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Leases | 12 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
Leases | Leases The Company has operating leases for corporate offices and data centers (“colocation” leases), and finance leases for networking equipment. The Company’s operating leases have remaining lease terms ranging from less than 1 year to 7 years, some of which include options to extend the leases. The Company’s finance leases have remaining lease terms up to 1 year. The Company also subleases a portion of its corporate office spaces. The Company’s subleases have remaining lease terms ranging from 1 year to 7 years. Sublease income was $1.2 million, $0.9 million, and $1.0 million for the years ended December 31, 2023, 2022 and 2021, respectively. The components of lease cost were as follows:
| As of December 31,
| 2023 |  | 2022 |  | 2021
| (in thousands)
Operating lease cost: |  |  |  |  |
Operating lease cost | $ | 26,996 |  |  | $ | 30,976 |  |  | $ | 26,716 |
Variable lease cost | 15,112 |  |  | 11,736 |  |  | 6,820 |
Total operating lease cost | $ | 42,108 |  |  | $ | 42,712 |  |  | $ | 33,536 |
Finance lease cost: |  |  |  |  |
Amortization of assets under finance lease | $ | 14,391 |  |  | $ | 14,539 |  |  | $ | 6,834 |
Interest | 1,328 |  |  | 2,381 |  |  | 1,754 |
Total finance lease cost | $ | 15,719 |  |  | $ | 16,920 |  |  | $ | 8,588 |
The short-term lease costs were not material for the years ended December 31, 2023, 2022 and 2021. During the years ended December 31, 2023 and 2022, the Company recognized impairment on its operating lease right-of-use assets of $0.7 million and $2.1 million, respectively. The Company did not recognize any material impairment on its operating lease right-of-use assets for the year ended December 31, 2021.
| As of December 31,
| 2023 |  | 2022 |  | 2021
| (in thousands)
Weighted Average Remaining Lease term (in years): |  |  |  |  |
Operating leases | 3.48 |  | 4.09 |  | 4.41
Finance leases | 1.00 |  | 1.74 |  | 2.23
Weighted Average Discount Rate: |  |  |  |  |
Operating leases | 6.03 | % |  | 5.36 | % |  | 5.20 | %
Finance leases | 4.67 | % |  | 4.73 | % |  | 4.86 | %
Future minimum lease payments under non-cancellable leases as of December 31, 2023 were as follows:
| Operating Leases |  | Finance Leases
| (in thousands)
Year ending December 31, |
2024 | $ | 28,160 |  |  | $ | 16,064 |
2025 | 20,868 |  |  | 1,617 |
2026 | 18,896 |  |  | — |
2027 | 10,502 |  |  | — |
2028 | 2,446 |  |  | — |
Thereafter | 1,838 |  |  | — |
Total future minimum lease payments | $ | 82,710 |  |  | $ | 17,681 |
Less: imputed interest | (7,905) |  |  | (395) |
Total liability | $ | 74,805 |  |  | $ | 17,286 |
As of December 31, 2023, the Company has undiscounted commitments of $2.3 million for operating leases that have not yet commenced, and therefore are not included in the right-of-use asset or operating lease liability. These operating leases will commence in 2024 with lease terms of 3 years.
Leases | Leases The Company has operating leases for corporate offices and data centers (“colocation” leases), and finance leases for networking equipment. The Company’s operating leases have remaining lease terms ranging from less than 1 year to 7 years, some of which include options to extend the leases. The Company’s finance leases have remaining lease terms up to 1 year. The Company also subleases a portion of its corporate office spaces. The Company’s subleases have remaining lease terms ranging from 1 year to 7 years. Sublease income was $1.2 million, $0.9 million, and $1.0 million for the years ended December 31, 2023, 2022 and 2021, respectively. The components of lease cost were as follows:
| As of December 31,
| 2023 |  | 2022 |  | 2021
| (in thousands)
Operating lease cost: |  |  |  |  |
Operating lease cost | $ | 26,996 |  |  | $ | 30,976 |  |  | $ | 26,716 |
Variable lease cost | 15,112 |  |  | 11,736 |  |  | 6,820 |
Total operating lease cost | $ | 42,108 |  |  | $ | 42,712 |  |  | $ | 33,536 |
Finance lease cost: |  |  |  |  |
Amortization of assets under finance lease | $ | 14,391 |  |  | $ | 14,539 |  |  | $ | 6,834 |
Interest | 1,328 |  |  | 2,381 |  |  | 1,754 |
Total finance lease cost | $ | 15,719 |  |  | $ | 16,920 |  |  | $ | 8,588 |
The short-term lease costs were not material for the years ended December 31, 2023, 2022 and 2021. During the years ended December 31, 2023 and 2022, the Company recognized impairment on its operating lease right-of-use assets of $0.7 million and $2.1 million, respectively. The Company did not recognize any material impairment on its operating lease right-of-use assets for the year ended December 31, 2021.
| As of December 31,
| 2023 |  | 2022 |  | 2021
| (in thousands)
Weighted Average Remaining Lease term (in years): |  |  |  |  |
Operating leases | 3.48 |  | 4.09 |  | 4.41
Finance leases | 1.00 |  | 1.74 |  | 2.23
Weighted Average Discount Rate: |  |  |  |  |
Operating leases | 6.03 | % |  | 5.36 | % |  | 5.20 | %
Finance leases | 4.67 | % |  | 4.73 | % |  | 4.86 | %
Future minimum lease payments under non-cancellable leases as of December 31, 2023 were as follows:
| Operating Leases |  | Finance Leases
| (in thousands)
Year ending December 31, |
2024 | $ | 28,160 |  |  | $ | 16,064 |
2025 | 20,868 |  |  | 1,617 |
2026 | 18,896 |  |  | — |
2027 | 10,502 |  |  | — |
2028 | 2,446 |  |  | — |
Thereafter | 1,838 |  |  | — |
Total future minimum lease payments | $ | 82,710 |  |  | $ | 17,681 |
Less: imputed interest | (7,905) |  |  | (395) |
Total liability | $ | 74,805 |  |  | $ | 17,286 |
As of December 31, 2023, the Company has undiscounted commitments of $2.3 million for operating leases that have not yet commenced, and therefore are not included in the right-of-use asset or operating lease liability. These operating leases will commence in 2024 with lease terms of 3 years.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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