v3.26.1
Debt (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
Current and long term debt as of June 30, 2026 and December 31, 2025 consisted of the following:
June 30, 2026December 31, 2025
(in thousands)
Convertible Senior Notes$— $205,067 
Less: Unamortized debt issuance costs
— (252)
Net carrying value of Convertible Senior Notes
— 204,815 
2024 Term Loan B Facility
358,638 360,454 
Less: Unamortized debt discount and issuance costs
(8,238)(9,157)
Net carrying value of 2024 Term Loan B Facility
350,400 351,297 
Balance Sheet Presentation:
Debt, current, net of debt issuance costs
3,632 208,447 
Debt, non-current, net of debt discount and issuance costs
346,768 347,665 
Total debt
$350,400 $556,112 
Schedule of Maturities of Principle Amount of Long-Term Debt
Maturities of the principal amount of the Company's debt were as follows as of June 30, 2026 (in thousands):
Fiscal Year
Remaining 2026$1,816 
20273,632 
20283,632 
20293,632 
20303,632 
Thereafter342,294 
Total$358,638 
The estimated remaining amortization expense for the 2024 Term Loan B Facility debt discount and debt issuance costs was as follows as of June 30, 2026 (in thousands):
Fiscal YearDebt DiscountDebt Issuance Costs
Remaining 2026$427 $488 
2027847 968 
2028839 958 
2029830 948 
2030821 938 
Thereafter81 93 
Total$3,845 $4,393 
Schedule of Interest Expense and Interest Income
The following table sets forth interest expense related to the Convertible Senior Notes for the three and six months ended June 30, 2026 and 2025 (in thousands, except interest rates):
Three Months EndedSix Months Ended
June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Contractual interest expense$— $128 $107 $256 
Amortization of debt issuance costs— 294 252 587 
Total interest expense$— $422 $359 $843 
Effective interest rate— %0.82 %0.82 %0.82 %
The following table sets forth interest expense related to the 2024 Term Loan B Facility and the 2021 Term Loan B Facility (in thousands, except interest rates):
Three Months EndedSix Months Ended
June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Contractual interest expense$6,107 $6,722 $12,132 $13,952 
Amortization of debt discount214 216 429 472 
Amortization of debt issuance costs245 247 490 529 
Total interest expense$6,566 $7,185 $13,051 $14,953 
Effective interest rate7.30 %7.91 %7.25 %8.23 %
The following includes interest expense and interest income, as presented within interest expense, net in the condensed consolidated statement of operations (in thousands):
Three Months EndedSix Months Ended
June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Interest expense
$7,595 $7,801 $14,603 $16,221 
Interest income
(1,281)(2,730)(3,732)(5,973)
Interest expense, net
$6,314 $5,071 $10,871 $10,248 
Schedule of Debt
The following table summarizes the amount outstanding under the Company's 2024 Term Loan B Facility at June 30, 2026 and December 31, 2025:
June 30, 2026December 31, 2025
(in thousands)
2024 Term Loan B Facility
$358,638 $360,454 
Unamortized debt discount
(3,845)(4,275)
Unamortized debt issuance costs(4,393)(4,882)
2024 Term Loan B Facility, net of debt discount and issuance costs
$350,400 $351,297