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Convertible Senior Notes (Tables)
6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Net Carrying Amount of Liability and Equity Component of 2025 Notes
The net carrying amount of the Notes was as follows (in thousands):
June 30,
2025
December 31,
2024
2025 Notes:
Principal$— $635,448 
Unamortized debt issuance costs— (1,425)
Net carrying amount$— $634,023 
2029 Notes:
Principal$1,000,000 $1,000,000 
Unamortized debt issuance costs(18,643)(20,718)
Net carrying amount$981,357 $979,282 
Schedule of Interest Expense related to 2025 and 2029 Notes
The following table sets forth the interest expense related to the 2025 and 2029 Notes for the three and six months ended June 30, 2025 and 2024 (in thousands):
Three Months Ended
June 30,
Six Months Ended
June 30,
2025202420252024
Contractual interest expense$165 $233 $364 $467 
Amortization of issuance costs1,691 910 3,510 1,760 
Total$1,856 $1,143 $3,874 $2,227 
Schedule of Capped Calls
The following table sets forth key terms and costs incurred for the Capped Calls related to each of the Notes (in millions, except per share amounts):
2025 Notes2029 Notes
Initial strike price per share, subject to certain adjustments$92.30 $217.60 
Initial cap price per share, subject to certain adjustments$151.40 $322.38 
Net cost incurred$89.6 $100.9 
Common stock covered, subject to anti-dilution adjustments8.1 4.6