v3.25.2
Borrowings (Tables)
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Principal and Unamortized Debt Issuance Costs and Other Material Features of Notes The table below summarizes the principal and unamortized debt issuance costs and other material features of the Notes (in thousands):
Carrying Amount as of
Conversion Rate per
$1,000 Principal
Conversion Price (1)
MaturitiesStated Interest RatesJune 30, 2025December 31, 2024
Convertible notes:
Principal – 2026 Notes
3.2392 $308.72 20260.0%$557,724 $1,245,232 
Principal – 2027 Notes
20.4526 $48.89 20272.0%1,000,000 1,000,000 
Principal – 2030 Notes
27.6656 $36.15 20300.0%690,000 — 
Unamortized debt issuance costs, net(14,469)(6,310)
Net carrying amount$2,233,255 $2,238,922 
1)    We entered into capped call transactions in connection with the 2026 and 2030 Notes. The cap price of the capped call transactions relating to the Notes was initially $343.02 and $47.74, respectively, subject to certain adjustments under the terms of the capped call transactions. See below "--Capped Call Transactions."