Debt (Tables)

9 Months Ended

Sep. 30, 2023

Debt

Schedule of Debt

Our debt consists of the following:

	September 30,			December 31,
(In thousands)	2023			2022
2023 Notes	$	—		$	96,204
2025 Notes		192,500			192,500
2028 Notes		261,000			261,000
Total debt		453,500			549,704
Less: Unamortized debt discount and issuance costs		(7,782	)		(9,331	)
Total debt, net	$	445,718		$	540,373
Less: Current portion of long-term debt, net		—			96,193
Total long-term debt, net	$	445,718		$	444,180

Aggregate Scheduled Maturities of Convertible Debt

The aggregate scheduled maturities of our convertible debt as of September 30, 2023 were as follows:

(In thousands)	September 30, 2023
Years ending December 31:
Remainder of 2023	$	—
2024		—
2025		192,500
2026		—
2027		—
Thereafter		261,000
Total	$	453,500

2023 Notes

Debt

Schedule of Components of Interest Expense

The following table sets forth total interest expense recognized related to the 2023 Notes:

	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands)	2023		2022		2023		2022
Contractual interest expense	$	—	$	511	$	85	$	2,106
Amortization of debt issuance costs		—		59		11		240
Total interest and amortization expense	$	—	$	570	$	96	$	2,346

2025 Notes

Debt

Summary of Liability and Equity Components of Convertible Notes

Our outstanding 2025 Notes balances consisted of the following:

	September 30,			December 31,
(In thousands)	2023			2022
Principal	$	192,500		$	192,500
Debt discount and issuance costs, net		(1,385	)		(1,917	)
Net carrying amount	$	191,115		$	190,583

Schedule of Components of Interest Expense

The following table sets forth total interest expense recognized related to the 2025 Notes for the three and nine months ended September 30, 2023 and 2022:

	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands)	2023		2022		2023		2022
Contractual interest expense	$	1,203	$	1,203	$	3,609	$	3,609
Amortization of debt issuance costs		179		174		532		517
Total interest and amortization expense	$	1,382	$	1,377	$	4,141	$	4,126

2028 Notes

Debt

Summary of Liability and Equity Components of Convertible Notes

Our outstanding 2028 Notes balance consisted of the following:

	September 30,			December 31,
(In thousands)	2023			2022
Principal	$	261,000		$	261,000
Debt issuance costs, net		(6,397	)		(7,403	)
Net carrying amount	$	254,603		$	253,597

Schedule of Components of Interest Expense

The following table sets forth total interest expense recognized related to the 2028 Notes for the three and nine months ended September 30, 2023 and 2022:

	Three months ended September 30,				Nine months ended September 30,
(In thousands)	2023		2022		2023		2022
Contractual interest expense	$	1,387	$	1,371	$	4,160	$	3,127
Amortization of debt issuance costs		340		328		1,006		735
Total interest and amortization expense	$	1,727	$	1,699	$	5,166	$	3,862