LEASES

12 Months Ended

Dec. 31, 2024

13. LEASES

We have operating leases for warehouses, office space, and data centers. Our leases have remaining lease terms of one year to eight years, some of which may include options to extend the leases perpetually, and some of which may include options to terminate the leases within one year. Variable lease costs include executory costs, such as taxes, insurance, and maintenance.

Due to the sale of our corporate headquarters, in October 2024, we entered into a sublease agreement to rent the third floor of an office building in Murray, Utah consisting of approximately 36,516 square feet of space that will be used as the Company's new corporate headquarters. The sublease commenced in December 2024 for an initial term of 100 months expiring in March 2033.

The components of lease expense were as follows (in thousands):


	Years ended December 31,
	2024		2023		2022
Operating lease cost	$	3,240	$	5,257	$	5,975

Variable lease cost	906		1,300		1,489

The following tables provides a summary of other information related to leases (in thousands):


	Years ended December 31,
	2024		2023		2022
Cash payments included in operating cash flows from lease arrangements	$	3,253	$	5,500	$	6,237
Right-of-use assets obtained in exchange for new operating lease liabilities	7,170		836		437

The following table provides a summary of balance sheet information related to leases:


	December 31,
	2024		2023
Weighted-average remaining lease term—operating leases	6.65 years		1.57 years
Weighted-average discount rate—operating leases	6	%	7	%

Maturity of lease liabilities under our non-cancellable operating leases as of December 31, 2024, are as follows (in thousands):


Payments due by period
2025	$	1,749
2026	1,241
2027	1,127
2028	1,085
2029	1,114
Thereafter	3,497
Total lease payments	9,813
Less interest	2,019
Present value of lease liabilities	$	7,794