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Debt (Tables) | 9 Months Ended
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Sep. 30, 2025
Debt Disclosure [Abstract] |
Schedule of Long-term Debt | Current and long term debt as of September 30, 2025 and December 31, 2024 consisted of the following:
| September 30, 2025 |  | December 31, 2024
| (in thousands)
Convertible Senior Notes | $ | 205,067 |  |  | $ | 205,067 |
Less: Unamortized debt issuance costs | (545) |  |  | (1,424) |
Net carrying value of Convertible Senior Notes | 204,522 |  |  | 203,643 |
2024 Term Loan B Facility | 361,361 |  |  | 363,177 |
Less: Unamortized debt discount and issuance costs | (9,618) |  |  | (13,075) |
Net carrying value of 2024 Term Loan B Facility | 351,743 |  |  | 350,102 |
Balance Sheet Presentation: |  |  |
Debt, current, net of debt issuance costs | 208,154 |  |  | 3,641 |
Debt, non-current, net of debt discount and issuance costs | 348,111 |  |  | 550,104 |
Total debt | $ | 556,265 |  |  | $ | 553,745 |
Schedule of Maturities of Long-term Debt | Maturities of the principal amount of the Company's debt were as follows as of September 30, 2025 (in thousands):
Fiscal Year |
Remaining 2025 | $ | 908 |
2026 | 208,699 |
2027 | 3,632 |
2028 | 3,632 |
2029 | 3,632 |
Thereafter | 345,925 |
Total | $ | 566,428 |
The estimated remaining amortization expense for the Company's debt issuance costs related to the Convertible Senior Notes was as follows as of September 30, 2025 (in thousands):
Fiscal Year | Debt Issuance Costs
Remaining 2025 | $ | 293 |
2026 | 252 |
Total | $ | 545 |
mortization expense for the 2024 Term Loan B Facility debt discount and debt issuance costs was as follows as of September 30, 2025 (in thousands):
Fiscal Year | Debt Discount |  | Debt Issuance Costs
Remaining 2025 | $ | 215 |  |  | $ | 246 |
2026 | 856 |  |  | 978 |
2027 | 847 |  |  | 968 |
2028 | 839 |  |  | 958 |
2029 | 830 |  |  | 948 |
Thereafter | 903 |  |  | 1,030 |
Total | $ | 4,490 |  |  | $ | 5,128 |
Summary of Interest Expense and Interest Income | The following table sets forth interest expense related to the Convertible Senior Notes for the three and nine months ended September 30, 2025 and 2024 (in thousands, except interest rates):
| Three Months Ended |  | Nine Months Ended
| September 30, 2025 |  | September 30, 2024 |  | September 30, 2025 |  | September 30, 2024
Contractual interest expense | $ | 129 |  |  | $ | 129 |  |  | $ | 385 |  |  | $ | 385 |
Amortization of debt issuance costs | 292 |  |  | 293 |  |  | 879 |  |  | 880 |
Total interest expense | $ | 421 |  |  | $ | 422 |  |  | $ | 1,264 |  |  | $ | 1,265 |
Effective interest rate | 0.82 | % |  | 0.82 | % |  | 0.82 | % |  | 0.82 | %
The following table sets forth interest expense related to the 2024 Term Loan B Facility and the 2021 Term Loan B Facility (in thousands, except interest rates):
| Three Months Ended |  | Nine Months Ended
| September 30, 2025 |  | September 30, 2024 |  | September 30, 2025 |  | September 30, 2024
Contractual interest expense | $ | 6,786 |  |  | $ | 9,084 |  |  | $ | 20,738 |  |  | $ | 27,282 |
Amortization of debt discount | 216 |  |  | 264 |  |  | 688 |  |  | 848 |
Amortization of debt issuance costs | 247 |  |  | 292 |  |  | 776 |  |  | 1,008 |
Total interest expense | $ | 7,249 |  |  | $ | 9,640 |  |  | $ | 22,202 |  |  | $ | 29,138 |
Effective interest rate | 8.00 | % |  | 10.59 | % |  | 8.16 | % |  | 10.71 | %
The following includes interest expense and interest income, as presented within interest expense, net in the condensed consolidated statement of operations (in thousands):
| Three Months Ended |  | Nine Months Ended
| September 30, 2025 |  | September 30, 2024 |  | September 30, 2025 |  | September 30, 2024
Interest expense | $ | 7,901 |  |  | $ | 10,522 |  |  | $ | 24,122 |  |  | $ | 31,140 |
Interest income | (3,233) |  |  | (3,674) |  |  | (9,206) |  |  | (9,541) |
Interest expense, net | $ | 4,668 |  |  | $ | 6,848 |  |  | $ | 14,916 |  |  | $ | 21,599 |
Schedule of Debt | The following table summarizes the amount outstanding under the Company's 2024 Term Loan B Facility at September 30, 2025 and December 31, 2024:
| September 30, 2025 |  | December 31, 2024 |
| (in thousands)
2024 Term Loan B Facility | $ | 361,361 |  |  | $ | 363,177 |  |
Unamortized debt discount | (4,490) |  |  | (6,198) |  |
Unamortized debt issuance costs | (5,128) |  |  | (6,877) |  |
2024 Term Loan B Facility, net of debt discount and issuance costs | $ | 351,743 |  |  | $ | 350,102 |  |

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