v3.26.3
Long-term Debt (Tables)
9 Months Ended
Sep. 30, 2026
Debt Disclosure [Abstract]  
Summary of Outstanding Principal Amount and Carrying Value

The following table presents the outstanding principal amount and carrying value of the Notes as of the dates indicated (in thousands):

 

September 30, 2026

 

 

December 31, 2025

 

 

Principal Amount

 

 

Unamortized debt issuance costs

 

 

Net Carrying Amount

 

 

Principal Amount

 

 

Unamortized debt issuance costs

 

 

Net Carrying Amount

 

2021 Notes

$

999

 

 

$

(4

)

 

$

995

 

 

$

97,498

 

 

$

(753

)

 

$

96,745

 

2025 Notes

 

190,000

 

 

 

(4,689

)

 

 

185,311

 

 

 

190,000

 

 

 

(5,859

)

 

 

184,141

 

Total Debt

$

190,999

 

 

$

(4,693

)

 

$

186,306

 

 

$

287,498

 

 

$

(6,612

)

 

$

280,886

 

Short-term Debt

 

999

 

 

 

(4

)

 

 

995

 

 

 

97,498

 

 

 

(753

)

 

 

96,745

 

Long-term Debt

$

190,000

 

 

$

(4,689

)

 

$

185,311

 

 

$

190,000

 

 

$

(5,859

)

 

$

184,141

 

Schedule of Notes

Further details of the Notes are as follows:

Issuance

 

Maturity Date

 

Interest Rate

 

First Interest Payment Date

 

Effective Interest Rate

 

Semi-Annual Interest Payment Dates

 

Initial Conversion Rate per $1,000 Principal

 

Initial Conversion Price

 

 

Number of Shares (in millions)

2021 Notes

 

May 15, 2027

 

1.125%

 

May 15, 2022

 

1.72%

 

May 15; November 15

 

9.0061

 

$

111.04

 

 

0.009

2025 Notes

 

September 15, 2029

 

0%

 

N/A

 

0.84%

 

N/A

 

3.7398

 

$

267.39

 

 

0.7

Schedule of Interest Expense

Interest expense related to the Notes was as follows (in thousands):

 

Three Months Ended September 30, 2026

 

 

Three Months Ended September 30, 2025

 

 

2025 Notes

 

 

2021 Notes

 

 

2025 Notes

 

 

2021 Notes

 

Amortization of debt issuance costs

$

391

 

 

$

68

 

 

$

95

 

 

$

348

 

Cash interest expense

 

—

 

 

 

137

 

 

 

—

 

 

 

678

 

Total interest expense

$

391

 

 

$

205

 

 

$

95

 

 

$

1,026

 

 

 

Nine Months Ended September 30, 2026

 

 

Nine Months Ended September 30, 2025

 

 

2025 Notes

 

 

2021 Notes

 

 

2025 Notes

 

 

2021 Notes

 

Amortization of debt issuance costs

$

1,170

 

 

$

275

 

 

$

95

 

 

$

1,178

 

Cash interest expense

 

—

 

 

 

555

 

 

 

—

 

 

 

2,296

 

Total interest expense

$

1,170

 

 

$

830

 

 

$

95

 

 

$

3,474