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DEBT | 9 Months Ended
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Sep. 30, 2025
Debt Disclosure [Abstract] |
DEBT | DEBT Convertible Notes As of September 30, 2025, the Company had outstanding fixed-rate convertible notes for an undiscounted aggregate principal amount of $600.0 million. The convertible notes detailed below are senior subordinated convertible obligations, and interest is payable in arrears, semi-annually. The following table summarizes information regarding the Company’s convertible debt:
| September 30, 2025 |  | December 31, 2024
1.25% senior subordinated convertible notes due in May 2027 (the 2027 Notes) | $ | 600,000 |  |  | $ | 600,000 |
Unamortized discount net of deferred offering costs | (3,337) |  |  | (4,862) |
Total convertible debt, net | $ | 596,663 |  |  | $ | 595,138 |
Fair value of fixed-rate convertible debt(1) : |  |  |
2027 Notes | $ | 569,841 |  |  | $ | 558,894 |
(1) The fair value of the Company’s fixed-rate convertible debt is based on open-market trades and classified as Level 1 in the fair value hierarchy. For additional discussion of fair value measurements, see Note 1 – Business Overview and Significant Accounting Policies to the Company’s Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. Interest expense on the Company’s convertible debt consisted of the following:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Coupon interest expense | $ | 1,875 |  |  | $ | 2,456 |  |  | $ | 5,625 |  |  | $ | 7,689 |
Accretion of discount on convertible notes | 486 |  |  | 606 |  |  | 1,456 |  |  | 2,290 |
Amortization of debt issuance costs | 27 |  |  | 67 |  |  | 80 |  |  | 364 |
Total interest expense on convertible debt | $ | 2,388 |  |  | $ | 3,129 |  |  | $ | 7,161 |  |  | $ | 10,343 |
See Note 10 - Debt to the Company’s Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 for additional information related to the Company’s convertible debt.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/470/tableOfContent + Details
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