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Debt (Tables)
 12 Months Ended
Dec. 31, 2019
Debt Disclosure [Abstract]  
Schedule of Liability Components of the Convertible Notes
The Convertible Notes and Senior Secured Term Loan consist of the following:
 
 
As of December 31,
(in thousands)
 
2019
 
2018
Principal
 
$
152,825

 
$
400,000

Less: debt discount (1)
 
(2,974
)
 
(74,145
)
Less: deferred financing (1)
 
(346
)
 
(4,115
)
Net carrying value of the debt
 
$
149,505

 
$
321,740

______________________________
(1) 
Included in the Consolidated Balance Sheets within Convertible Notes and Senior Secured Term Loan and amortized to interest expense over the remaining life of the Convertible Notes and Senior Secured Term Loan using the effective interest rate method.
Components of Total Interest Expense Recognized Related to the Convertible Notes
The following table sets forth interest expense recognized related to the Convertible Notes and Senior Secured Term Loan for the years ended December 31, 2019 and 2018 respectively:
(in thousands)
 
2019
 
2018
Contractual interest expense
 
$
16,483

 
$
11,426

Amortization of debt discount
 
$
2,381

 
$
10,421

Amortization of deferred financing
 
$
165

 
$
555

Effective interest rate of the liability component, Convertible debt
 
10.63
%
 
10.85
%
Effective interest rate of the liability component, Senior Secured Term Loan
 
10.16
%
 
10.48
%