v3.26.1
Convertible Notes (Tables)
6 Months Ended
Jun. 30, 2026
Convertible Notes [Abstract]  
Schedule of Key Terms of Convertible Notes

Key terms of the Convertible Notes are as follows:

    2029 Notes   2030 Notes   2031 Notes
Principal outstanding   $ 18,103     $ 475,000     $ 603,750  
Issuance date     August 13, 2024       August 14, 2025       March 30, 2026  
Maturity date (unless earlier converted, repurchased or redeemed)     August 15, 2029       August 15, 2030      

October 1, 2031

 
Interest rate     3.25%       4.625%       4.50%  
Initial conversion price   $ 11.82     $ 19.15     $ 21.58  
Initial conversion rate     84.5934       52.2071       46.3306  
Redemption price   $ 15.37     $ 24.90     $ 28.06  
Schedule of Convertible Notes

The following table provides a summary of the Convertible Notes at June 30, 2026 and December 31, 2025:

    June 30, 2026   December 31, 2025
   

2029

Notes

 

2030

Notes

 

2031

Notes

  Total  

2026

Notes

 

2029

Notes

 

2030

Notes

  Total
Principal amount   $ 18,103     $ 475,000     $ 603,750     $ 1,096,853     $ 150,000     $ 345,000     $ 475,000     $ 970,000  
Less: Unamortized issuance costs     (252 )     (9,135 )     (12,015 )     (21,402 )     (396 )     (5,566 )     (10,231 )     (16,193 )
Carrying amount   $ 17,851     $ 465,865     $ 591,735     $ 1,075,451     $ 149,604     $ 339,434     $ 464,769     $ 953,807  
Effective interest rate(1)     3.70 %     5.10 %     4.88 %     4.96 %     3.83 %     3.70 %     5.10 %     4.40 %

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(1) Includes amortization of the issuance costs and premium.