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Debt (Tables)
3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Schedule of Outstanding Debt Obligations and Interest Expense Related to Convertible Debt
Outstanding debt obligations as of March 31, 2026 and December 31, 2025 were as follows (in thousands, except for percentages):
Maturities
Interest Rates as of March 31, 2026
March 31,
2026
December 31,
2025
Convertible senior notes due 2029 (the “2029 Notes”)
March 20290.625%$452,993 $452,421 
Convertible senior notes due 2030 (the “2030 Notes”)
September 2030
0%489,135 488,542 
Non-revolving Loan2026
NA
— 16 
Master Vehicle Loan
2026 - 2028
5.85% - 7.10%
100,607 112,032 
Total long-term debt, including current maturities$1,042,735 $1,053,011 
Less: Long-term debt, current(1)
56,117 50,607 
Total long-term debt$986,618 $1,002,404 
_______________
(1)This balance is included within accrued and other current liabilities on the condensed consolidated balance sheets and is primarily related to vehicles.
NANot applicable.
The following table sets forth the primary components of interest expense as reported on the condensed consolidated statements of operations (in thousands):
Three Months Ended March 31,
20262025
Contractual interest expense related to the 2025 Notes and 2029 Notes(1)
$719 $2,184 
Amortization of debt discount and issuance costs related to the 2025 Notes, 2029 Notes and 2030 Notes
1,165 927 
Vehicle loans and other interest expense3,341 3,039 
Interest expense$5,225 $6,150 
_______________
(1)There is no contractual interest expense related to the 2030 Notes as the 2030 Notes have a 0% interest rate.
Schedule of Debt Conversion and Redemption Options
The following table sets forth the conversion and redemption options with respect to the Notes outstanding as of March 31, 2026:
Free Conversion Date
Initial Conversion Rate per $1,000 Principal Amount(1)
Initial Conversion Price per Share(1)
Redeemable After
2029 Notes
December 1, 2028
47.4366 $21.08 March 5, 2027
2030 Notes
June 15, 2030
42.5170 $23.52 September 20, 2028
_______________
(1)The conversion rate is subject to adjustment under certain circumstances in accordance with the terms of the indentures governing the 2029 Notes and 2030 Notes.
Schedule of Convertible Notes
The net carrying amounts of the Notes outstanding were as follows (in thousands):
March 31,
2026
December 31,
2025
2029 Notes
Principal$460,000 $460,000 
Unamortized debt discount and debt issuance costs
(7,007)(7,579)
Net carrying amount of liability component$452,993 $452,421 
2030 Notes
Principal$500,000 $500,000 
Unamortized debt discount and debt issuance costs
(10,865)(11,458)
Net carrying amount of liability component$489,135 $488,542