v3.26.3
Debt (Tables)
9 Months Ended
Sep. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Outstanding Balances of Notes

The outstanding balances of the Notes consisted of the following (in thousands):

 

 

September 30, 2026

 

 

December 31, 2025

 

Principal

 

$

600,000

 

 

$

—

 

Unamortized debt discount and issuance costs

 

 

(13,066

)

 

 

—

 

Net carrying amount

 

$

586,934

 

 

$

—

 

Schedule of Interest Expense Recognized and Effective Interest Rates

The following table sets forth the total interest expense recognized and effective interest rates related to the Notes for the periods presented (in thousands):

 

 

Three Months Ended September 30

 

 

Nine Months Ended September 30

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Contractual interest expense

 

$

2,596

 

 

$

—

 

 

$

5,625

 

 

$

—

 

Amortization of debt discount and issuance costs

 

 

737

 

 

 

—

 

 

 

1,584

 

 

 

—

 

Total interest and amortization expense

 

$

3,333

 

 

$

—

 

 

$

7,209

 

 

$

—

 

Effective interest rate

 

 

2.2

%

 

 

—

 

 

 

2.2

%

 

 

—