| Schedule of Carrying Values and Estimated Fair Values of Debt Instruments |
The carrying amount and fair value of our Convertible Notes were as follows (in thousands). | | | | | | | | | | | | | | | | | March 31,
2026 | | December 31,
2025 | | Principal amount | | | | | | | | | | | 2027 Convertible Notes | | $ | 209,575 | | | $ | 209,575 | | | 2028 Convertible Notes | | 469,999 | | | 469,999 | | | 2031 Convertible Notes | | 750,000 | | | 750,000 | | | 2032 Convertible Notes | | 750,000 | | | 750,000 | | Total principal amount | | $ | 2,179,574 | | | $ | 2,179,574 | | | | | | | | Unamortized debt discount | | | | | | | | | | | 2027 Convertible Notes | | $ | (833) | | | $ | (1,058) | | | 2028 Convertible Notes | | (5,040) | | | (5,561) | | 2031 Convertible Notes | | (14,378) | | | (15,108) | | 2032 Convertible Notes | | (14,684) | | | (15,217) | | | Total unamortized debt discount | | $ | (34,935) | | | $ | (36,944) | | | | | | | | Carrying amount | | | | | | | | | | | 2027 Convertible Notes | | $ | 208,742 | | | $ | 208,517 | | | 2028 Convertible Notes | | 464,959 | | | 464,438 | | 2031 Convertible Notes | | 735,622 | | | 734,892 | | 2032 Convertible Notes | | 735,316 | | | 734,783 | | | Total carrying amount | | $ | 2,144,639 | | | $ | 2,142,630 | | | | | | | Fair value based on trading levels (Level 2) | | | | | | | | | | | 2027 Convertible Notes | | $ | 218,048 | | | $ | 229,736 | | | 2028 Convertible Notes | | 607,107 | | | 624,690 | | 2031 Convertible Notes | | 733,433 | | | 755,655 | | 2032 Convertible Notes | | 742,245 | | | 764,213 | | | Total fair value of outstanding notes | | $ | 2,300,833 | | | $ | 2,374,294 | | | | | | | | | | | | | | | | | | | | | | | | | | |
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| Schedule of Interest Income and Interest Expense Disclosure |
The following table summarizes the components of interest expense and the effective interest rates for each of our Convertible Notes (in thousands). | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | | | | March 31, | | | | | 2026 | | 2025 | | | | | | Coupon interest | | | | | | | | | | | | | | | | | | | 2027 Convertible Notes | | $ | 131 | | $ | 503 | | | | | | 2028 Convertible Notes | | 1,175 | | 1,800 | | | | | | 2032 Convertible Notes | | 1,641 | | — | | | | | | Total coupon interest | | $ | 2,947 | | $ | 2,303 | | | | | | | | | | | | | | | Amortization of debt discount | | | | | | | | | | | | | | | | | | | 2027 Convertible Notes | | $ | 226 | | $ | 862 | | | | | | 2028 Convertible Notes | | 521 | | 787 | | | | | | 2031 Convertible Notes | | 730 | | — | | | | | 2032 Convertible Notes | | 532 | | — | | | | | | Total amortization of debt discount | | $ | 2,009 | | $ | 1,649 | | | | | | | | | | | | | | | Interest expense | | | | | | | | | | | | | | | | | | | 2027 Convertible Notes | | $ | 357 | | $ | 1,365 | | | | | | 2028 Convertible Notes | | 1,696 | | 2,587 | | | | | 2031 Convertible Notes | | 730 | | — | | | | | 2032 Convertible Notes | | 2,173 | | — | | | | | | Total interest expense | | $ | 4,956 | | $ | 3,952 | | | | | | | | | | | | | | | Effective interest rates | | | | | | | | | | | | | | | | | | | 2027 Convertible Notes | | 0.7 | % | | 0.7 | % | | | | | | 2028 Convertible Notes | | 1.5 | % | | 1.5 | % | | | | | 2031 Convertible Notes | | 0.4 | % | | 0.4 | % | | | | | 2032 Convertible Notes | | 1.2 | % | | 1.2 | % | | | | |
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