Convertible Debt Instruments (Tables)

3 Months Ended

Mar. 31, 2025

6.0% Convertible Debenture

Convertible Debt Instruments

Schedule of change in carrying amount of convertible debt

The following table shows change in the carrying amount of the 6.00% Convertible Debenture (in thousands):

	Three months ended
	March 31, 2025
Beginning balance as of December 31, 2024	$	173,150
Payments of principal settled in cash		(45,000)
Payment of principal settled in common stock		(30,000)
Loss on extinguishment of convertible debenture		2,416
Change in fair value of the convertible debenture		7,338
Amortization of discount		746
Ending balance as of March 31, 2025	$	108,650

Schedule of debt

The following table summarizes the total interest expense and effective interest rate related to the 6.00% Convertible Debenture for the three months ended March 31, 2025 (in thousands, except for the effective interest rate):

	Three months ended
	March 31, 2025
Interest expense	$	1,881
Amortization of discount		746
Total	$	2,627
Effective interest rate		8.8%

7.0% Convertible Senior Notes

Convertible Debt Instruments

Schedule of Convertible Senior Notes

As of March 31, 2025 and December 2024, the 7.00% Convertible Senior Notes consisted of the following (in thousands):

	March 31, 2025		December 31, 2024
Principal amounts:
Principal	$	140,396	$	140,396
Unamortized debt premium, net of offering costs(1)		6,231		7,514
Net carrying amount	$	146,627	$	147,910

(1) Included in the unaudited interim condensed consolidated balance sheets within convertible debt instruments, net and amortized over the remaining life of the notes using the effective interest rate method.

Schedule of debt

The following table summarizes the total interest expense and effective interest rate related to the 7.00% Convertible Senior Notes for the three months ended March 31, 2025 and 2024 (in thousands, except for the effective interest rate):

	Three months ended
	March 31, 2025		March 31, 2024
Interest expense	$	2,423	$	296
Amortization of premium		(1,284)		(159)
Total	$	1,139	$	137
Effective interest rate		3.0%		3.0%

3.75% Convertible Senior Notes

Convertible Debt Instruments

Schedule of Convertible Senior Notes

As of March 31, 2025 and December 2024, the 3.75% Convertible Senior Notes consisted of the following (in thousands):

	March 31, 2025		December 31, 2024
Principal amounts:
Principal	$	58,462	$	58,462
Unamortized debt issuance costs(1)		(78)		(189)
Net carrying amount	$	58,384	$	58,273

(1) Included in the unaudited interim condensed consolidated balance sheets within convertible debt instruments, net and amortized over the remaining life of the notes using the effective interest rate method.

Schedule of debt

The following table summarizes the total interest expense and effective interest rate related to the 3.75% Convertible Senior Notes for the three months ended March 31, 2025 and 2024 (in thousands, except for the effective interest rate):

	Three months ended
	March 31, 2025		March 31, 2024
Interest expense	$	548	$	1,690
Amortization of debt issuance costs		111		316
Total	$	659	$	2,006
Effective interest rate		4.5%		4.5%