Restructuring Charges

6 Months Ended

Jun. 30, 2026

Restructuring and Related Activities [Abstract]

Restructuring charges for the three and six months ended June 30, 2026 were $0.4 million and $1.1 million, respectively. The $0.4 million of restructuring charges recognized in the second quarter of 2026 included $0.7 million of rent and related expenses, net of sublease income, for our previously vacated office spaces, partially offset by a $0.2 million non-cash gain on lease modification on our office space in Hillsboro, Oregon. The $1.1 million of restructuring charges recognized in the first six months of 2026 included $3.2 million of severance-related expenses and $1.7 million of rent and related expenses, net of sublease income, for our previously vacated office spaces, largely offset by $4.0 million of non-cash gains on lease modifications. In the first quarter of 2026, we entered into the Seventh Amendment to the office lease agreement for our principal executive offices in Chicago, Illinois, which, among other items, provides for the early termination of the lease with respect to certain leased spaces previously vacated. As a result of this modification, we recognized a $3.8 million non-cash gain on lease modification. See Note 14 “Commitments, Contingencies and Guarantees” within the notes to our consolidated financial statements for additional information on the Seventh Amendment to the Chicago, Illinois office lease.

Restructuring charges for the three and six months ended June 30, 2025 were $0.6 million and $1.9 million, respectively. The $0.6 million of restructuring charges recognized in the second quarter of 2025 primarily consisted of rent and related expenses, net of sublease income, for our previously vacated office spaces. The $1.9 million of restructuring charges recognized in the first six months of 2025 primarily consisted of $1.0 million of rent and related expenses, net of sublease income, for our previously vacated office spaces and a $0.7 million non-cash lease impairment charge driven by updated sublease assumptions for a previously vacated office space.

The table below sets forth the changes in the carrying value of our restructuring charge liability by restructuring type for the six months ended June 30, 2026.


	Employee Costs		Other		Total
Balance as of December 31, 2025	$	1,914	$	636	$	2,550
Additions (1)	2,643		107		2,750
Payments	(4,501)		(176)		(4,677)
Adjustments (1)	(49)		33		(16)
Balance as of June 30, 2026	$	7	$	600	$	607

(1) Additions and adjustments exclude non-cash items related to employee costs, such as share-based compensation expense recognized upon the modification of equity awards to accelerate vesting upon termination, and non-cash items related to vacated office spaces, such as lease impairment charges, accelerated depreciation on abandoned operating lease ROU assets and fixed assets and non-cash gains on lease modifications, all of which are recorded as restructuring charges on our consolidated statements of operations.

All of the restructuring charge liability related to employee costs as of June 30, 2026 is expected to be paid in the next 12 months. All of the other restructuring charge liability at June 30, 2026, which primarily relates to the early termination of a contract in a prior period, is expected to be paid in the next 12 months. The employee costs and other restructuring charge liabilities are included as components of accrued payroll and related benefits and accrued expenses and other current liabilities in our consolidated balance sheet, respectively.