liability		6,791			6,899
Section 174 expenses		10,049			6,197
Net operating losses		2,446			1,493
Other		1,113			526
Total gross deferred tax assets		47,503			40,415
Valuation allowance		(5	)		—
Total gross deferred tax assets, net of valuation allowance		47,498			40,415
Deferred tax liabilities:
Tradename		33,801			33,770
Intangible assets		41,715			41,126
Goodwill		12,310			10,037
Property, plant and equipment		6,634			7,110
Right-of-use asset		6,585			6,762
Total gross deferred tax liabilities		101,045			98,805
Net deferred tax liabilities	$	53,542		$	58,390

Based on the Company’s projected pretax earnings, reversal of deferred tax liabilities and other relevant factors, management believes that it is more likely than not that the Company’s deferred tax assets on December 31, 2023 and 2022 will be realized, with the exception of certain state net operating loss carryforwards.

On December 31, 2023, the Company's federal and state net operating loss carryforwards for income tax purposes were immaterial. A majority of the U.S. net operating loss carryforwards have no expiration date. The remaining state net operating loss carryforwards expire at various dates through 2035. The entire amount of federal net operating loss carryforward of $381 and a significant portion of state net operating loss carryforward of $2,064 relate to acquisitions, and, as a result, are limited in the amount that can be recognized in any one year.

Changes in the valuation allowance for deferred tax assets were as follows:

	December 31,
	2023
Valuation allowance, January 1	$	—
Additions charged to expense accounts		5
Valuation allowance, December 31	$	5

The valuation allowance on December 31, 2023, includes allowances primarily related to unrealized state net operating losses and credit carryforwards of $5.

Uncertain Tax Positions

Under the accounting rules for income taxes, the Company is not permitted to recognize the tax benefit attributable to a tax position unless such position is more likely than not to be sustained upon examination by taxing authorities, including resolution of any related appeals and litigation processes, based solely on the technical merits of the position. The Company had uncertain tax positions of $329 for the year ended December 31, 2023. The Company did not have any uncertain tax positions for the year ended December 31, 2022.

The Company recognizes interest on liabilities for uncertain tax positions in interest expense and would recognize penalties, if any, in operating expenses in its consolidated statements of comprehensive income (loss). In 2023 and 2022, the Company has not recognized any amount of interest and penalties for uncertain tax positions in its consolidated statements of comprehensive income (loss).

Changes in unrecognized tax benefits were as follows:

	December 31,
	2023
Gross unrecognized tax benefits, January 1	$	—
Changes in balance related to tax position taken during prior periods		329
Gross unrecognized tax benefits, December 31	$	329

As of December 31, 2023, $9 of this total represents the amount of unrecognized tax benefits that, if recognized, would favorably affect the effective income tax rate in future periods. Interest, penalties, and accrued interest related to unrecognized tax benefits are insignificant for the periods presented.

The Company regularly engages in discussions and negotiations with tax authorities regarding tax matters in various jurisdictions in which it conducts business. Although the timing of the resolutions and/or closures of audits is highly uncertain, it is reasonably possible, that certain U.S. federal and non-U.S. tax audits may be concluded within the next 12 months, which could increase or decrease the balance of our gross unrecognized tax benefits. The Company estimates that unrecognized tax benefits as of December 31, 2023, could decrease by as much as $9 in the next 12 months.

The Company files federal, state, and non-U.S. tax returns in various foreign jurisdictions. For state and non-U.S. tax returns, the Company is generally no longer subject to tax examinations for years prior to 2014. For federal tax returns, the Company is no longer subject to tax examinations for years prior to 2019. The federal tax returns for 2020 through 2022 remain open for examinations. State income tax returns remain open for examination in various states for tax years 2014 through 2022.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

