Commitments and Contingencies

3 Months Ended

Mar. 31, 2026

Commitments and Contingencies Disclosure [Abstract]

Leases

Effective October 1, 2025, we executed the sixth amendment to our lease agreement (the "Amendment") for our current headquarters located in Minneapolis, Minnesota where we lease approximately 198,000 square feet. The Amendment extends the lease term to end in July 2043 and provides approximately $33 million of lease incentives, which were included in the initial measurement of the operating lease right-of-use asset. The Company expects to utilize approximately $18 million of these lease incentives during the year ending December 31, 2027, with the remaining balance to be utilized thereafter.

The components of lease expense were as follows:


	Three Months Ended March 31,
(in thousands)	2026		2025
Operating lease cost	$	764	$	921
Variable lease cost	895		882
	$	1,659	$	1,803

Supplemental cash flow information related to leases was as follows:


	Three Months Ended March 31,
(in thousands)	2026		2025
Cash paid for amounts included in the measurement of lease liabilities
Operating cash outflows from operating leases	$	1,237	$	1,457
Right-of-use assets obtained in exchange for operating lease liabilities	752		1,094

Supplemental balance sheet information related to operating leases was as follows:


	March 31, 2026		December 31, 2025
Weighted-average remaining lease term	11.7 years		11.0 years
Weighted-average discount rate	6.0	%	6.0	%

Future minimum lease payments under operating leases are presented net of lease incentives deemed payable at lease commencement. At March 31, 2026, our future minimum payments under operating leases were as follows:


(in thousands)
Remainder of 2026	3,372
2027	(16,648)
2028	1,329
2029	2,884
2030	2,932
Thereafter	30,161
Total future gross payments	24,030
Less: imputed interest	(17,412)
Total operating lease liabilities	$	6,618

Purchase Commitments

We have entered into separate noncancelable agreements with computing infrastructure, productivity software, customer relationship management, and performance and security data analytics vendors for services through 2030. At March 31, 2026, our remaining purchase commitments and estimated purchase timing were as follows:


(in thousands)
Remainder of 2026	6,368
2027	3,472
2028	2,258
2029	1,318
2030	86
Total estimated future purchases	$	13,502