| Debt |
NOTE 8: DEBT The following table presents the Company's debt instruments outstanding: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | June 30, 2025 | | September 30, 2025 | | (in thousands) | | Gross Amount | | Deferred Financing Costs | | Carrying Amount | | Gross Amount | | Deferred Financing Costs | | Carrying Amount | | Gross Amount | | Deferred Financing Costs | | Carrying Amount | | | | | | | | | | | | | | | | | | | | | 2032 Senior Notes | | $ | 300,000 | | | $ | (6,527) | | | $ | 293,473 | | | $ | 300,000 | | | $ | (7,381) | | | $ | 292,619 | | | $ | 300,000 | | | $ | (7,182) | | | $ | 292,818 | | | 2029 Convertible Notes | | 230,000 | | | (3,979) | | | 226,021 | | | 230,000 | | | (5,018) | | | 224,982 | | | 230,000 | | | (4,742) | | | 225,258 | | | | | | | | | | | | | | | | | | | | | | Total | | $ | 530,000 | | | $ | (10,506) | | | $ | 519,494 | | | $ | 530,000 | | | $ | (12,399) | | | $ | 517,601 | | | $ | 530,000 | | | $ | (11,924) | | | $ | 518,076 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
The following table presents the Company’s interest expense related to its debt for the three and nine months ended June 30, 2026 and 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Nine Months Ended
June 30, | | (in thousands) | | 2026 | | 2025 | | 2026 | | 2025 | | | | | | | | | | | 2032 Senior Notes: | | | | | | | | | | Contractual interest expense | | $ | 5,531 | | | $ | 5,532 | | | $ | 16,594 | | | $ | 5,716 | | | Amortization of deferred financing costs | | 223 | | | 205 | | | 655 | | | 212 | | | Total interest expense | | $ | 5,754 | | | $ | 5,737 | | | $ | 17,249 | | | $ | 5,928 | | | | | | | | | | | | 2029 Convertible Notes: | | | | | | | | | | Contractual interest expense | | $ | 2,156 | | | $ | 2,156 | | | $ | 6,469 | | | $ | 6,469 | | | Amortization of deferred financing costs | | 270 | | | 260 | | | 764 | | | 726 | | | Total interest expense | | $ | 2,426 | | | $ | 2,416 | | | $ | 7,233 | | | $ | 7,195 | | | | | | | | | | | | 2025 Convertible Notes: | | | | | | | | | | Contractual interest expense | | $ | — | | | $ | 204 | | | $ | — | | | $ | 1,432 | | | Amortization of deferred financing costs | | — | | | 49 | | | — | | | 301 | | | Total interest expense | | $ | — | | | $ | 253 | | | $ | — | | | $ | 1,733 | |
As of June 30, 2026, the Company was in compliance with all covenants related to the 2032 Senior Notes. The reported sale price of our Class A Common Stock was greater than or equal to 130% of the applicable conversion price for the 2029 Convertible Notes for at least 20 trading days in the 30 consecutive trading days ended on June 30, 2026. As a result, the 2029 Convertible Notes are convertible at the option of the holders during the fiscal quarter ending September 30, 2026.
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