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v3.23.1

Debt (Tables) | 3 Months Ended
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Mar. 31, 2023
Debt |
Schedule of Debt | Our debt consists of the following:
|  | March 31, |  |  | December 31, |
(In thousands) |  | 2023 |  |  | 2022 |
2023 Notes |  | $ | — |  |  | $ | 96,204 |
2025 Notes |  |  | 192,500 |  |  |  | 192,500 |
2028 Notes |  |  | 261,000 |  |  |  | 261,000 |
Total debt |  |  | 453,500 |  |  |  | 549,704 |
Less: Unamortized debt discount and issuance costs |  |  | (8,808 | ) |  |  | (9,331 | )
Total debt, net |  | $ | 444,692 |  |  | $ | 540,373 |
Less: Current portion of long-term debt, net |  |  | — |  |  |  | 96,193 |
Total long-term debt, net |  | $ | 444,692 |  |  | $ | 444,180 |
Aggregate Scheduled Maturities of Convertible Debt | The aggregate scheduled maturities of our convertible debt as of March 31, 2023 were as follows:
(In thousands) |  | March 31, 2023 |
Years ending December 31: |  |  |
Remainder of 2023 |  | $ | — |
2024 |  |  | — |
2025 |  |  | 192,500 |
2026 |  |  | — |
2027 |  |  | — |
Thereafter |  |  | 261,000 |
Total |  | $ | 453,500 |
2023 Notes |
Debt |
Schedule of Components of Interest Expense | The following table sets forth total interest expense recognized related to the 2023 Notes:
|  | Three Months Ended March 31, |
(In thousands) |  | 2023 |  |  | 2022 |
Contractual interest expense |  | $ | 85 |  |  | $ | 1,084 |
Amortization of debt issuance costs |  |  | 11 |  |  |  | 122 |
Total interest and amortization expense |  | $ | 96 |  |  | $ | 1,206 |
2025 Notes |
Debt |
Summary of Liability and Equity Components of Convertible Notes | Our outstanding 2025 Notes balances consisted of the following:
|  | March 31, |  |  | December 31, |
(In thousands) |  | 2023 |  |  | 2022 |
Principal |  | $ | 192,500 |  |  | $ | 192,500 |
Debt discount and issuance costs, net |  |  | (1,741 | ) |  |  | (1,917 | )
Net carrying amount |  | $ | 190,759 |  |  | $ | 190,583 |
Schedule of Components of Interest Expense | The following table sets forth total interest expense recognized related to the 2025 Notes for the three months ended March 31, 2023 and 2022:
|  | Three Months Ended March 31, |
(In thousands) |  | 2023 |  |  | 2022 |
Contractual interest expense |  | $ | 1,203 |  |  | $ | 1,203 |
Amortization of debt issuance costs |  |  | 176 |  |  |  | 171 |
Total interest and amortization expense |  | $ | 1,379 |  |  | $ | 1,374 |
2028 Notes |
Debt |
Summary of Liability and Equity Components of Convertible Notes | Our outstanding 2028 Notes balance consisted of the following:
|  | March 31, |  |  | December 31, |
(In thousands) |  | 2023 |  |  | 2022 |
Principal |  | $ | 261,000 |  |  | $ | 261,000 |
Debt issuance costs, net |  |  | (7,067 | ) |  |  | (7,403 | )
Net carrying amount |  | $ | 253,933 |  |  | $ | 253,597 |
Schedule of Components of Interest Expense | The following table sets forth total interest expense recognized related to the 2028 Notes:
|  | Three Months Ended March 31, |
(In thousands) |  | 2023 |  |  | 2022 |
Contractual interest expense |  | $ | 1,387 |  |  | $ | 346 |
Amortization of debt issuance costs |  |  | 335 |  |  |  | 84 |
Total interest and amortization expense |  | $ | 1,722 |  |  | $ | 430 |

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