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DEBT AND FINANCING ARRANGEMENTS (Tables) | 9 Months Ended
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Sep. 30, 2024
Debt Disclosure [Abstract] |
Schedule of Debt | Our debt consists of the following (in thousands):
| September 30, 2024 |  | December 31, 2023
Line of Credit | $ | — |  |  | $ | 30,000 |
2024 Convertible Senior Notes, net | 167,448 |  |  | — |
2020 Convertible Senior Notes, net | 45,789 |  |  | 227,504 |
Total debt | $ | 213,237 |  |  | $ | 257,504 |
Convertible Debt | The net carrying amount of the liability component of the 2024 Convertible Senior Notes is as follows (in thousands):
| September 30, 2024 |  |
Principal | $ | 172,500 |  |  |
Minus: |  |  |
Unamortized issuance costs | (5,052) |  |  |
Net carrying amount | $ | 167,448 |  |  |
Interest expense recognized related to the 2024 Convertible Senior Notes is as follows (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  |  |  | 2024 |  |
Contractual interest expense (due in cash) | $ | 1,833 |  |  |  |  | $ | 3,645 |  |  |
Amortization of debt issuance costs | 281 |  |  |  |  | 558 |  |  |
Total interest expense related to the 2024 Convertible Senior Notes | $ | 2,114 |  |  |  |  | $ | 4,203 |  |  |
Effective interest rate | 4.90 | % |  |  |  | 4.90 | % |  |
The net carrying amount of the liability component of the 2020 Convertible Senior Notes is as follows (in thousands):
| September 30, 2024 |  | December 31, 2023
Principal | $ | 46,070 |  |  | $ | 230,000 |
Minus: |  |  |
Unamortized issuance costs | (281) |  |  | (2,496) |
Net carrying amount of the liability component | $ | 45,789 |  |  | $ | 227,504 |
Interest expense recognized related to the 2020 Convertible Senior Notes is as follows (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Contractual interest expense (due in cash) | $ | 115 |  |  | $ | 575 |  |  | $ | 805 |  |  | $ | 1,725 |
Amortization of debt issuance costs | 73 |  |  | 365 |  |  | 511 |  |  | 1,096 |
Total interest expense related to the 2020 Convertible Senior Notes | $ | 188 |  |  | $ | 940 |  |  | $ | 1,316 |  |  | $ | 2,821 |
Effective interest rate | 1.64 | % |  | 1.64 | % |  | 1.64 | % |  | 1.64 | %

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- Definition Tabular disclosure of convertible debt instrument. Includes, but is not limited to, principal amount and amortized premium or discount. + References No definition available. + Details
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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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