Borrowings (Tables)

9 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

Schedule of Company's Debt Position

The following tables summarizes the Company’s debt position as of September 30, 2021 and December 31, 2020.

	As of September 30, 2021				As of December 31, 2020
	Revolving Credit Facility		Total		Revolving Credit Facility		Notes		Total
Current portion of long-term borrowings	$	15,000	$	15,000	$	25,000	$	—	$	25,000
Long-term borrowings	$	170,000	$	170,000	$	64,000	$	150,000	$	214,000
Unamortized debt discount	—		—		—		(11,236)		(11,236)
Unamortized debt issuance costs*	—		—		—		(803)		(803)
Long-term borrowings	$	170,000	$	170,000	$	64,000	$	137,961	$	201,961
Total borrowings	$	185,000	$	185,000	$	89,000	$	137,961	$	226,961

*Unamortized debt issuance costs for the Company’s revolving Credit Facility of $297 and $490 as of September 30, 2021 and December 31, 2020, respectively, are presented under “Other current assets” and “Other assets,” as applicable in the consolidated balance sheets.

Schedule of Credit Facilities Carried an Effective Interest Rate

effective interest rate as shown below.

	Three months ended September 30,				Nine months ended September 30,
	2021		2020		2021		2020
Effective Interest Rate	2.3	%	1.9	%	2.0	%	2.4	%

The Notes carried an effective interest rate as shown below:

	Three months ended September 30,				Nine months ended September 30,
	2021		2020		2021		2020
Effective Interest Rate	3.6	%	3.6	%	3.6	%	3.6	%

Schedule of Interest Expense Debt Recognized

During the three and nine months ended September 30, 2021 and 2020, the Company recognized interest expense and amortization of debt discount, on the Notes as below:

	Three months ended September 30,				Nine months ended September 30,
	2021		2020		2021		2020
Interest expense on the Notes	$	817	$	1,313	$	3,442	$	3,938
Amortization of debt discount on the Notes	$	431	$	654	$	1,795	$	1,943

Schedule of Maturities of Long-term Debt

Expected payments for all of the Company's borrowings as of September 30, 2021 were as follows:

	Revolving Credit Facility
2021 (October - December)	$	15,000
2022	170,000
Total	$	185,000