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Leases
 6 Months Ended
Jun. 30, 2024
Leases [Abstract]  
Leases Leases
The Company's lease portfolio consists of real estate and co-location agreements in the United States and internationally. The real estate leases include leases for office space and have remaining lease terms of up to 7.1 years. Certain of these leases contain options that allow the Company to extend or terminate the lease agreement. The Company's co-location leases have remaining lease terms of up to 8.2 years. All of the Company's leases are classified as operating leases.
The components of lease cost related to the Company's operating leases included in the condensed consolidated statements of operations were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
(in thousands)(in thousands)
Operating lease cost$11,261 $10,864 $23,124 $21,925 
Total lease cost$11,261 $10,864 $23,124 $21,925 
Variable lease cost and short-term lease cost for the three and six months ended June 30, 2024 and June 30, 2023 were not material.
As of June 30, 2024, the Company had $54.7 million of total undiscounted future payments under operating leases that have not yet commenced, which were not included on the condensed consolidated balance sheets. These operating leases will commence between July 2024 and July 2026 and have an average lease term of 4.3 years.
As of June 30, 2024, the weighted-average remaining term of the Company’s operating leases was 4.7 years and the weighted-average discount rate used to measure the present value of the operating lease liabilities was 4.7%.
Maturities of the operating lease liabilities as of June 30, 2024 are as follows:
June 30, 2024
(in thousands)
2024 (remaining six months)$26,887 
202538,238 
202634,707 
202730,378 
202817,378 
Thereafter22,535 
Total lease payments$170,123 
Less: Imputed interest$(16,875)
Total operating lease liabilities$153,248 
Leases Leases
The Company's lease portfolio consists of real estate and co-location agreements in the United States and internationally. The real estate leases include leases for office space and have remaining lease terms of up to 7.1 years. Certain of these leases contain options that allow the Company to extend or terminate the lease agreement. The Company's co-location leases have remaining lease terms of up to 8.2 years. All of the Company's leases are classified as operating leases.
The components of lease cost related to the Company's operating leases included in the condensed consolidated statements of operations were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
(in thousands)(in thousands)
Operating lease cost$11,261 $10,864 $23,124 $21,925 
Total lease cost$11,261 $10,864 $23,124 $21,925 
Variable lease cost and short-term lease cost for the three and six months ended June 30, 2024 and June 30, 2023 were not material.
As of June 30, 2024, the Company had $54.7 million of total undiscounted future payments under operating leases that have not yet commenced, which were not included on the condensed consolidated balance sheets. These operating leases will commence between July 2024 and July 2026 and have an average lease term of 4.3 years.
As of June 30, 2024, the weighted-average remaining term of the Company’s operating leases was 4.7 years and the weighted-average discount rate used to measure the present value of the operating lease liabilities was 4.7%.
Maturities of the operating lease liabilities as of June 30, 2024 are as follows:
June 30, 2024
(in thousands)
2024 (remaining six months)$26,887 
202538,238 
202634,707 
202730,378 
202817,378 
Thereafter22,535 
Total lease payments$170,123 
Less: Imputed interest$(16,875)
Total operating lease liabilities$153,248