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Debt (Tables) | 12 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Summary of Long-term Debt Instruments | Further details of the Notes are as follows:
Issuance |  | Maturity Date |  | Interest Rate |  | First Interest Payment Date |  | Effective Interest Rate |  | Semi-Annual Interest Payment Dates |  | Initial Conversion Rate per $1,000 Principal |  | Initial Conversion Price |  | Number of Shares (in millions)
2025 Notes |  | May 1, 2025 |  | 2.25% |  | November 1, 2020 |  | 2.88% |  | May 1 and November 1 |  | 16.3875 |  | $ | 61.02 |  |  | 0.8
2027 Notes |  | March 15, 2027 |  | 0.25% |  | September 15, 2021 |  | 0.67% |  | March 15 and September 15 |  | 9.6734 |  | $ | 103.38 |  |  | 5.8
2029 Notes |  | March 15, 2029 |  | 1.25% |  | March 15, 2024 |  | 1.69% |  | March 15 and September 15 |  | 15.4213 |  | $ | 64.85 |  |  | 4.6
Summary of Liability and Equity Components of Convertible Debt | The net carrying amount of the Notes as of December 31, 2024 and December 31, 2023 was as follows (in thousands):
|  | 2025 Notes |  | 2027 Notes |  | 2029 Notes
|  | Principal |  | Unamortized debt issuance costs |  | Total |  | Principal |  | Unamortized debt issuance costs |  | Total |  | Principal |  | Unamortized debt issuance costs |  | Total
Balance at December 31, 2023 |  | $ | 45,992 |  |  | $ | (404) |  |  | $ | 45,588 |  |  | $ | 600,000 |  |  | $ | (8,077) |  |  | $ | 591,923 |  |  | $ | 300,000 |  |  | $ | (7,515) |  |  | $ | 292,485 |
Amortization of debt issuance costs |  | — |  |  | 307 |  |  | 307 |  |  | — |  |  | 2,513 |  |  | 2,513 |  |  | — |  |  | 1,435 |  |  | 1,435 |
Balance at December 31, 2024 |  | $ | 45,992 |  |  | $ | (97) |  |  | $ | 45,895 |  |  | $ | 600,000 |  |  | $ | (5,564) |  |  | $ | 594,436 |  |  | $ | 300,000 |  |  | $ | (6,080) |  |  | $ | 293,920 |
Interest expense related to the Notes was as follows (in thousands):
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
| 2025 Notes |  | 2027 Notes |  | 2029 Notes |  | Total |  | 2025 Notes |  | 2027 Notes |  | 2029 Notes | Total |  |  | 2025 Notes |  | 2027 Notes |  | Total
Contractual interest expense | $ | 1,035 |  |  | $ | 1,500 |  |  | $ | 3,749 |  |  | $ | 6,284 |  |  | $ | 3,795 |  |  | $ | 1,500 |  |  | $ | 1,167 |  | $ | 6,462 |  |  |  | $ | 5,174 |  |  | $ | 1,502 |  |  | $ | 6,676 |
Amortization of debt issuance costs | 307 |  |  | 2,513 |  |  | 1,435 |  |  | 4,255 |  |  | 1,066 |  |  | 2,487 |  |  | 394 |  | 3,947 |  |  |  | 1,425 |  | 2,468 |  | 3,893
Induced conversion expense | — |  |  | — |  |  | — |  |  | — |  |  | 53,889 |  |  | — |  |  | — |  | 53,889 |  |  |  | — |  |  | — |  |  | — |
Total interest expense | $ | 1,342 |  |  | $ | 4,013 |  |  | $ | 5,184 |  |  | $ | 10,539 |  |  | $ | 58,750 |  |  | $ | 3,987 |  |  | $ | 1,561 |  | $ | 64,298 |  |  |  | $ | 6,599 |  |  | $ | 3,970 |  |  | $ | 10,569 |
Summary of Other Key Terms and Premiums Paid for the Capped Calls Related to Each Series of Notes | The following table sets forth other key terms and premiums paid for the Capped Calls related to each series of Notes:
|  | Capped Calls Entered into in Connection with the Issuance of the 2025 Notes |  | Capped Calls Entered into in Connection with the Issuance of the 2027 Notes |  | Capped Calls Entered into in Connection with the Issuance of the 2029 Notes
Initial strike price, subject to certain adjustments |  | $ | 61.02 |  |  | $ | 103.38 |  |  | $ | 64.85 |
Cap price, subject to certain adjustments |  | $ | 93.88 |  |  | $ | 159.04 |  |  | $ | 97.88 |
Total premium paid (in thousands) |  | $ | 27,255 |  |  | $ | 76,020 |  |  | $ | 36,570 |
Expiration dates |  | March 4, 2025 - April 29, 2025 |  | January 1, 2027 - March 11, 2027 |  | February 13, 2029 - March 13, 2029

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