Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Schedule of Net Carrying Amount of the Outstanding Long-Term Debt

The following table sets forth the net carrying amount of the Company’s long-term debt (in thousands):

Debt Instrument	Maturity Date	December 31, 2025		December 31, 2024
2030 Senior Notes	August 15, 2030	$	350,000	$	400,000
Term Loan under Credit Agreement (1)	September 11, 2030	302,250		370,000
Revolving Credit Facility under Credit Agreement (2)	September 11, 2030	—		—
2026 Convertible Notes	March 15, 2026	609,065		609,065
2025 Convertible Notes (3)	March 1, 2025	—		$	161,326
Total principal amount		1,261,315		$	1,540,391
Less: unamortized debt discount and issuance costs on long-term debt		(7,519)		$	(11,258)
Less: current portion of long-term debt, net (4)		(624,216)		$	(181,252)
Net carrying amount of long-term debt		$	629,580	$	1,347,881

(1)The Company has $650.0 million available for drawdown under the Term Loan as of December 31, 2025.

(2)The Company has $305.0 million available for borrowing under the Revolving Credit Facility as of December 31, 2025.

(3)The Company settled the remaining $161.3 million principal of the 2025 Convertible Notes in cash on the original maturity date in March 2025.

(4)As of December 31, 2025, the current portion of long-term debt, net, consists of the $608.7 million net carrying amount of the 2026 Convertible Notes and $15.5 million in expected principal payments due on the Term Loan. The Term Loan requires quarterly principal payments of 1.25% of the refinanced $310.0 million principal amount drawn, with balance due at maturity.

Schedule of Future Minimum Principal Payments of the Term Facility

The following table sets forth the future minimum principal payments for long-term debt as of December 31, 2025 (in thousands):

	2026 Convertible Notes		Term Loan		2030 Senior Notes		Total
2026	$	609,065	$	15,500	$	—	$	624,565
2027	—		15,500		—		15,500
2028	—		15,500		—		15,500
2029	—		15,500		—		15,500
2030 onwards	—		240,250		350,000		590,250
Total principal amount	$	609,065	$	302,250	$	350,000	$	1,261,315

Schedule of Debt Terms

	2026 Convertible Notes
$1,000 principal amount initially convertible into number of the Company’s Class A Common Stock par value $0.0001	2.3583 shares
Equivalent initial approximate conversion price per share	$	424.03

Schedule of Interest Expense on Long-Term Debt

The following table sets forth the interest expense recognized related to long-term debt (in thousands):

	Twelve Months Ended December 31,
	2025		2024		2023
Contractual interest expense	$	52,857	$	59,138	$	29,285
Amortization of debt discount and issuance costs	4,627		4,272		4,566
Total interest expense related to long-term debt	$	57,484	$	63,410	$	33,851

Schedule Of Future Minimum Contractual Interest For Long-term Debt

The following table sets forth the future minimum contractual interest for long-term debt as of December 31, 2025 (in thousands):

	Term Loan (1)		2030 Senior Notes		Total
2026	$	17,954	$	29,750	$	47,704
2027	17,748		29,750		47,498
2028	15,152		29,750		44,902
2029	14,054		29,750		43,804
2030 onwards	9,261		29,750		39,011
Total contractual interest amount	$	74,169	$	148,750	$	222,919

(1)Includes the impact of interest rate swap. Refer to Note 7 - Derivative Instruments in this Annual Report on Form 10-K for additional information.

The following table sets forth our non-cancellable open purchase obligations for each of the next five years and thereafter as of December 31, 2025 (in thousands):

	Purchase Obligations
2026	$	63,111
2027	40,033
2028	29,933
2029	4,646
2030	511
Total	$	138,234