Long-Term Debt

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Long-Term Debt

Long-Term Debt

Total convertible notes payable consisted of the following (in thousands):

	March 31, 2023		December 31, 2022
Current portion:
3.75% Convertible notes due 2023	$	—	$	325,000
Unamortized debt issuance costs	—		(119)
Total current convertible notes payable	$	—	$	324,881
Non-current portion:
5.00% Convertible notes due 2027	$	175,250	$	175,250
Unamortized debt issuance costs and discount	(8,393)		(8,784)
Total non-current convertible notes payable	$	166,857	$	166,466

During the three months ended March 31, 2023, the Company repaid the outstanding principal amount of $325.0 million on its 3.75% Convertible notes due in 2023, together with accrued but unpaid interest on the maturity date. The repayment was funded by the issuance of the 5.00% Convertible notes due 2027 and the concurrent common stock offering in December 2022, as well as cash on hand.

The interest expense incurred in connection with the Notes consisted of the following (in thousands):

	Three Months Ended March 31,
	2023		2022
Coupon interest	$	3,206	$	3,047
Amortization of debt issuance costs	510		356
Total interest expense on convertible notes payable	$	3,716	$	3,403