XML 29 R16.htm IDEA: XBRL DOCUMENT v3.25.4
Debt
 3 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Debt
NOTE 8: DEBT
The following table presents the Company's debt instruments outstanding:
December 31, 2025December 31, 2024September 30, 2025
(in thousands)Gross AmountDeferred Financing CostsCarrying AmountGross AmountDeferred Financing CostsCarrying AmountGross AmountDeferred Financing CostsCarrying Amount
2032 Senior Notes$300,000 $(6,968)$293,032 $— $— $— $300,000 $(7,182)$292,818 
2029 Convertible Notes230,000 (4,477)225,523 230,000 (5,495)224,505 230,000 (4,742)225,258 
2025 Convertible Notes— — — 103,373 (168)103,205 — — — 
Total$530,000 $(11,445)$518,555 $333,373 $(5,663)$327,710 $530,000 $(11,924)$518,076 
Less current portion— — — 103,373 (168)103,205 — — — 
Total long-term debt$530,000 $(11,445)$518,555 $230,000 $(5,495)$224,505 $530,000 $(11,924)$518,076 
The following table presents the Company’s interest expense related to its debt for the three months ended December 31, 2025 and 2024:
Three Months Ended
December 31,
(in thousands)20252024
2032 Senior Notes:
Contractual interest expense$5,531 $— 
Amortization of deferred financing costs214 — 
Total interest expense$5,745 $— 
2029 Convertible Notes:
Contractual interest expense$2,156 $2,156 
Amortization of deferred financing costs265 249 
Total interest expense$2,421 $2,405 
2025 Convertible Notes:
Contractual interest expense$— $614 
Amortization of deferred financing costs— 133 
Total interest expense$— $747 
As of December 31, 2025, the Company was in compliance with all covenants related to the 2032 Senior Notes.
The reported sale price of our Class A Common Stock was greater than or equal to 130% of the applicable conversion price for the 2029 Convertible Notes for at least 20 trading days in the 30 consecutive trading days ended on December 31, 2025. As a result, the 2029 Convertible Notes are convertible at the option of the holders during the fiscal quarter ending March 31, 2026.