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Leases
 6 Months Ended
Jun. 30, 2024
Leases [Abstract]  
Leases Leases
The Company has leases for offices, data centers and computer and networking equipment that expire at various dates through 2031. The Company’s leases have remaining terms of one to seven years, some of the leases include a Company option to extend the leases for up to one to five years, and some of the leases include the option
to terminate the leases upon 30-days' notice. The Company does not separate lease and non-lease components for real estate operating leases.
The components of lease expenses were as follows (in thousands):
Three Months EndedSix Months Ended
June 30, 2024June 30, 2023June 30, 2024June 30, 2023
Operating lease cost$2,804 $3,370 $6,070 $6,752 
Finance lease cost:
Amortization of right-of-use assets$455 $16 $911 $79 
Interest on finance lease liabilities63 — 131 — 
Total finance lease cost$518 $16 $1,042 $79 
Supplemental cash flow information related to leases was as follows (in thousands):
Three Months EndedSix Months Ended
June 30, 2024June 30, 2023June 30, 2024June 30, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash used in operating leases$(2,687)$(2,825)$(5,772)$(5,318)
Financing cash used in finance leases(487)— (966)— 
Right of use assets obtained in exchange for lease obligations:
Operating leases420 1,313 629 5,454 
Finance leases— 2,167 — 2,167 
Supplemental balance sheet information related to leases was as follows (in thousands):
June 30, 2024December 31, 2023
Operating leases
Operating lease right-of-use assets$34,107 $38,873 
Operating lease liabilities$9,509 $10,731 
Operating lease liabilities — less current portion32,177 36,378 
Total operating lease liabilities$41,686 $47,109 
Finance leases
Finance lease right-of-use assets$3,653 $4,564 
Finance lease liabilities$1,819 $1,767 
Finance lease liabilities — less current portion1,949 2,877 
Total finance lease liabilities$3,768 $4,644 
Weighted average remaining terms were as follows (in years):
June 30, 2024December 31, 2023
Weighted average remaining lease term
Operating leases5.55.7
Finance leases2.12.6
Weighted average discount rates were as follows:
June 30, 2024December 31, 2023
Weighted average discount rate
Operating leases3.8 %3.8 %
Finance leases6.1 %6.1 %
Maturities of lease liabilities were as follows (in thousands):
Year Ending December 31,Operating LeasesFinance Leases
Remaining 2024$5,658 $994 
20259,515 1,988 
20267,316 1,012 
20276,010 — 
20285,582 — 
Thereafter11,709 — 
Total future minimum lease payments45,790 3,994 
Less: imputed interest(4,104)(226)
Total$41,686 $3,768 
As of June 30, 2024, the Company entered into an additional facility operating lease that is expected to commence on November 1, 2024, with a lease term of six years, representing a total commitment over its term of $5.1 million.
Leases Leases
The Company has leases for offices, data centers and computer and networking equipment that expire at various dates through 2031. The Company’s leases have remaining terms of one to seven years, some of the leases include a Company option to extend the leases for up to one to five years, and some of the leases include the option
to terminate the leases upon 30-days' notice. The Company does not separate lease and non-lease components for real estate operating leases.
The components of lease expenses were as follows (in thousands):
Three Months EndedSix Months Ended
June 30, 2024June 30, 2023June 30, 2024June 30, 2023
Operating lease cost$2,804 $3,370 $6,070 $6,752 
Finance lease cost:
Amortization of right-of-use assets$455 $16 $911 $79 
Interest on finance lease liabilities63 — 131 — 
Total finance lease cost$518 $16 $1,042 $79 
Supplemental cash flow information related to leases was as follows (in thousands):
Three Months EndedSix Months Ended
June 30, 2024June 30, 2023June 30, 2024June 30, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash used in operating leases$(2,687)$(2,825)$(5,772)$(5,318)
Financing cash used in finance leases(487)— (966)— 
Right of use assets obtained in exchange for lease obligations:
Operating leases420 1,313 629 5,454 
Finance leases— 2,167 — 2,167 
Supplemental balance sheet information related to leases was as follows (in thousands):
June 30, 2024December 31, 2023
Operating leases
Operating lease right-of-use assets$34,107 $38,873 
Operating lease liabilities$9,509 $10,731 
Operating lease liabilities — less current portion32,177 36,378 
Total operating lease liabilities$41,686 $47,109 
Finance leases
Finance lease right-of-use assets$3,653 $4,564 
Finance lease liabilities$1,819 $1,767 
Finance lease liabilities — less current portion1,949 2,877 
Total finance lease liabilities$3,768 $4,644 
Weighted average remaining terms were as follows (in years):
June 30, 2024December 31, 2023
Weighted average remaining lease term
Operating leases5.55.7
Finance leases2.12.6
Weighted average discount rates were as follows:
June 30, 2024December 31, 2023
Weighted average discount rate
Operating leases3.8 %3.8 %
Finance leases6.1 %6.1 %
Maturities of lease liabilities were as follows (in thousands):
Year Ending December 31,Operating LeasesFinance Leases
Remaining 2024$5,658 $994 
20259,515 1,988 
20267,316 1,012 
20276,010 — 
20285,582 — 
Thereafter11,709 — 
Total future minimum lease payments45,790 3,994 
Less: imputed interest(4,104)(226)
Total$41,686 $3,768 
As of June 30, 2024, the Company entered into an additional facility operating lease that is expected to commence on November 1, 2024, with a lease term of six years, representing a total commitment over its term of $5.1 million.