v3.26.1
DEBT OBLIGATIONS (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Obligations
The Company’s current and non-current portions of long-term debt were as follows:
June 30, 2026December 31, 2025
(in thousands)
Principal Amount
Unamortized Debt Discount and Issuance Costs
Carrying Amount
Principal Amount
Unamortized Debt Discount and Issuance Costs
Carrying Amount
Convertible Notes due 2026$— $— $— $67,499 $(88)$67,411 
Convertible Notes due 2030
862,793 (15,526)847,267 862,793 (17,492)845,301 
Samarium Project Loan
150,000 (62,684)87,316 150,000 (63,971)86,029 
Total long-term debt
$1,012,793 $(78,210)934,583 $1,080,292 $(81,551)998,741 
Less: Current portion
— (67,411)
Total long-term debt, net of current portion
$934,583 $931,330 
The current and non-current portions of the equipment notes, which are included within the unaudited Condensed Consolidated Balance Sheets in “Other current liabilities” and “Other non-current liabilities,” respectively, were as follows:
June 30, 2026December 31, 2025
(in thousands)
Equipment notes
Current$5,135 $3,904 
Non-current23,964 20,366 
$29,099 $24,270 
Schedule of Interest Expense, Net
Interest expense, net was as follows:
For the three months ended June 30,For the six months ended June 30,
(in thousands)2026202520262025
Interest cost on Convertible Notes:
Coupon interest$6,471 $6,513 $12,984 $13,026 
Amortization of debt issuance costs987 1,041 2,054 2,074 
Total Convertible Notes interest cost
7,458 7,554 15,038 15,100 
Interest cost on Samarium Project Loan:
Coupon interest2,017 — 4,035 — 
Amortization of debt discount and issuance costs
654 — 1,287 — 
Total Samarium Project Loan interest cost
2,671 — 5,322 — 
Other interest cost
2,507 362 4,611 516 
Interest capitalized to property, plant and equipment, net
(2,933)(2,502)(5,422)(2,587)
Interest expense, net
$9,703 $5,414 $19,549 $13,029