Quarterly report pursuant to Section 13 or 15(d)

DEBT (Tables)

v3.24.1.u1
DEBT (Tables)
3 Months Ended
Mar. 31, 2024
DEBT  
Schedule of debt instruments

The 2027 Notes are valued as a single liability measured at amortized cost, which approximates fair value, as no other features require bifurcation and recognition as derivatives. The following table presents the outstanding principal amount and carrying value of the 2027 Notes as of the date indicated (in thousands):

March 31, 

December 31, 

2024

2023

Principal

$

115,000

$

115,000

Unamortized debt discount

(1,780)

(1,924)

Unamortized debt issuance costs

 

(473)

 

(511)

Net carrying value

$

112,747

$

112,565

Schedule of interest expense on debt

The annual effective interest rate for the 2027 Notes was approximately 6.1%. Interest expense related to the 2027 Notes for the periods presented below are as follows (in thousands):

Three Months Ended March 31,

2024

2023

Coupon interest

$

1,744

$

1,725

Amortization of debt discount

144

144

Amortization of transaction costs

 

38

 

39

Total interest expense

$

1,926

$

1,908