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Convertible Notes, Debts and Finance Leases (Tables)
 12 Months Ended
Dec. 31, 2020
Debt Instrument [Line Items]  
Schedule of Debt
The Company has a variety of debt and credit facilities primarily in France to satisfy the financing requirements of the operations of its French subsidiary. These arrangements are summarized in the table below:
December 31,
(in thousands)20202019
Financing from French government agencies related to various government incentive programs (1)
$14,974 $16,566 
Relief loans (2)
6,694 — 
Term loans167 587 
Obligations under finance leases22 71 
  Total debt obligations21,857 17,224 
  Less: current portion(11,771)(6,713)
  Long-term portion$10,086 $10,511 
(1) Loans backed by French R&D tax credit receivables were $13.6 million and $15.1 million as of December 31, 2020 and 2019, respectively. As of December 31, 2020, the French subsidiary had an aggregate of $21.5 million of R&D tax credit receivables from the French government from 2021 through 2024. These tax loans have a fixed rate of 0.6%, plus EURIBOR 1 month plus 1.3% and mature between 2021 through 2023. The remaining loans of $1.4 million and $1.5 million as of December 31, 2020 and 2019, respectively, primarily relate to financial support from French government agencies for R&D innovation projects at minimal interest rates, and the loans outstanding at December 31, 2020 mature between 2021 through 2025.
(2) Refer to the below section “Relief Loans” for the description of these loans.
Schedule of Maturities of Long-term Debt
The table below presents the future minimum repayments of debts and finance lease obligations in France as of December 31, 2020 (in thousands):
Years ending December 31,Finance lease obligationsOther Debt obligations
2021$22 $11,749 
2022— 5,420 
2023— 3,856 
2024— 184 
2025— 626 
Total$22 $21,835 
Convertible Note due 2022 [Member]  
Debt Instrument [Line Items]  
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments The following table presents the components of the 2022 Notes:
(in thousands, except for years and percentages)As of December 31, 2020
Liability:
  Principal amount$37,707 
  Less: Debt discount, net of amortization(1,357)
  Less: Debt issuance costs, net of amortization(425)
  Carrying amount$35,925 
  Remaining amortization period (years)1.9
  Effective interest rate on liability component6.95 %
Convertible Interest Expense Recognized
The following table presents interest expense recognized for the 2022 Notes:
(in thousands)Year ended
December 31, 2020
Contractual interest expense$953 
Amortization of debt discount373 
Amortization of debt issuance costs117 
Total interest expense recognized$1,443 
Convertible Note due 2024 [Member]  
Debt Instrument [Line Items]  
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments
The following table presents the components of the 2024 Notes:
As of December 31,
(in thousands, except for years and percentages)20202019
Liability:
  Principal amount$115,500 $115,500 
  Less: Debt discount, net of amortization(19,294)(23,652)
  Less: Debt issuance costs, net of amortization(2,624)(3,219)
  Carrying amount$93,582 $88,629 
  Remaining amortization period (years)3.74.7
  Effective interest rate on liability component7.95 %7.95 %
Convertible Interest Expense Recognized
The following table presents interest expense recognized for the 2024 Notes:
Year ended December 31,
(in thousands)20202019
Contractual interest expense$2,310 $687 
Amortization of debt discount4,358 1,226 
Amortization of debt issuance costs595 166 
Total interest expense recognized$7,263 $2,079 
Convertible Note due 2020 [Member]  
Debt Instrument [Line Items]  
Convertible Interest Expense Recognized
The following table presents interest expense recognized for the 2020 Notes:
Year ended December 31,
(in thousands)202020192018
Contractual interest expense$936 $4,148 $5,130 
Amortization of debt discount1,158 4,787 5,408 
Amortization of debt issuance costs138 577 652 
  Total interest expense recognized$2,232 $9,512 $11,190