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Debt (Tables)
9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
Schedule of Net Carrying Amount of Liability Components of Convertible Notes
The net carrying amount of the liability components of the Convertible Notes were as follows:
As of September 30,As of December 31,
20242023
2026 Convertible Notes:(In thousands)
Principal$35,000 $175,000 
Unamortized debt issuance costs(248)(1,891)
2026 Convertible Notes net carrying amount34,752 173,109 
2028 Convertible Notes:
Principal250,000 250,000 
Unamortized debt issuance costs(3,780)(4,583)
2028 Convertible Notes net carrying amount246,220 245,417 
Total net carrying amount$280,972 $418,526 
Schedule of Interest Expense Recognized Related to Convertible Notes
The following table sets forth the interest expense recognized related to the Convertible Notes:
Three months ended September 30,Nine months ended September 30,
2024202320242023
2026 Convertible Notes:(In thousands)
Contractual interest expense$22 $109 $219 $356 
Amortization of debt issuance costs44 217 377 723 
Total interest expense related to the 2026 Convertible Notes66 326 596 1,079 
2028 Convertible Notes:
Contractual interest expense313 313 939 939 
Amortization of debt issuance costs267 267 803 797 
Total interest expense related to the 2028 Convertible Notes580 580 1,742 1,736 
Total interest expense$646 $906 $2,338 $2,815 
Schedule of Costs Incurred for Capped Calls Related to Convertible Notes
The following table sets forth key terms and costs incurred for the Capped Calls related to the Convertible Notes as of September 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