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Leases (Tables) | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Schedule of Primary Office Leases and Maturity of Lease Liabilities | The following table summarizes our primary office leases as of December 31, 2024 (in thousands, other than term):
Location |  | Lease Termination Term (in years) |  | Future Minimum Lease Commitments |  | Letter of Credit Amount Required
Arlington, VA (1) |  | 6.1 |  | $ | 3,218 |  |  | $ | 1,579 |
Edison, NJ |  | 1.3 |  | 707 |  |  | 222 |
Makati City, Philippines |  | 3.4 |  | 2,286 |  |  | — |
Alpharetta, GA |  | 0.7 |  | 361 |  |  | — |
Pune, India |  | 3.2 |  | 1,877 |  |  | — |
Brea, CA |  | 2.4 |  | 2,373 |  |  | — |
———————— (1) Amounts required under the letter of credit for our previous headquarters’ lease in Arlington, VA until November 2025. Maturity of lease liabilities including future lease termination payments (in thousands) is as follows:
| Operating lease expense
2025 | $ | 27,610 |
2026 | 18,719 |
2027 | 3,008 |
2028 | 1,785 |
2029 | 1,370 |
Thereafter | 1,663 |
Total lease payments | 54,155 |
Less: |
Interest | 2,469 |
Present value of lease liabilities | $ | 51,686 |
Schedule of Components of Lease Expense, Weighted-Average Discount Rate and Weighted-remaining Lease Terms | The following table summarizes the components of our lease expense (in thousands):
|  |  | For the Year Ended December 31,
|  |  |  |  | 2024 |  | 2023 |  | 2022
Operating lease cost |  |  |  |  | $ | 2,960 |  |  | $ | 7,984 |  |  | $ | 8,956 |
Variable lease cost |  |  |  |  | 5,301 |  |  | 6,004 |  |  | 5,682 |
Total lease cost |  |  |  |  | $ | 8,261 |  |  | $ | 13,988 |  |  | $ | 14,638 |
Our weighted-average discount rate and our weighted remaining lease terms (in years) are as follows:
| December 31,
| 2024 |  | 2023 |  | 2022
Weighted average discount rate | 9.09 | % |  | 6.40 | % |  | 6.36 | %
Weighted average remaining lease term | 4.3 |  | 6.0 |  | 7.8

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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