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CONVERTIBLE AND OTHER NOTES PAYABLE (Tables) | 9 Months Ended
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Sep. 30, 2025
Debt Disclosure [Abstract] |
Schedule of Notes Payable | Notes payable as of September 30, 2025 and December 31, 2024, consists of the following (in thousands):
| Stated Interest Rate | Effective Interest Rates |  | Maturities |  | September 30, 2025 |  | December 31, 2024
Convertible Notes: |  |  |  |  |  |  |  |
2031 Convertible Notes | —% | 0.4% |  | 2031 |  | 625,000 |  |  | 625,000 |
2029 Convertible Notes | 3.0% | 3.7% |  | 2029 |  | 460,000 |  |  | 460,000 |
Equipment and Settlement: |  |  |  |  |  |  |  |
Bremer loan | 5.5% | 5.5% |  | 2027 |  | — |  |  | 10,669 |
Didado note | 5.0% | 15.0% |  | 2027 |  | — |  |  | 8,964 |
HMC note | 5.0% | 15.0% |  | 2026 |  | — |  |  | 9,042 |
Harper note | 5.0% | 15.0% |  | 2026 |  | — |  |  | 3,119 |
Trilogy note | 5.0% | 15.0% |  | 2026 |  | — |  |  | 2,107 |
Other: |  |  |  |  |  |  |  |
ACM note | —% | 15.0% |  | 2025 |  | 621 |  |  | 3,023 |
Other | 7.1% - 7.7% | 7.1% - 7.7% |  | 2025 |  | — |  |  | 129 |
Notes payable |  |  |  |  |  | 1,085,621 |  |  | 1,122,053 |
Less: Unamortized discounts |  |  |  |  | 25,993 |  |  | 31,773 |
Total notes payable, net |  |  |  |  |  | 1,059,628 |  |  | 1,090,280 |
Less: current portion 1 |  |  |  |  |  | 621 |  |  | 16,290 |
Convertible and other notes payable, net of current portion |  |  |  |  |  | $ | 1,059,007 |  |  | $ | 1,073,990 |
1 The current portion is included in Customer funding receivable and other current assets on the consolidated balance sheet.
Schedule of Convertible Notes | Interest expense on the 2029 Convertible Notes and 2031 Convertible Notes (together “Convertible Notes”) was as follows (in thousands):
| Three Months Ended September 30, 2025 |  | Nine Months Ended September 30, 2025
Coupon interest | $ | 3,450 |  |  | $ | 10,350 |
Amortization of debt discount and issuance costs | 1,311 |  |  | 3,912 |
Total | $ | 4,761 |  |  | $ | 14,262 |
Schedule of Maturities of Long-Term Debt | Maturities on convertible and other notes payable, gross of unamortized discounts, are as follows (in thousands):
| Convertible Notes |  | Other Notes Payable
Remaining 2025 | $ | — |  |  | $ | 621 |
2026 | — |  |  | — |
2027 | — |  |  | — |
2028 | — |  |  | — |
2029 | 460,000 |  |  | — |
Thereafter | 625,000 |  |  | — |
Total | $ | 1,085,000 |  |  | $ | 621 |

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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