Note 2 - Business Combination, Acquisitions and Divestiture (Details Textual) - USD ($) $ / shares in Units, $ in Thousands					3 Months Ended		12 Months Ended
	Dec. 23, 2021	Dec. 16, 2021	Jul. 16, 2021	Apr. 14, 2021	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Payments to Acquire Businesses, Gross									$ 264,718
Common Stock, Shares, Issued (in shares)					117,147,997		117,707,280	117,147,997
Proceeds from Divestiture of Businesses							$ 0	$ 1,966	0
Finspeed Llc [Member] \| Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Proceeds from Divestiture of Businesses					$ 1,966
Impairment of Intangible Assets (Excluding Goodwill), Total					268
Finspeed Llc [Member] \| Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] \| Other Operating Income (Expense) [Member]
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal					(1,037)
Finspeed Llc [Member]
Revenue from Contract with Customer, Including Assessed Tax								426
IPO [Member]
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares)			1
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)			$ 11.5
Warrants and Rights Outstanding, Term (Year)			5 years
IPO [Member] \| Public Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)			8,333,310
IPO [Member] \| Private Placement Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)			4,666,667
Merger Agreement [Member] \| Pipe Investors [Member]
Repayments of Long-Term Debt, Total			$ 100,000
Subscription Agreement [Member] \| Pipe Investors [Member]
Common Stock, Shares, Issued (in shares)			24,000,000
Shares Issued, Price Per Share (in dollars per share)			$ 10
Common Stock, Value, Subscriptions			$ 240,000
Amended And Restated Forward Purchase Agreement [Member]
Stock Issued During Period, Shares, New Issues (in shares)			5,000,000
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)			1,666,667
Proceeds from Issuance of Common Stock			$ 50,000
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares)			1
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)			$ 11.5
Empower Sponsor Holdings LLC [Member] \| Tranche One [Member]
Outstanding Term of the Earn-out Share (Year)						7 years
Empower Sponsor Holdings LLC [Member] \| Merger Agreement [Member]
Business Combination Contingent Consideration Shares Issuable, Shares (in shares)			2,187,500
Empower Sponsor Holdings LLC [Member] \| Merger Agreement [Member] \| Holley Parent Holdings Llc [Member]
Payments to Acquire Businesses, Gross			$ 264,718
Common Stock, Shares, Issued (in shares)			67,673,884
Shares Issued, Price Per Share (in dollars per share)			$ 10
John's, Southern Kentucky Classics, and Vesta Motorsports [Member]
Payments to Acquire Businesses, Gross								14,863
Business Combination Intangible Assets Including Goodwill Acquired					$ 10,553			$ 10,553
John's, Southern Kentucky Classics, and Vesta Motorsports [Member] \| Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life (Year)					20 years			20 years
Finspeed, Classic Instruments, ADS, Rocket and Speartech [Member]
Payments to Acquire Businesses, Gross									19,909
Business Combination Intangible Assets Including Goodwill Acquired									$ 13,247
Finspeed Llc [Member] \| Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life (Year)									18 years
Baer Inc [Member]
Payments to Acquire Businesses, Gross	$ 22,170
Business Combination Intangible Assets Including Goodwill Acquired	18,989
Accounts Receivable, Purchase	$ 800
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed									$ 222
Baer Inc [Member] \| Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	20 years
Brothers Mail Order Industries Inc [Member]
Payments to Acquire Businesses, Gross		$ 26,135
Business Combination Intangible Assets Including Goodwill Acquired		24,835
Accounts Receivable, Purchase		$ 22
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed									191
Advance Engine Management Inc [Member]
Payments to Acquire Businesses, Gross				$ 51,243
Business Combination Intangible Assets Including Goodwill Acquired				44,486
Accounts Receivable, Purchase				$ 3,454
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed									2,264
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual									16,593
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual									$ 2,664
Advance Engine Management Inc [Member] \| Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life (Year)				20 years
Advance Engine Management Inc [Member] \| Patents [Member]
Finite-Lived Intangible Asset, Useful Life (Year)				13 years

Note 2 - Business Combination, Acquisitions, and Divestiture - Summary of Reconciles Elements of Business Combination to Cash Flows (Details) (Parentheticals) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Empowers trust and cash redemptions	$ 99,353
Transaction costs	$ 44,314

Note 2 - Business Combination, Acquisitions and Divestiture (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Elements of Business Combination to Cash Flows [Table Text Block]

	Recapitalization
Cash - Empower's trust and cash (net of redemptions of $99,353 and transaction costs of $44,314)	$	107,017
Cash - Forward Purchase Agreement		50,000
Cash - PIPE Financing		240,000
Net cash provided by Business Combination and PIPE Financing		397,017
Less: cash consideration paid to Holley Stockholder		(264,718	)
Net contributions from Business Combination and PIPE Financing	$	132,299

