XML 36 R26.htm IDEA: XBRL DOCUMENT v3.25.2
Long-term Debt (Tables)
6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Summary of Outstanding Principal Amount and Carrying Value

The following table presents the outstanding principal amount and carrying value of the 2021 Notes as of the dates indicated (in thousands):

 

June 30, 2025

 

 

December 31, 2024

 

 

 

Principal Amount

 

 

Unamortized debt issuance costs

 

 

Net Carrying Amount

 

 

Principal Amount

 

 

Unamortized debt issuance costs

 

 

Net Carrying Amount

 

 

2021 Notes

 

287,498

 

 

 

(3,177

)

 

 

284,321

 

 

 

287,500

 

 

 

(4,007

)

 

 

283,493

 

 

Schedule of Notes

Further details of the 2021 Notes are as follows:

Issuance

 

Maturity Date

 

Interest Rate

 

First Interest Payment Date

 

Effective Interest Rate

 

Semi-Annual Interest Payment Dates

 

Initial Conversion Rate per $1,000 Principal

 

Initial Conversion Price

 

 

Number of Shares (in millions)

2021 Notes

 

May 15, 2027

 

1.125%

 

May 15, 2022

 

1.72%

 

May 15; November 15

 

9.0061

 

$

111.04

 

 

2.6

 

Schedule of Interest Expense

Interest expense related to the Notes was as follows (in thousands):

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

2021 Notes

 

 

2021 Notes

 

 

2021 Notes

 

 

2021 Notes

 

Amortization of debt issuance costs

 

416

 

 

 

409

 

 

 

830

 

 

 

816

 

Cash interest expense

 

809

 

 

 

808

 

 

 

1,618

 

 

 

1,617

 

Total interest expense

$

1,225

 

 

$

1,217

 

 

$

2,448

 

 

$

2,433