Debt - (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The following table presents the carrying amounts and estimated fair values of our convertible senior notes that are not recorded at fair value on our consolidated balance sheets:

	December 31, 2023				December 31, 2022
Issuance	Net Carrying Amount		Estimated Fair Value		Net Carrying Amount		Estimated Fair Value
2023 notes	$	—	$	—	$	23,431	$	22,147
2025 notes	192,002		164,113		512,683		309,292
2027 notes	496,735		325,927		565,474		267,398

As of December 31, 2023, outstanding borrowings of our debt are as follows:

	Maturity of Debt
Lender	2024		2025		2026		2027		2028		Thereafter
Warehouse Credit Facilities
City National Bank	$	20,046	$	—	$	—	$	—	$	—	$	—
Origin Bank	30,110		—		—		—		—		—
M&T Bank	18,870		—		—		—		—		—
Prosperity Bank	29,358		—		—		—		—		—
Republic Bank & Trust Company	23,415		—		—		—		—		—
Wells Fargo Bank, N.A.	30,165		—		—		—		—		—
Term Loan	—		—		—		—		124,416		—
Convertible Senior Notes
2025 notes	—		192,002		—		—		—		—
2027 notes	—		—		—		496,735		—		—
Total borrowings	$	151,964	$	192,002	$	—	$	496,735	$	124,416	$	—

The following table summarizes borrowings under these facilities as of the periods presented:

	December 31, 2023						December 31, 2022
Lender	Borrowing Capacity		Outstanding Borrowings		Weighted-Average Interest Rate on Outstanding Borrowings		Borrowing Capacity		Outstanding Borrowings		Weighted-Average Interest Rate on Outstanding Borrowings
City National Bank	$	50,000	$	20,046	7.24	%	$	75,000	$	27,288	5.89	%
Comerica Bank	N/A		N/A		N/A		75,000		26,526		6.36	%
Origin Bank	75,000		30,110		7.25	%	75,000		23,739		5.98	%
M&T Bank	50,000		18,870		7.39	%	50,000		19,126		6.45	%
Prosperity Bank	75,000		29,358		7.23	%	100,000		35,856		6.18	%
Republic Bank & Trust Company	45,000		23,415		7.28	%	75,000		26,636		5.81	%
Wells Fargo Bank, N.A.	100,000		30,165		7.36	%	100,000		31,338		6.41	%
Total	$	395,000	$	151,964			$	550,000	$	190,509

Schedule of Capitalization

The components of the term loan were as follows:

December 31, 2023
Aggregate Principal Amount	Unamortized Debt Discount	Unamortized Debt Issuance Costs	Net Carrying Amount
124,688	—	272	124,416

Convertible Senior Notes

We have issued convertible senior notes with the following characteristics:

Issuance	Maturity Date	Stated Cash Interest Rate		Effective Interest Rate		First Interest Payment Date	Semi-Annual Interest Payment Dates	Conversion Rate
2025 notes	October 15, 2025	—	%	0.42	%	—	—	13.7920
2027 notes	April 1, 2027	0.50	%	0.90	%	October 1, 2021	April 1; October 1	10.6920

The following table describes repurchase activity for the year ended December 31, 2023:

	Repurchase Program			Repurchases in Conjunction with Apollo Term Loan
Issuance	Principal	Cash Paid	Gain on Extinguishment	Principal	Cash Paid	Gain on Extinguishment
2025 notes	320,283	241,808	75,204	5,000	4,075	664
2027 notes	—	—	—	71,894	46,754	18,151

Interest Income and Interest Expense Disclosure

The components of the convertible senior notes are as follows:

	December 31, 2023
Issuance	Aggregate Principal Amount	Unamortized Debt Issuance Costs	Net Carrying Amount
2025 notes	193,445	1,443	192,002
2027 notes	503,106	6,371	496,735

	December 31, 2022
Issuance	Aggregate Principal Amount		Unamortized Debt Issuance Costs		Net Carrying Amount
2023 notes	$	23,512	$	81	$	23,431
2025 notes	518,728		6,045		512,683
2027 notes	575,000		9,526		565,474

	Year End December 31,
	2023		2022		2021
2023 notes
Contractual interest expense	$	223	$	411	$	413
Amortization of debt issuance costs	81		150		189
Total interest expense	$	304	$	561	$	602
2025 notes
Contractual interest expense	—		—		—
Amortization of debt issuance costs	4,602		2,706		2,760
Total interest expense	$	4,602	$	2,706	$	2,760
2027 notes
Contractual interest expense	2,785		2,875		2,187
Amortization of debt issuance costs	3,151		2,240		1,705
Total interest expense	$	5,936	$	5,115	$	3,892
Total
Contractual interest expense	3,008		3,286		2,600
Amortization of debt issuance costs	7,834		5,096		4,654
Total interest expense	$	10,842	$	8,382	$	7,254