Lessee Leases

3 Months Ended

Mar. 31, 2026

The Company has operating leases for office buildings, data centers, office equipment, and vehicles. The Company’s leases have initial terms of one to twelve years. As of March 31, 2026, the Company did not have any additional material operating leases that were entered into, but not yet commenced.

The maturity schedule of future minimum lease payments under operating leases and the reconciliation to the operating lease liabilities reported on the Condensed Consolidated Balance Sheets was as follows:


	March 31, 2026

	(In thousands)
Remaining nine months of 2026	$	10,115
2027	11,737
2028	10,034
2029	3,255
2030	763
Thereafter	1,573
Total operating lease payments	37,477
Present value adjustment	(3,196)
Total operating lease liabilities (1)	$	34,281

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(1) Amount consists of a current and long-term portion of operating lease liabilities of $11.6 million and $22.7 million, respectively. The current portion of the operating lease liabilities is included in accrued liabilities in the Condensed Consolidated Balance Sheets.

Operating lease costs were $2.4 million for both the three months ended March 31, 2026 and 2025. Short-term lease costs and variable lease costs were not material for the three months ended March 31, 2026 and 2025.

The following table summarizes supplemental cash flow information related to the Company’s operating leases:


	Three Months Ended March 31,
	2026		2025

	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities	$	3,455	$	3,381
Right-of-use assets obtained in exchange for new lease liabilities	$	820	$	5,381

The following table summarizes the weighted-average remaining lease term and weighted-average discount rate related to the Company’s operating leases:


	March 31, 2026		December 31, 2025
Weighted-average remaining lease term, years	3.3		3.4
Weighted-average discount rate, %	5.5	%	5.5	%