Leases

9 Months Ended

Sep. 30, 2024

Note 9. Leases

The Company primarily leases facilities for office and data center space under non-cancelable operating leases for its U.S. and international locations. As of September 30, 2024, non-cancelable leases expire on various dates between 2024 and 2029.

Generally, the non-cancelable leases include one or more options to renew, with renewal terms that can extend the lease term from one to five years or more. The Company has the right to exercise or forego the lease renewal options. The lease agreements do not contain any material residual value guarantees or material restrictive covenants.

As of September 30, 2024 and December 31, 2023, the balance sheet components of leases were as follows (in thousands):


	September 30, 2024		December 31, 2023
Operating lease right-of-use assets	$	45,100	$	42,989

Accrued liabilities	$	18,708	$	16,707
Operating lease liabilities	29,830		28,178
Total operating lease liabilities	$	48,538	$	44,885

The supplemental cash flow information related to operating leases for the nine months ended September 30, 2024 and 2023 were as follows (in thousands):


	Nine Months Ended September 30,
	2024		2023
Operating cash flows resulting from operating leases:
Cash paid for amounts included in the measurement of lease liabilities	$	15,950	$	17,522

New ROU assets obtained in exchange of lease liabilities:
Operating leases	$	17,172	$	12,467

As of September 30, 2024, the Company has additional operating leases of approximately $5.6 million that have not yet commenced and as such, have not yet been recognized on the Company’s Condensed Consolidated Balance Sheets. These operating leases are expected to commence in the fourth quarter of 2024 with a minimum lease terms of approximately 3.5 years.