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Debt (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Liability Components of the Convertible Notes
The Company's debt consists of the following:
As of December 31,
(in thousands)20242023
Senior Secured Term Loan due 2029:
Principal$400,000 $400,000 
Less: debt discount (1)
(7,863)(9,652)
Less: deferred financing (1)
(2,026)(2,490)
Net carrying value of long-term debt$390,111 $387,858 
_____________________________
(1) Included in the Consolidated Balance Sheets within long-term debt and amortized to interest expense over the remaining life of the corresponding Senior Secured Term Loan using the effective interest rate method.
Schedule of Components of Total Interest Expense
The following table sets forth interest expense recognized related to the Company's debt for the years ended December 31, 2024 and 2023, respectively:
December 31,
(in thousands, except interest rate amounts)20242023
Contractual interest expense$47,373 $47,626 
Amortization of debt discount$1,790 $1,605 
Amortization of deferred financing$472 $1,011 
Effective interest rate of the liability component, Senior Secured Term Loan due 202912.0 %12.8 %