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Debt (Tables)
 9 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]  
Schedule of Liability Components of Long-Term Debt
The Company's debt consists of the following:
(in thousands)September 30, 2021December 31, 2020
Senior Secured Term Loan due 2026:
Principal$400,000 $400,000 
Less: debt discount (1)
(6,438)(7,434)
Less: deferred financing (1)
(4,843)(5,592)
Net carrying value of the Senior Secured Term Loan$388,719 $386,974 
Convertible Notes due 2023:
Principal$— $2,825 
Less: debt discount (1)
— (518)
Less: deferred financing (1)
— (27)
Net carrying value of the Convertible Notes$— $2,280 
Net carrying value of Long-term debt$388,719 $389,254 
______________________________
(1) Included in the Consolidated Balance Sheets within long-term debt 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
The following table sets forth interest expense recognized related to the Company's debt for the three and nine months ended September 30, 2021 and 2020, respectively:
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)2021202020212020
Contractual interest expense$7,681 $6,250 $22,806 $13,245 
Amortization of debt discount$383 $395 $1,098 $869 
Amortization of deferred financing$269 $197 $754 $255