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Convertible Senior Notes (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Debt Outstanding
The following table presents certain terms of the Notes that were outstanding as of December 31, 2024:
2027 Notes 2025 Notes Livongo Notes
Principal Amount Outstanding as of December 31, 2024 (in thousands)$1,000,000 $725 $550,000 
Interest Rate Per Year1.25 %1.375 %0.875 %
Fair Value as of December 31, 2024 (in thousands) (1)$875,000 $587 $535,700 
Fair Value as of December 31, 2023 (in thousands) (1)$822,000 $291 $513,700 
Maturity DateJune 1, 2027May 15, 2025June 1, 2025
Optional Redemption DateJune 5, 2024May 22, 2022June 5, 2023
Conversion DateDecember 1, 2026November 15, 2024March 1, 2025
Conversion Rate Per $1,000 Principal Amount as of December 31, 2024
4.125818.662113.94
Remaining Contractual Life as of December 31, 20242.4 years0.4 years0.4 years
(1)The Notes would be classified as Level 2 within the fair value hierarchy, as defined in Note 2. “Summary of Significant Accounting Policies.”
Net Carrying Values of Debt
The net carrying values of the Notes consisted of the following (in thousands):
2025 Notes As of December 31,
2024		As of December 31,
2023
Principal$725 $725 
Less: Debt discount (1)(2)(4)
Net carrying amount723 721 
Livongo Notes
Principal550,000 550,000 
Less: Debt discount (1)— — 
Net carrying amount550,000 550,000 
2027 Notes
Principal1,000,000 1,000,000 
Less: Debt discount (1)(8,582)(12,033)
Net carrying amount991,418 987,967 
Total net carrying amount$1,542,141 $1,538,688 
Convertible senior notes, net—current$550,723 $— 
Convertible senior notes, net—non-current991,418 1,538,688 
Total net carrying amount$1,542,141 $1,538,688 
(1)Included in the accompanying Consolidated Balance Sheets within Convertible senior notes, net—current and Convertible senior notes, net—non-current and amortized to interest expense over the expected life of the Notes using the effective interest rate method.
Total Interest Expense Recognized Related to Debt
The following table sets forth total interest expense recognized related to the Notes (in thousands):
Year Ended
December 31,
2025 Notes202420232022
Contractual interest expense$10 $10 $10 
Amortization of debt discount3 3 3 
Total$13 $13 $13 
Effective interest rate 1.8 %1.8 %1.8 %
Year Ended
December 31,
Livongo Notes202420232022
Contractual interest expense$4,813 $4,813 $4,813 
Amortization of debt discount— — — 
Total$4,813 $4,813 $4,813 
Effective interest rate 0.9 %0.9 %0.9 %
Year Ended
December 31,
2027 Notes202420232022
Contractual interest expense$12,500 $12,500 $12,500 
Amortization of debt discount3,451 3,396 3,342 
Total$15,951 $15,896 $15,842 
Effective interest rate 1.6 %1.6 %1.6 %