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FINANCING ARRANGEMENTS (Tables)
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Notes
The carrying amount of the 2027 Notes consisted of the following as of March 31, 2025 and December 31, 2024 (in thousands):

March 31, 2025
December 31, 2024
Fair value of principal recorded at issuance (1)
$196,210 $196,210 
Less: debt discount
(3,159)(3,483)
Total $193,051 $192,727 
(1) The principal of the 2027 Notes was recorded at fair value of $196.2 million, which is equal to the exchanged principal of $176.3 million and cash consideration received of $19.9 million.
The carrying amount of the 2026 Notes consisted of the following as of March 31, 2025 and December 31, 2024 (in thousands):
March 31, 2025December 31, 2024
Principal amount$53,740 $53,740 
Less: debt discount(361)(454)
Net carrying amount of liability component
$53,379 $53,286 
Schedule of Interest Costs on Notes
During the three months ended March 31, 2025, we recognized interest costs on the 2027 Notes as follows (in thousands):

Three Months Ended March 31, 2025
Contractual interest
$3,082 
Amortization of debt discount
372 
Total $3,454 
During the three months ended March 31, 2025 and 2024, we recognized interest costs on the 2026 Notes as follows (in thousands):
Three Months Ended March 31,
20252024
Contractual interest$151 $730 
Amortization of debt discount93 391 
Total $244 $1,121