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Convertible Notes (Tables) | 6 Months Ended
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Jun. 30, 2025
Debt Disclosure [Abstract] |
Convertible Debt | The following table summarizes key details of the 2026 Notes and 2030 Notes:
Senior Convertible Notes | Offering Completion Date |  | Stated Interest Rate |  | Aggregate Principal Amount Issued (in millions) |  | Aggregate Principal Amount Outstanding (in millions) |  | Maturity Date |  | Net Proceeds (1) (in millions) |  | Initial Conversion Rate (shares) (2) (per $1,000 principal amount) |  | Initial Conversion Price (per share) (3) |  | Settlement Methods (4)
2026 Notes | May 2021 |  | 2.50% |  | $225.5 |  | $40.2 |  | May 15, 2026 |  | $219.8 |  | 95.5338 |  | $10.47 |  | Cash and/or shares
2030 Notes | March 2025 |  | 2.00% |  | $225.0 |  | $225.0 |  | March 15, 2030 |  | $220.5 |  | 54.9058 |  | $18.21 |  | Cash and/or shares
(1)Net proceeds are calculated by deducting debt issuance costs directly related to the transaction from the aggregate principal amount of the applicable series of notes. (2)Subject to adjustments as defined in the applicable indentures. (3)In connection with the 2026 Notes, we entered into capped call options. The cap price of the capped call options was initially $15.80 per share, subject to certain adjustments under the terms of the capped call options. (4)The 2026 Notes and 2030 Notes may be settled in cash, shares of our common stock, or a combination thereof, solely at our election.
Summary of Interest Expenses Related to Convertible Notes | The following table presents the components of interest expense related to our Convertible Notes (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Stated coupon interest | $ | 1,376 |  |  | $ | 1,409 |  |  | $ | 2,780 |  |  | $ | 2,818 |
Amortization of debt issuance cost | 265 |  |  | 289 |  |  | $ | 553 |  |  | $ | 575 |
Total interest expense | $ | 1,641 |  |  | $ | 1,698 |  |  | $ | 3,333 |  |  | $ | 3,393 |

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