LEASES

12 Months Ended

Dec. 31, 2025

6. LEASES

We have entered into various non-cancelable office space operating leases, with lease periods expiring through June 2030. These leases do not contain residual value guarantees, covenants, or other restrictions.

In August 2024, we entered into an operating lease agreement for office space in Mountain View, California to replace our existing headquarters lease, resulting in the recognition of an operating lease right-of-use asset and operating lease liability of $3.0 million. The lease term commenced in September 2024 and terminates in June 2030. The operating lease agreement includes an option to extend or terminate the lease, which is not reasonably certain to be exercised and, therefore, is not factored into the determination of lease payments.

The components of lease costs were as follows:


	Year Ended December 31,
	2025		2024		2023
Operating lease cost	$	0.9	$	4.8	$	5.5
Short-term lease cost	0.8		0.8		0.9
Variable lease cost	0.7		2.0		2.1
Sublease income(1)	—		(2.3)		(2.7)
Total lease costs	$	2.4	$	5.3	$	5.8

(1) In May 2022, we entered into an agreement to sublease a portion of our existing office space in Mountain View, California, which commenced on June 1, 2022 and terminated on October 31, 2024.

Future lease payments under our non-cancelable operating leases, excluding short-term leases, as of December 31, 2025 were as follows:


2026	$	1.7
2027	1.8
2028	1.2
2029	1.2
2030	0.6

Total lease payments	6.5

Less imputed interest	(0.8)
Present value of operating lease liabilities	$	5.7
Operating lease liabilities, current	1.8
Operating lease liabilities, non-current	3.9
Total operating lease liabilities	$	5.7

Supplemental cash flow information as well as the weighted-average remaining lease term and discount rate related to our operating leases were as follows:


	Year Ended December 31,
	2025		2024		2023
Cash paid for amounts included in the measurement of operating lease liabilities	$	0.7	$	6.5	$	8.5
Cash received for lease incentives	0.8		—		—
Operating lease ROU assets obtained in exchange for lease liabilities	2.2		3.0		—


	December 31, 2025		December 31, 2024
Weighted-average remaining operating lease term (in years)	3.92		5.43
Weighted-average operating lease discount rate	6.50	%	6.56	%