IMPAIRMENT AND RESTRUCTURING CHARGES

9 Months Ended

Sep. 30, 2023

Restructuring and Related Activities [Abstract]

During the three and nine months ended September 30, 2023, there were no impairment and restructuring charges.

In February 2022, the Company's board of directors (the “Board”) approved a restructuring plan ("Restructuring Plan") to allow it to effectively and efficiently scale its business, which resulted in severance and other employment related costs $3.4 million during the nine months ended September 30, 2022. Also in February 2022, the Board approved reducing the Company's leased space for its headquarters in San Francisco, California, by a total amount of leased square footage of approximately 50%. As a result, the Company recognized an impairment of its ROU asset and related leasehold improvements and furniture and fixtures in the amount of $23.2 million during the nine months ended September 30, 2022. The Company's restructuring and impairment charges are described below (in thousands):


	Nine Months Ended September 30, 2022
Restructuring charges	$	3,444
Impairment charges	23,164
Total	$	26,608

The Company did not record any impairment charges during the nine months ended September 30, 2023.

For further details, please refer to Note 7, Impairment and Restructuring, included in the financial statements accompanying the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.

Restructuring

The following table provides a summary of changes in the restructuring liabilities associated with the Restructuring Plan (in thousands):


	December 31, 2022		Charges		Cash Payments		September 30, 2023
Employee severance	$	394	$	—	$	(394)	$	—
Total	$	394	$	—	$	(394)	$	—