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Convertible Senior Notes (Tables)
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Schedule of Convertible Senior Notes
The Company has existing debt agreements with third parties, which consist of the following (in thousands):
As of December 31,
20232022
Convertible Senior Notes
Current liabilities
2025 Notes - secured, carried at fair value
$291,715 $— 
Net carrying amount$291,715 $— 
Non-current liabilities:
2025 Notes - secured, carried at fair value
272,671 — 
2026 Notes - unsecured, carried at unamortized cost
662,557 660,822 
Net carrying amount$935,228 $660,822 
The 2026 Notes consisted of the following (in thousands):
As of December 31,
20232022
Convertible Senior 2026 Notes
Principal$667,500 $667,500 
Unamortized debt issuance costs(4,943)(6,678)
Net carrying amount$662,557 $660,822 
Schedule of Changes in Level 3 Liability Measured at Fair Value
The following table summarizes financial instruments carried at fair value for the year ended December 31, 2023 (in thousands):

 2025 Notes, at fair value
Fair value - December 31, 2022
$— 
Initial recognition of 2025 Notes
450,000 
Conversion of 2025 Notes to Class A Common Stock(213,437)
Fair value measurement adjustments
327,823 
Fair value - December 31, 2023
$564,386 
A reconciliation of the beginning and ending balances for the 2025 Notes, which are measured at fair value is as follows for the year ended December 31, 2023 (in thousands):

 2025 Notes, at fair value
Fair value - December 31, 2022$— 
Initial recognition of 2025 Notes
450,000 
Conversion of 2025 Notes to Class A Common Stock(213,437)
Fair value measurement adjustments
327,823 
Fair value - December 31, 2023$564,386 
Schedule of Principal Maturities of Convertible Senior Notes
The future scheduled principal maturities of convertible senior notes as of December 31, 2023 are as follows (in thousands):
Year Ended
December 31, 2023
2024
312,833 
2025
51,667 
2026
667,500 
$1,032,000