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v3.25.2

Debt (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
Debt |
Schedule of Debt | Our debt consists of the following:
|  | June 30, |  |  | December 31, |
(In thousands) |  | 2025 |  |  | 2024 |
2025 Notes |  | $ | 192,000 |  |  | $ | 192,500 |
2028 Notes |  |  | 261,000 |  |  |  | 261,000 |
Total debt |  |  | 453,000 |  |  |  | 453,500 |
Less: Unamortized debt discount and issuance costs |  |  | (4,078 | ) |  |  | (5,156 | )
Total debt, net |  |  | 448,922 |  |  |  | 448,344 |
Less: Current portion of long-term debt, net |  |  | (191,903 | ) |  |  | (192,028 | )
Total long-term debt, net |  | $ | 257,019 |  |  | $ | 256,316 |
Aggregate Scheduled Maturities of Convertible Debt | The aggregate scheduled maturities of our convertible debt as of June 30, 2025 were as follows:
(In thousands) |  | Amount |
Years ending December 31: |  |  |
Remainder of 2025 |  | $ | 192,000 |
2026 |  |  | — |
2027 |  |  | — |
2028 |  |  | 261,000 |
Total |  | $ | 453,000 |
2025 Notes |
Debt |
Summary of Liability and Equity Components of Convertible Notes | Our outstanding 2025 Notes balances consisted of the following:
|  | June 30, |  |  | December 31, |
(In thousands) |  | 2025 |  |  | 2024 |
Principal |  | $ | 192,000 |  |  | $ | 192,500 |
Debt discount and issuance costs, net |  |  | (97 | ) |  |  | (472 | )
Net carrying amount |  | $ | 191,903 |  |  | $ | 192,028 |
Schedule of Components of Interest Expense | The following table sets forth total interest expense recognized related to the 2025 Notes for the three and six months ended June 30, 2025 and 2024:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
(In thousands) |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Contractual interest expense |  | $ | 1,199 |  |  | $ | 1,203 |  |  | $ | 2,402 |  |  | $ | 2,406 |
Amortization of debt issuance costs |  |  | 188 |  |  |  | 183 |  |  |  | 375 |  |  |  | 364 |
Total interest and amortization expense |  | $ | 1,387 |  |  | $ | 1,386 |  |  | $ | 2,777 |  |  | $ | 2,770 |
2028 Notes |
Debt |
Summary of Liability and Equity Components of Convertible Notes | Our outstanding 2028 Notes balance consisted of the following:
|  | June 30, |  |  | December 31, |
(In thousands) |  | 2025 |  |  | 2024 |
Principal |  | $ | 261,000 |  |  | $ | 261,000 |
Debt issuance costs, net |  |  | (3,981 | ) |  |  | (4,684 | )
Net carrying amount |  | $ | 257,019 |  |  | $ | 256,316 |
Schedule of Components of Interest Expense | The following table sets forth total interest expense recognized related to the 2028 Notes for the three and six months ended June 30, 2025 and 2024:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
(In thousands) |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Contractual interest expense |  | $ | 1,387 |  |  | $ | 1,387 |  |  | $ | 2,773 |  |  | $ | 2,773 |
Amortization of debt issuance costs |  |  | 349 |  |  |  | 339 |  |  |  | 703 |  |  |  | 684 |
Total interest and amortization expense |  | $ | 1,736 |  |  | $ | 1,726 |  |  | $ | 3,476 |  |  | $ | 3,457 |

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