Debt (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Debt Disclosure [Abstract] |
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| Schedule of Long-Term Debt |
Debt, long-term consists of the following commitments as of June 30, 2025 and December 31, 2024 (in thousands): | | | | | | | | | | | | | | | | | As of | | | June 30, 2025 | | December 31, 2024 | | Convertible notes | | $ | — | | | $ | 567,164 | | | Term Loans | | 538,508 | | | 536,218 | | | | | | | | Debt, long-term | | $ | 538,508 | | | $ | 1,103,382 | |
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| Schedule of Carrying Value of Term Loan Balance |
The following table presents the carrying value of the Company’s Term Loans balance as of June 30, 2025 and December 31, 2024 (in thousands): | | | | | | | | | | | | | | | | | | | As of | | | June 30, 2025 | | December 31, 2024 | | | | Principal | | $ | 500,000 | | | $ | 500,000 | | | | | Paid-in-kind interest capitalized | | 46,770 | | | 46,770 | | | | | Debt discount, net | | (8,262) | | | (10,552) | | | | | Term Loans | | $ | 538,508 | | | $ | 536,218 | | | |
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| Schedule of Future Principal Repayments of Debt |
As of June 30, 2025, future principal repayments of debt for each of the years through maturity were as follows (in thousands): | | | | | | | Year Ending December 31: | | | 2025 | $ | — | | | 2026 | — | | | 2027 | — | | | 2028 | 341,731 | | | 2029 | 205,039 | | | 2030 and thereafter | — | | | | $ | 546,770 | |
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| Schedule of Interest Expense Related to Debt and Finance Leases |
Interest expense related to debt and finance leases for the three and six months ended June 30, 2025 and 2024 is as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2025 | | 2024 | | 2025 | | 2024 | | Convertible debt contractual interest expense | $ | 600 | | | $ | 2,062 | | | $ | 1,678 | | | $ | 4,125 | | | Term Loans contractual interest expense | 13,269 | | | 12,658 | | | 26,391 | | | 25,141 | | | Royalty Financing Agreement interest expense | 5,192 | | | 4,893 | | | 10,215 | | | 9,715 | | | Amortization of debt issuance costs | 1,676 | | | 1,800 | | | 3,498 | | | 3,651 | | | | | | | | | | | Swap interest income | — | | | (710) | | | — | | | (1,464) | | | Total debt interest expense | 20,737 | | | 20,703 | | | $ | 41,782 | | | $ | 41,168 | | | Finance lease interest expense | 508 | | | 564 | | | 1,032 | | | 1,141 | | | Total interest expense | $ | 21,245 | | | $ | 21,267 | | | $ | 42,814 | | | $ | 42,309 | |
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