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Debt (Tables)

9 Months Ended

Sep. 30, 2024

Debt

Schedule of Debt

Our debt consists of the following:

		September 30,				December 31,
(In thousands)		2024				2023
2025 Notes		$	192,500			$	192,500
2028 Notes			261,000				261,000
Total debt			453,500				453,500
Less: Unamortized debt discount and issuance costs			(5,685	)			(7,266	)
Total debt, net			447,815				446,234
Less: Current portion of long-term debt, net			191,843				—
Total long-term debt, net		$	255,972			$	446,234

Aggregate Scheduled Maturities of Convertible Debt

The aggregate scheduled maturities of our convertible debt as of September 30, 2024 were as follows:

(In thousands)		September 30, 2024
Years ending December 31:
Remainder of 2024		$	—
2025			192,500
2026			—
2027			—
2028			261,000
Total		$	453,500

2025 Notes

Debt

Summary of Liability and Equity Components of Convertible Notes

Our outstanding 2025 Notes balances consisted of the following:

		September 30,				December 31,
(In thousands)		2024				2023
Principal		$	192,500			$	192,500
Debt discount and issuance costs, net			(657	)			(1,205	)
Net carrying amount		$	191,843			$	191,295

Schedule of Components of Interest Expense

The following table sets forth total interest expense recognized related to the 2025 Notes for the three and nine months ended September 30, 2024 and 2023:

		Three Months Ended September 30,								Nine Months Ended September 30,
(In thousands)		2024				2023				2024				2023
Contractual interest expense		$	1,203			$	1,203			$	3,609			$	3,609
Amortization of debt issuance costs			184				179				548				532
Total interest and amortization expense		$	1,387			$	1,382			$	4,157			$	4,141

2028 Notes

Debt

Summary of Liability and Equity Components of Convertible Notes

Our outstanding 2028 Notes balance consisted of the following:

		September 30,				December 31,
(In thousands)		2024				2023
Principal		$	261,000			$	261,000
Debt issuance costs, net			(5,028	)			(6,061	)
Net carrying amount		$	255,972			$	254,939

Schedule of Components of Interest Expense

The following table sets forth total interest expense recognized related to the 2028 Notes for the three and nine months ended September 30, 2024 and 2023:

		Three months ended September 30,								Nine months ended September 30,
(In thousands)		2024				2023				2024				2023
Contractual interest expense		$	1,387			$	1,387			$	4,160			$	4,160
Amortization of debt issuance costs			349				340				1,033				1,006
Total interest and amortization expense		$	1,736			$	1,727			$	5,193			$	5,166

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