v3.26.1
DEBT
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
DEBT DEBT
The following tables summarize the Company’s debt balances (in thousands):
March 31, 2026December 31, 2025
2019 Notes (1)
$— $229,640 
 
  
Current Portion
$— $229,640 
(1)As of March 31, 2026 and December 31, 2025, amount is net of discount and debt issuance costs of nil and $0.4 million, respectively.
Convertible debt
2019 Notes
During the three months ended March 31, 2026, following the issuance by the Company of a notice of redemption on February 18, 2026 to the holders of the 2019 Notes, the majority of all such holders exercised their conversion rights and elected to convert their holdings to common shares. The conversion occurred pursuant to the terms of the 2019 Notes agreement whereby the holders had the option to convert the 2019 Notes to common shares at any time prior to maturity on April 1, 2039. An aggregate principal amount of $229.8 million was converted to 13.1 million shares during the three months ended March 31, 2026. Upon the conversion, the Company paid cash in lieu of fractional shares and interest of $2.6 million. On March 20, 2026, the Company redeemed the remaining unconverted principal amount of the 2019 Notes for $0.2 million in cash. The Company redemption was pursuant to the terms of the 2019 Notes agreement, which permitted the redemption of the 2019 Notes when the Company’s share price exceeded 130.0% of the conversion price for 20 or more days in a period of 30 consecutive trading days. As of March 31, 2026, the Company has been discharged of all debt obligations associated with the 2019 Notes.