v3.25.1
Debt (Tables)
3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Outstanding Debt Obligations and Interest Expense Related to Convertible Debt
Outstanding debt obligations as of March 31, 2025 and December 31, 2024 were as follows (in thousands):
Maturities
Interest Rates as of March 31, 2025
March 31, 2025December 31, 2024
Convertible senior notes due 2025 (the "2025 Notes")May 20251.50%$390,537 $390,175 
Convertible senior notes due 2029 (the "2029 Notes")March 20290.625%450,646 450,081 
Non-revolving Loan20267.61%307 510 
Master Vehicle Loan
2025 - 2028
5.10% - 7.10%
138,374 154,281 
Total long-term debt, including current maturities$979,864 $995,047 
Less: Convertible senior notes, current (1)
390,537 390,175 
Less: Long-term debt, current (2)
39,449 38,904 
Total long-term debt$549,878 $565,968 
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(1)This balance is included within convertible senior notes, current on the condensed consolidated balance sheets.
(2)This balance is included within accrued and other current liabilities on the condensed consolidated balance sheets and is primarily related to vehicles.
The following table sets forth the primary components of interest expense as reported on the condensed consolidated statements of operations (in thousands):
Three Months Ended March 31,
20252024
Contractual interest expense related to the 2025 Notes and 2029 Notes$2,184 $2,613 
Amortization of debt discount and issuance costs related to the 2025 Notes and 2029 Notes927 804 
Vehicle loans and other interest expense3,039 3,631 
Interest expense$6,150 $7,048 
Schedule of Convertible Notes
The net carrying amounts of the Notes were as follows (in thousands):
March 31
2025
December 31
2024
2025 Notes
Principal$390,719 $390,719 
Unamortized debt discount and debt issuance costs(182)(544)
Net carrying amount of liability component$390,537 $390,175 
2029 Notes
Principal$460,000 $460,000 
Unamortized debt discount and debt issuance costs(9,354)(9,919)
Net carrying amount of liability component$450,646 $450,081 
Schedule of Maturities of Long-Term Debt Outstanding
Maturities of long-term debt outstanding, including current maturities, as of March 31, 2025 were as follows (in thousands):    
Remainder of 2025$418,868 
202658,522 
202751,698 
2028130 
2029450,646 
Thereafter— 
Total long-term debt outstanding$979,864