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Debt (Tables)
6 Months Ended
Jun. 30, 2024
Debt Disclosure [Abstract]  
Schedule of Net Carrying Amount of Liability and Equity Component of Notes
The net carrying amount of the liability components of the Convertible Notes were as follows:
As of June 30,As of December 31,
20242023
2026 Convertible Notes:(In thousands)
Principal$35,000 $175,000 
Unamortized debt issuance costs(292)(1,891)
2026 Convertible Notes net carrying amount34,708 173,109 
2028 Convertible Notes:
Principal250,000 250,000 
Unamortized debt issuance costs(4,048)(4,583)
2028 Convertible Notes net carrying amount245,952 245,417 
Total net carrying amount$280,660 $418,526 
Schedule of Interest Income and Interest Expense Disclosure
The following table sets forth the interest expense recognized related to the Convertible Notes:
Three months ended June 30,Six months ended June 30,
2024202320242023
2026 Convertible Notes:(In thousands)
Contractual interest expense$88 $109 $197 $247 
Amortization of debt issuance costs116 210 333 506 
Total interest expense related to the 2026 Convertible Notes204 319 530 753 
2028 Convertible Notes:
Contractual interest expense313 313 626 626 
Amortization of debt issuance costs268 264 536 530 
Total interest expense related to the 2028 Convertible Notes581 577 1,162 1,156 
Total interest expense$785 $896 $1,692 $1,909 
Schedule of Capped Call Transactions
The following table sets forth key terms and costs incurred for the Capped Calls related to the Convertible Notes as of June 30, 2024:
2026 Convertible Notes2028 Convertible Notes
(In thousands, except share and per share amounts)
Initial approximate strike price per share, subject to certain adjustments$91.03 $179.27 
Initial cap price per share, subject to certain adjustments$137.40 $260.76 
Net costs incurred$43,320 $25,500 
Class A common stock covered, subject to anti-dilution adjustments384,500 1,394,525