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

	2022			Measurement Period			2022
	(as initially reported)			Adjustments			(as adjusted)
Accounts receivable	$	959		$	(397	)	$	562
Inventory		3,481			146			3,627
Property, plant and equipment		275			—			275
Other assets		1,132			(1,108	)		24
Tradenames		1,689			—			1,689
Customer relationships		1,512			—			1,512
Goodwill		5,858			1,494			7,352
Accounts payable		(25	)		(133	)		(158	)
Accrued liabilities		(18	)		(2	)		(20	)
	$	14,863		$	—		$	14,863

	2021			Measurement Period			2021
	(as initially reported)			Adjustments			(as adjusted)
Cash	$	122		$	—		$	122
Accounts receivable		618			—			618
Inventory		3,975			—			3,975
Property, plant and equipment		2,274			—			2,274
Other assets		23			—			23
Tradenames		2,608			—			2,608
Customer relationships		2,450			—			2,450
Goodwill		11,017			(2,828	)		8,189
Accounts payable		(343	)		—			(343	)
Accrued liabilities		(129	)		122			(7	)
	$	22,615		$	(2,706	)	$	19,909

	December 23, 2021			Measurement Period			December 23, 2021
	(as initially reported)			Adjustments			(as adjusted)
Accounts receivable	$	627		$	—		$	627
Inventory		1,813			—			1,813
Property, plant and equipment		695			—			695
Other assets		76			—			76
Tradenames		4,630			—			4,630
Customer relationships		6,075			—			6,075
Goodwill		8,363			(79	)		8,284
Accounts payable		(81	)		79			(2	)
Accrued liabilities		(28	)		—			(28	)
	$	22,170		$	—		$	22,170

	December 16, 2021			Measurement Period		December 16, 2021
	(as initially reported)			Adjustments		(as adjusted)
Accounts receivable	$	22		$	—	$	22
Inventory		1,682			—		1,682
Property, plant and equipment		20			—		20
Other assets		13			—		13
Tradenames		4,975			—		4,975
Goodwill		19,561			299		19,860
Accounts payable		(34	)		—		(34	)
Accrued liabilities		(403	)		—		(403	)
	$	25,836		$	299	$	26,135

	April 14, 2021			Measurement Period			April 14, 2021
	(as initially reported)			Adjustments			(as adjusted)
Accounts receivable	$	3,454		$	(61	)	$	3,393
Inventory		3,892			—			3,892
Property, plant and equipment		1,342			—			1,342
Other assets		493			(91	)		402
Tradenames		10,760			—			10,760
Customer relationships		14,640			—			14,640
Patents		1,970			—			1,970
Technology intangibles		110			—			110
Goodwill		17,426			(420	)		17,006
Accounts payable		(2,032	)		110			(1,922	)
Accrued liabilities		(489	)		139			(350	)
	$	51,566		$	(323	)	$	51,243

Business Acquisition, Pro Forma Information [Table Text Block]

	For the year ended December 31,
	2021
Pro forma net sales	$	727,369
Pro forma net income		(16,248	)

Note 15 - Equity-based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]

	Unvested Restricted Stock Awards
				Weighted Average
	Number of RSAs			Grant Date Fair Value
Balance on December 31, 2022		1,108,330		$	9.43
Granted (1)		4,954,177			2.60
Vested		(823,337	)		4.96
Forfeited		(334,369	)		8.19
Balance on December 31, 2023		4,904,801		$	2.86

Schedule of Share-Based Payment Award, Equity Instruments Other Than Options, Valuation Assumptions [Table Text Block]

	For the year ended
	December 31, 2023
Expected volatility		60.5	%
Expected dividend		—
Risk-free interest rate		3.67	%

Share-Based Payment Arrangement, Option, Activity [Table Text Block]

						Weighted Average
				Weighted		Remaining		Aggregate
	Number of			Average		Contractual		Intrinsic Value
	Stock Options			Exercise Price		Term (years)		(in millions)
Options outstanding on December 31, 2022		1,709,690		$	10.97
Forfeited		(628,770	)		11.12
Expired		(194,874	)		10.50
Options outstanding on December 31, 2023		886,046		$	10.97		7.33	$	—
Options exercisable on, December 31, 2023		512,370		$	10.79		6.94	$	—

