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CONVERTIBLE NOTES AND OTHER DEBTS (Tables) | 12 Months Ended
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Dec. 31, 2021
Debt Disclosure [Abstract] |
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments | The following table presents the components of the 2022 Notes:
| As of December 31,
(in thousands, except for years and percentages) | 2021 |  | 2020
Liability: |  |  |
Principal amount | $ | 37,707 |  |  | $ | 37,707 |
Less: Debt discount, net of amortization | (672) |  |  | (1,357) |
Less: Debt issuance costs, net of amortization | (211) |  |  | (425) |
Carrying amount | $ | 36,824 |  |  | $ | 35,925 |
Remaining amortization period (years) | 0.9 |  | 1.9
Effective interest rate on liability component | 6.95 | % |  | 6.95 | %
The following table presents the components of the 2024 Notes:
| As of December 31,
(in thousands, except for years and percentages) | 2021 |  | 2020
Liability: |  |  |
Principal amount | $ | 115,500 |  |  | $ | 115,500 |
Less: Debt discount, net of amortization | (14,576) |  |  | (19,294) |
Less: Debt issuance costs, net of amortization | (1,983) |  |  | (2,624) |
Carrying amount | $ | 98,941 |  |  | $ | 93,582 |
Remaining amortization period (years) | 2.7 |  | 3.7
Effective interest rate on liability component | 7.95 | % |  | 7.95 | %
Schedule of Convertible Interest Expense Recognized | The following table presents interest expense recognized for the 2022 Notes:
(in thousands) | Year ended December 31,
| 2021 |  | 2020
Contractual interest expense | $ | 1,648 |  |  | $ | 953 |
Amortization of debt discount | 685 |  |  | 373 |
Amortization of debt issuance costs | 214 |  |  | 117 |
Total interest expense recognized | $ | 2,547 |  |  | $ | 1,443 |
The following table presents interest expense recognized for the 2024 Notes:
| Year ended December 31,
(in thousands) | 2021 |  | 2020 |  |
Contractual interest expense | $ | 2,312 |  |  | $ | 2,310 |  |  |
Amortization of debt discount | 4,718 |  |  | 4,358 |  |  |
Amortization of debt issuance costs | 641 |  |  | 595 |  |  |
Total interest expense recognized | $ | 7,671 |  |  | $ | 7,263 |  |  |
The following table presents interest expense recognized for the 2020 Notes:
| Year ended December 31,
(in thousands) | 2021 |  | 2020 |  | 2019
Contractual interest expense | $ | — |  |  | $ | 936 |  |  | $ | 4,148 |
Amortization of debt discount | — |  |  | 1,158 |  |  | 4,787 |
Amortization of debt issuance costs | — |  |  | 138 |  |  | 577 |
Total interest expense recognized | $ | — |  |  | $ | 2,232 |  |  | $ | 9,512 |
Schedule of Debt | The Company has a variety of debt and credit facilities primarily in France to satisfy the financing requirements of the operations of its French subsidiary. These arrangements are summarized in the table below:
| December 31,
(in thousands) | 2021 |  | 2020
Financing from French government agencies related to various government incentive programs (1) | $ | 12,259 |  |  | $ | 14,974 |
Relief loans (2) | 5,651 |  |  | 6,694 |
Term loans | 71 |  |  | 167 |
Obligations under finance leases | — |  |  | 22 |
Total debt obligations | 17,981 |  |  | 21,857 |
Less: current portion | (4,992) |  |  | (11,771) |
Long-term portion | $ | 12,989 |  |  | $ | 10,086 |
(1) These loans bear variable interest rate at EURIBOR 1 month plus 1.9% and mature between 2022 through 2025. (2) Refer to the below section “Relief Loans” for the description of these loans.
Schedule of Maturities of Long-term Debt | The table below presents the future minimum repayments of other debts as of December 31, 2021 (in thousands):
Year ending December 31, |  |  |
2022 |  |  | $ | 4,992 |
2023 |  |  | 4,957 |
2024 |  |  | 5,036 |
2025 |  |  | 1,577 |
2026 |  |  | 1,419 |
Total |  |  | $ | 17,981 |

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