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DEBT AND FINANCING ARRANGEMENTS (Tables) | 12 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Schedule of long-term debt instruments | Our debt consists of the following (in thousands):
| December 31,
| 2024 |  | 2023
Line of Credit | $ | — |  |  | $ | 30,000 |
2024 Convertible Senior Notes, net | 167,729 |  |  | $ | — |
2020 Convertible Senior Notes, net | 45,863 |  |  | $ | 227,504 |
Total debt | $ | 213,592 |  |  | $ | 257,504 |
Convertible Debt | The net carrying amount of the liability component of the 2024 Convertible Senior Notes is as follows (in thousands):
| December 31,
| 2024 |  |
Principal | $ | 172,500 |  |  |
Minus: |  |  |
Unamortized issuance costs | (4,771) |  |  |
Net carrying amount | $ | 167,729 |  |  |
Interest expense recognized related to the 2024 Convertible Senior Notes is as follows (in thousands):
| December 31,
| 2024 |  |
Contractual interest expense (due in cash) | $ | 5,478 |  |  |
Amortization of debt issuance costs | 838 |  |  |
Total interest expense related to the 2024 Convertible Senior Notes | $ | 6,316 |  |  |
Effective interest rate | 4.90 | % |  |
The net carrying amount of the liability component of the 2020 Convertible Senior Notes is as follows (in thousands):
| December 31,
| 2024 |  | 2023
Principal | $ | 46,070 |  |  | $ | 230,000 |
Minus: Unamortized issuance costs | (207) |  |  | (2,496) |
Net carrying amount of the liability component | $ | 45,863 |  |  | $ | 227,504 |
Interest expense recognized related to the 2020 Convertible Senior Notes is as follows (in thousands):
| December 31,
| 2024 |  | 2023
Contractual interest expense (due in cash) | $ | 921 |  |  | $ | 2,300 |
Amortization of debt issuance costs | 585 |  |  | 1,461 |
Total interest expense related to the 2020 Convertible Senior Notes | $ | 1,506 |  |  | $ | 3,761 |
Effective interest rate | 1.64 | % |  | 1.64 | %
Aggregate Future Payments of Principal Due Upon Maturity | Aggregate future payments of principal due upon maturity are as follows (in thousands):
Years Ending December 31, |  | Debt |  |
2025 |  | $ | 46,070 |  |  |
2026 |  | — |  |  |
2027 |  | — |  |  |
2028 |  | — |  |  |
Future periods |  | 172,500 |  |  |
Total debt |  | $ | 218,570 |  |  |

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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-8 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-6 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-7 + Details
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