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Leases | 9 Months Ended
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Sep. 30, 2024
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 6 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 less than 1 year to 6 years. The Company’s sublease income was $0.4 million for each of the three months ended September 30, 2024 and 2023. The Company’s sublease income was $1.1 million and $1.0 million for the nine months ended September 30, 2024 and 2023, respectively. The components of lease cost were as follows:
|  | Three months ended September 30, |  | Nine months ended September 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
|  | (in thousands)
Operating lease costs: |  |  |  |  |  |  |  |
Operating lease cost |  | $ | 6,466 |  |  | $ | 6,466 |  |  | $ | 19,904 |  |  | $ | 20,499 |
Variable lease cost |  | 4,183 |  |  | 4,024 |  |  | 12,411 |  |  | 11,391 |
Total operating lease costs |  | $ | 10,649 |  |  | $ | 10,490 |  |  | $ | 32,315 |  |  | $ | 31,890 |
Finance lease costs: |  |  |  |  |  |  |  |
Amortization of assets under finance lease |  | $ | 3,294 |  |  | $ | 3,544 |  |  | $ | 10,329 |  |  | $ | 10,786 |
Interest |  | 70 |  |  | 297 |  |  | 342 |  |  | 1,103 |
Total finance lease costs |  | $ | 3,364 |  |  | $ | 3,841 |  |  | $ | 10,671 |  |  | $ | 11,889 |
The short-term lease costs were not material for either of the three and nine months ended September 30, 2024 and 2023. During the three months ended September 30, 2024 the Company recognized an impairment charge of $0.4 million related to right-of-use assets upon the termination of a sublease. During the nine months ended September 30, 2024, the Company recognized an impairment charge of $1.7 million related to right-of-use assets, of which $1.3 million was related to the Company exiting a certain office facility and is included within the impairment expense line in the Company's condensed consolidated statements of operations. The Company did not recognize any material impairment on its operating lease right-of-use assets for either of the three and nine months ended September 30, 2023.
|  | As of September 30, 2024 |  | As of December 31, 2023
Weighted Average Remaining Lease Term (in years): |  |  |  |
Operating leases |  | 3.01 |  | 3.48
Finance leases |  | 0.49 |  | 1.00
Weighted Average Discount Rate: |  |  |  |
Operating leases |  | 6.32 | % |  | 6.03 | %
Finance leases |  | 4.66 | % |  | 4.67 | %
Future minimum lease payments under non-cancellable leases as of September 30, 2024 were as follows:
|  | Operating Leases |  | Finance Leases
|  | (in thousands)
Remaining 2024 |  | $ | 8,516 |  |  | $ | 3,319 |
2025 |  | 24,990 |  |  | 1,618 |
2026 |  | 21,806 |  |  | — |
2027 |  | 12,502 |  |  | — |
2028 |  | 3,128 |  |  | — |
Thereafter |  | 1,971 |  |  | — |
Total future minimum lease payments |  | $ | 72,913 |  |  | $ | 4,937 |
Less: imputed interest |  | (6,297) |  |  | (51) |
Total liability |  | $ | 66,616 |  |  | $ | 4,886 |
As of September 30, 2024, the Company has undiscounted commitments of $2.2 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 the fourth quarter of 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 6 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 less than 1 year to 6 years. The Company’s sublease income was $0.4 million for each of the three months ended September 30, 2024 and 2023. The Company’s sublease income was $1.1 million and $1.0 million for the nine months ended September 30, 2024 and 2023, respectively. The components of lease cost were as follows:
|  | Three months ended September 30, |  | Nine months ended September 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
|  | (in thousands)
Operating lease costs: |  |  |  |  |  |  |  |
Operating lease cost |  | $ | 6,466 |  |  | $ | 6,466 |  |  | $ | 19,904 |  |  | $ | 20,499 |
Variable lease cost |  | 4,183 |  |  | 4,024 |  |  | 12,411 |  |  | 11,391 |
Total operating lease costs |  | $ | 10,649 |  |  | $ | 10,490 |  |  | $ | 32,315 |  |  | $ | 31,890 |
Finance lease costs: |  |  |  |  |  |  |  |
Amortization of assets under finance lease |  | $ | 3,294 |  |  | $ | 3,544 |  |  | $ | 10,329 |  |  | $ | 10,786 |
Interest |  | 70 |  |  | 297 |  |  | 342 |  |  | 1,103 |
Total finance lease costs |  | $ | 3,364 |  |  | $ | 3,841 |  |  | $ | 10,671 |  |  | $ | 11,889 |
The short-term lease costs were not material for either of the three and nine months ended September 30, 2024 and 2023. During the three months ended September 30, 2024 the Company recognized an impairment charge of $0.4 million related to right-of-use assets upon the termination of a sublease. During the nine months ended September 30, 2024, the Company recognized an impairment charge of $1.7 million related to right-of-use assets, of which $1.3 million was related to the Company exiting a certain office facility and is included within the impairment expense line in the Company's condensed consolidated statements of operations. The Company did not recognize any material impairment on its operating lease right-of-use assets for either of the three and nine months ended September 30, 2023.
|  | As of September 30, 2024 |  | As of December 31, 2023
Weighted Average Remaining Lease Term (in years): |  |  |  |
Operating leases |  | 3.01 |  | 3.48
Finance leases |  | 0.49 |  | 1.00
Weighted Average Discount Rate: |  |  |  |
Operating leases |  | 6.32 | % |  | 6.03 | %
Finance leases |  | 4.66 | % |  | 4.67 | %
Future minimum lease payments under non-cancellable leases as of September 30, 2024 were as follows:
|  | Operating Leases |  | Finance Leases
|  | (in thousands)
Remaining 2024 |  | $ | 8,516 |  |  | $ | 3,319 |
2025 |  | 24,990 |  |  | 1,618 |
2026 |  | 21,806 |  |  | — |
2027 |  | 12,502 |  |  | — |
2028 |  | 3,128 |  |  | — |
Thereafter |  | 1,971 |  |  | — |
Total future minimum lease payments |  | $ | 72,913 |  |  | $ | 4,937 |
Less: imputed interest |  | (6,297) |  |  | (51) |
Total liability |  | $ | 66,616 |  |  | $ | 4,886 |
As of September 30, 2024, the Company has undiscounted commitments of $2.2 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 the fourth quarter of 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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