Convertible Senior Notes

3 Months Ended

Mar. 31, 2026

Convertible Senior Notes

Convertible Senior Notes

Note 11. Convertible Senior Notes

Convertible Senior Notes payable consisted of the following at March 31, 2026 and December 31, 2025 (in thousands):

	March 31,		December 31,
	2026		2025
Principal amount of 2026 Convertible Senior Notes	$	186,185	$	186,185
Less: unamortized debt issuance costs		(795)		(1,091)
Total carrying value of Convertible Senior Notes, net	$	185,390	$	185,094

The 2026 Convertible Senior Notes payable of $186.2 million are due and payable in December 2026. The 2025 Convertible Senior Notes matured on June 1, 2025.

Interest expense incurred in connection with the Convertible Senior Notes consisted of the following for the three months ended March 31, 2026 and 2025 (in thousands):

	March 31,
	2026		2025
Coupon interest	$	349	$	457
Amortization of debt issuance costs		296		320
Total interest expense on Convertible Senior Notes	$	645	$	777

See Note 12 – Convertible Senior Notes to the Company’s consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 for additional information related to the Company’s Convertible Senior Notes.