v3.25.1
DEBT AND FINANCING ARRANGEMENTS (Tables)
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Debt
Our debt consists of the following (in thousands):
March 31, 2025December 31, 2024
2024 Convertible Senior Notes, net168,009 167,729 
2020 Convertible Senior Notes, net45,936 45,863 
Total debt$213,945 $213,592 
Convertible Debt
The net carrying amount of the liability component of the 2024 Convertible Senior Notes is as follows (in thousands):

March 31, 2025December 31, 2024
Principal$172,500 $172,500 
Minus:
Unamortized issuance costs(4,491)$(4,771)
Net carrying amount$168,009 $167,729 
Interest expense recognized related to the 2024 Convertible Senior Notes is as follows (in thousands):
Three Months Ended March 31,
2025
Contractual interest expense (due in cash)$1,833 
Amortization of debt issuance costs281 
Total interest expense related to the 2024 Convertible Senior Notes$2,114 
Effective interest rate4.90 %
The net carrying amount of the liability component of the 2020 Convertible Senior Notes is as follows (in thousands):

March 31, 2025December 31, 2024
Principal$46,070 $46,070 
Minus:
Unamortized issuance costs(134)(207)
Net carrying amount of the liability component$45,936 $45,863 

Interest expense recognized related to the 2020 Convertible Senior Notes is as follows (in thousands):
Three Months Ended
March 31,
20252024
Contractual interest expense (due in cash)$115 $575 
Amortization of debt issuance costs73 365 
Total interest expense related to the 2020 Convertible Senior Notes$188 $940 
Effective interest rate1.64 %1.64 %