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

	For the years ended December 31,
	2022			2021
Weighted-average expected term	6.0 years			6.0 years
Expected volatility		36.0% - 40.0	%		40.3	%
Expected dividend		—			—
Risk-free interest rate		1.98% - 3.06	%		0.94	%

Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]

	For the years ended December 31,
	2023		2022		2021
Restricted stock units	$	4,371	$	4,304	$	1,070
Performance stock units		2,343		—		—
Stock options		577		2,349		824
Profit interest units		—		17,742		3,069

Profit Interest Units [Member]

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

	For the years ended December 31,
	2022			2021
Weighted-average expected term		3.0 years			2.0 years
Expected volatility		65.0	%		55.0	%
Expected dividend		—			—
Risk-free interest rate		4.3	%		0.3	%

Note 3 - Inventory (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Inventory, Current [Table Text Block]

	December 31,
	2023		2022
Raw materials	$	63,552	$	78,586
Work-in-process		22,619		23,906
Finished goods		106,089		131,081
	$	192,260	$	233,573

Note 2 - Business Combination, Acquisitions, and Divestiture - Summary of Reconciles Elements of Business Combination to Cash Flows (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Cash - Empower's trust and cash (net of redemptions of $99,353 and transaction costs of $44,314)	$ 107,017
Cash - Forward Purchase Agreement	50,000
Cash - PIPE Financing	240,000
Net cash provided by Business Combination and PIPE Financing	397,017
Less: cash consideration paid to Holley Stockholder	(264,718)
Net contributions from Business Combination and PIPE Financing	$ 132,299

Note 14 - Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2023

Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan [Table Text Block]

	December 31,
	2022
Change in Projected Benefit Obligation:
Benefit obligation, January 1	$	6,104
Service cost		113
Interest cost		138
Plan curtailments		(5,185	)
Benefits paid		(299	)
Expenses paid		(149	)
Actuarial (gain) loss		(722	)
Benefit obligation, December 31	$	—
Change in Plan Assets:
Fair value of plan assets, January 1	$	5,242
Actual return on plan assets		(374	)
Employer contributions		765
Plan settlements		(5,185	)
Benefits paid from plan assets		(299	)
Expenses paid		(149	)
Fair value of plan net assets, December 31	$	—
Funded status at end of period	$	—

Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

	For the years ended December 31,
	2022			2021
Actuarial gain arising during measurement period	$	(129	)	$	(513	)
Amortization of actuarial loss		(154	)		(25	)
Total recognized in other comprehensive (income) loss	$	(283	)	$	(538	)

Schedule of Net Benefit Costs [Table Text Block]

	For the years ended December 31,
	2022			2021
Components of expense:
Service cost	$	113		$	143
Interest cost		138			152
Expected return on plan assets		(218	)		(240	)
Settlement loss recognized		154			—
Amortization of net loss		—			25
Net periodic benefit cost	$	187		$	80

Defined Benefit Plan, Assumptions [Table Text Block]

	December 31,
	2022
Discount rate		2.78	%
Expected return on plan assets		5.20	%

Note 17 - Major Reseller Customers (Details Textual) - Minimum [Member] - Customer Concentration Risk [Member] - Reseller Customers [Member]	12 Months Ended
	Dec. 31, 2023
Revenue Benchmark [Member]
Concentration Risk, Percentage	5.00%
Accounts Receivable [Member]
Concentration Risk, Percentage	10.00%

Note 9 - Derivative Instruments (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jan. 04, 2023
Unrealized Gain (Loss) on Derivatives	$ (1,164)	$ (0)	$ (0)
Designated as Hedging Instrument [Member] \| Interest Rate Contract [Member]
Derivative, Notional Amount				$ 500,000
Derivative, Floor Interest Rate				2.811%
Derivative, Cap Interest Rate				5.00%
Derivative Liability	1,164
Unrealized Gain (Loss) on Derivatives	1,164
Payments for (Proceeds from) Hedge, Investing Activities	$ 620

Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 946
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The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period.