BORROWINGS

3 Months Ended

Mar. 31, 2026

NOTE 5- BORROWINGS

The Company had the following debt outstanding as of:


(in thousands)	Outstanding Principal		Unamortized Deferred Issuance Costs		Carrying Value
March 31, 2026
0% Convertible senior notes due 2026	$	3,944	$	—	$	3,944
5.875% Convertible senior notes due 2030	92,030		(5,244)		86,786
Outstanding convertible notes	$	95,974	$	(5,244)	$	90,730

(in thousands)	Outstanding Principal		Unamortized Deferred Issuance Costs		Carrying Value
December 31, 2025
0% Convertible senior notes due 2026	$	3,944	$	—	$	3,944
5.875% Convertible senior notes due 2030	92,030		(5,636)		86,394
Outstanding convertible notes	$	95,974	$	(5,636)	$	90,338

The Company's long-term debt requires that the Company maintain certain financial covenants, including minimum qualified cash, accounts receivable and inventory balances, among others, and the Company was in compliance with all covenants as of March 31, 2026.

Convertible Senior Notes

Convertible senior secured notes due 2030

The 2030 Notes are senior secured obligations, guaranteed by certain U.S. subsidiaries of the Company (the "Note Parties"), and bear interest semiannually at a rate of 5.875%, payable on June 15 and December 15 of each year, beginning December 15, 2025.

Convertible senior notes due 2026

The 2026 Notes have an annual effective interest rate of 0.594%, reflecting original issue discounts, commissions, and offering expenses. The 2026 Notes are scheduled to mature on November 15, 2026, unless earlier redeemed, repurchased, or converted in accordance with their terms.

The Company incurred debt issuance cost amortization of $0.5 million and $0.3 million for the three months ended March 31, 2026 and 2025, respectively.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

3D SYSTEMS CORP 10-Q