| Schedule of Long-term Debt Obligations |
The Company’s current and non-current portions of long-term debt were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2026 | | December 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 | | | (14,530) | | | 848,263 | | | 862,793 | | | (17,492) | | | | | 845,301 | | Samarium Project Loan | 150,000 | | | (62,010) | | | 87,990 | | | 150,000 | | | (63,971) | | | | | 86,029 | | Total long-term debt | $ | 1,012,793 | | | $ | (76,540) | | | 936,253 | | | $ | 1,080,292 | | | $ | (81,551) | | | | | 998,741 | | Less: Current portion | | | | | — | | | | | | | | | (67,411) | | Total long-term debt, net of current portion | | | | | $ | 936,253 | | | | | | | | | $ | 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: | | | | | | | | | | | | | September 30, 2026 | | December 31, 2025 | | (in thousands) | | | Equipment notes | | | | | Current | $ | 5,479 | | | $ | 3,904 | | | Non-current | 24,861 | | | 20,366 | | | $ | 30,340 | | | $ | 24,270 | |
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| Schedule of Interest Expense, Net |
Interest expense, net was as follows: | | | | | | | | | | | | | | | | | | | | | | | | | For the three months ended September 30, | | For the nine months ended September 30, | | (in thousands) | 2026 | | 2025 | | 2026 | | 2025 | | Interest cost on Convertible Notes: | | | | | | | | | Coupon interest | $ | 6,471 | | | $ | 6,513 | | | $ | 19,455 | | | $ | 19,539 | | | Amortization of debt issuance costs | 997 | | | 1,050 | | | 3,051 | | | 3,124 | | Total Convertible Notes interest cost | 7,468 | | | 7,563 | | | 22,506 | | | 22,663 | | Interest cost on Samarium Project Loan: | | | | | | | | | Coupon interest | 2,017 | | | 1,345 | | | 6,052 | | | 1,345 | | Amortization of debt discount and issuance costs | 674 | | | 399 | | | 1,961 | | | 399 | | Total Samarium Project Loan interest cost | 2,691 | | | 1,744 | | | 8,013 | | | 1,744 | | Other interest cost(1) | 2,531 | | | 786 | | | 7,142 | | | 1,302 | | Interest capitalized to property, plant and equipment, net | (3,281) | | | (1,527) | | | (8,703) | | | (4,114) | | Interest expense, net | $ | 9,409 | | | $ | 8,566 | | | $ | 28,958 | | | $ | 21,595 | |
(1)Amounts primarily relate to a significant financing component associated with a long-term customer supply agreement.
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