v3.26.1
Long-Term Debt (Tables)
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Schedule of Net Carrying Amount of the Outstanding Long-Term Debt
The following table sets forth the net carrying amount of the Company’s long-term debt (in thousands):
Debt InstrumentMaturity DateMarch 31, 2026December 31, 2025
2030 Senior Notes
Aug 15, 2030$325,000 $350,000 
Term Loan under Credit Agreement (1)
Sep 11, 2030890,683 302,250 
Revolving Credit Facility under Credit Agreement (2)
Sep 11, 2030— — 
2026 Convertible Notes (3)
Mar 15, 2026— 609,065 
Total principal amount1,215,683 1,261,315 
Less: unamortized debt discount and issuance costs on long-term debt(10,036)(7,519)
Less: current portion of long-term debt, net (4)
(46,269)(624,216)
Net carrying amount of long-term debt$1,159,378 $629,580 
(1)The Company has $50.0 million available for drawdown under the Term Loan as of March 31, 2026.
(2)The Company has $305.0 million available for borrowing under the Revolving Credit Facility as of March 31, 2026.
(3)The Company settled the remaining $609.1 million principal of the 2026 Convertible Notes in cash on the original maturity date in March 2026.
(4)As of March 31, 2026, the current portion of long-term debt, net, consists of the $46.3 million in expected principal payments due on the Term Loan. The Term Loan requires quarterly principal payments of approximately 1.27% of the refinanced $910.0 million principal amount drawn, with balance due at maturity.
Schedule of Future Minimum Principal Payments of the Term Facility
The following table sets forth the future minimum principal payments for long-term debt as of March 31, 2026 (in thousands):
Term Loan2030 Senior NotesTotal
2026 remaining$34,703 $— $34,703 
202746,269 — 46,269 
202846,269 — 46,269 
202946,269 — 46,269 
2030 onwards717,173 325,000 1,042,173 
Total principal amount$890,683 $325,000 $1,215,683 
Schedule of Interest Expense on Long-Term Debt
The following table sets forth the interest expense recognized related to long-term debt (in thousands):
Three Months Ended
March 31,
20262025
Contractual interest expense$13,124 $14,338 
Amortization of debt discount and issuance costs976 1,131 
Total interest expense related to long-term debt$14,100 $15,469