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Debt Commitments and Contingencies (Tables)
6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Outstanding Principal Amount and Carrying Value of Convertible Notes

The following table presents the outstanding principal amount and carrying value of the Convertible Notes as of the dates indicated (in thousands):

 

 

June 30, 2025

 

 

 

Principal

 

 

Unamortized Debt Discount

 

 

Unamortized Debt Issuance Costs

 

 

Carrying Value

 

2027 Notes

 

$

85,805

 

 

$

(814

)

 

$

(63

)

 

$

84,928

 

2030 Notes

 

 

250,000

 

 

 

(7,425

)

 

 

(1,113

)

 

 

241,462

 

Total

 

$

335,805

 

 

$

(8,239

)

 

$

(1,176

)

 

$

326,390

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

 

Principal

 

 

Unamortized Debt Discount

 

 

Unamortized Debt Issuance Costs

 

 

Carrying Value

 

2027 Notes

 

$

287,500

 

 

$

(3,594

)

 

$

(278

)

 

$

283,628

 

 

Schedule of Interest Expense Related to Convertible Notes Interest expense related to the Convertible Notes for the periods presented below was as follows (in thousands):

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Coupon interest

 

$

706

 

 

$

719

 

 

$

1,424

 

 

$

1,438

 

Amortization of debt discount

 

 

443

 

 

 

432

 

 

 

875

 

 

 

863

 

Amortization of transaction costs

 

 

29

 

 

 

34

 

 

 

62

 

 

 

67

 

Total interest expense

 

$

1,178

 

 

$

1,185

 

 

$

2,361

 

 

$

2,368

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of Carrying Value and Estimated Fair Value of Convertible Notes The following table presents the carrying value and estimated fair value of the Convertible Notes as of the date indicated (in thousands):

 

 

June 30, 2025

 

 

December 31, 2024

 

 

 

Carrying Value

 

 

Fair Value

 

 

Carrying Value

 

 

Fair Value

 

2027 Notes(1)

 

$

84,928

 

 

$

87,315

 

 

$

283,628

 

 

$

311,621

 

2030 Notes(1)

 

 

241,462

 

 

 

257,175

 

 

 

-

 

 

 

-

 

Total Convertible Notes

 

$

326,390

 

 

$

344,490

 

 

$

283,628

 

 

$

311,621

 

(1) As of June 30, 2025 and December 31, 2024, the fair value of the Convertible Notes, as applicable, was measured using Level 2 inputs based on the frequency of trading on our debt at the end of the period.
Schedule of Restructuring Related Employee Termination Benefits

The following table shows the total amount incurred and the liability, which was recorded in accrued expenses in the Condensed Consolidated Balance Sheets, for restructuring-related employee termination benefits as of December 31, 2024 and June 30, 2025 (in thousands):

 

 

Employee Termination Benefits

 

Accrued restructuring costs as of December 31, 2024

 

$

 

Restructuring costs incurred during the six months ended June 30, 2025

 

 

1,556

 

Amount paid during the period ended June 30, 2025

 

 

(763

)

Accrued restructuring costs as of June 30, 2025

 

$

793

 

 

Schedule of Total Restructuring Costs

The following table shows the total restructuring costs incurred during the three and six months ended June 30, 2025 and 2024 (in thousands):

 

 

Three Months Ended June 30,

 

 

For the Six Months Ended June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Sales and marketing

 

$

4

 

 

$

 

 

$

89

 

 

$

 

Operations and support

 

 

137

 

 

 

 

 

 

826

 

 

 

 

Product development

 

 

(35

)

 

 

 

 

 

499

 

 

 

 

General and administrative

 

 

(11

)

 

 

 

 

 

142

 

 

 

 

Total restructuring charges

 

$

95

 

 

 

 

 

$

1,556