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Leases | 6 Months Ended
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Jun. 30, 2026
Leases [Abstract] |
Leases | Leases We have operating leases for office space, data centers and certain equipment. Our operating leases have lease terms of 1 year to 30 years, some of which may include options to extend the leases for up to 5 years, and some of which may include options to terminate the leases within 1 year. We also have a finance lease for office space that has a remaining lease term of 32 years. Operating lease costs recognized in our Condensed Consolidated Statements of Operations for the three months ended June 30, 2026 and 2025 totaled $5.8 million and $6.0 million, respectively, including short-term lease costs of $1.6 million for both the three months ended June 30, 2026 and 2025. Year-to-date June 30, 2026 and 2025 operating lease costs totaled $12.4 million and $11.5 million, respectively, including short-term lease costs of $3.2 million and $3.4 million, respectively. Amortization of the right-of-use asset for our finance leases totaled $0.2 million for both the three months ended June 30, 2026 and 2025 and $0.4 million for both the six months ended June 30, 2026 and 2025. Interest expense on the finance leases liability totaled $0.5 million for both the three months ended June 30, 2026 and 2025 and $1.1 million for both the six months ended June 30, 2026 and 2025. Other information related to our leases was as follows:
(in thousands, except lease term and discount rate) |  | As of June 30, 2026 |  | As of December 31, 2025
Balance Sheet Information |  |  |  |
Operating Leases |  |  |  |
Right-of-use assets |  | $ | 85,747 |  |  | $ | 95,975 |
Other current liabilities |  | 19,519 |  |  | 18,974 |
Operating lease liabilities |  | 78,329 |  |  | 85,885 |
Finance Leases |  |  |  |
Property and equipment, at cost |  | 28,321 |  |  | 28,321 |
Accumulated depreciation |  | (2,852) |  |  | (2,454) |
Property and equipment, net |  | 25,469 |  |  | 25,867 |
Other liabilities |  | 31,682 |  |  | 31,462 |
Weighted Average Remaining Lease Term |  |  |  |
Operating leases |  | 10.76 years |  | 10.20 years
Finance leases |  | 32.00 years |  | 32.50 years
Weighted Average Discount Rate |  |  |  |
Operating leases |  | 5.98 | % |  | 5.78 | %
Finance leases |  | 7.10 | % |  | 7.10 | %
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) |  | 2026 |  | 2025 |  | 2026 |  | 2025
Supplemental Cash Flows Information |  |  |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 5,359 |  |  | $ | 5,714 |  |  | $ | 11,556 |  |  | $ | 11,112 |
Operating cash flows from finance leases |  | 450 |  |  | 438 |  |  | 900 |  |  | 876 |
Financing cash flows from finance leases |  | — |  |  | — |  |  | — |  |  | — |
Right-of-use assets obtained in exchange for operating lease obligations |  | 1,265 |  |  | 9,947 |  |  | 1,871 |  |  | 12,098 |
Right-of-use assets obtained in exchange for finance lease obligations |  | — |  |  | — |  |  | — |  |  | — |
Future minimum lease payments under non-cancellable leases as of June 30, 2026 were as follows:
(in thousands) |  | Operating Leases |  | Finance Leases
Remainder of 2026 |  | $ | 12,573 |  |  | $ | 924 |
2027 |  | 22,307 |  |  | 1,875 |
2028 |  | 16,949 |  |  | 1,926 |
2029 |  | 14,615 |  |  | 1,979 |
2030 |  | 7,922 |  |  | 2,034 |
Thereafter |  | 64,752 |  |  | 86,111 |
Total future minimum lease payments |  | 139,118 |  |  | 94,849 |
Less: Imputed interest |  | (41,270) |  |  | (63,167) |
Total |  | $ | 97,848 |  |  | $ | 31,682 |
Leases | Leases We have operating leases for office space, data centers and certain equipment. Our operating leases have lease terms of 1 year to 30 years, some of which may include options to extend the leases for up to 5 years, and some of which may include options to terminate the leases within 1 year. We also have a finance lease for office space that has a remaining lease term of 32 years. Operating lease costs recognized in our Condensed Consolidated Statements of Operations for the three months ended June 30, 2026 and 2025 totaled $5.8 million and $6.0 million, respectively, including short-term lease costs of $1.6 million for both the three months ended June 30, 2026 and 2025. Year-to-date June 30, 2026 and 2025 operating lease costs totaled $12.4 million and $11.5 million, respectively, including short-term lease costs of $3.2 million and $3.4 million, respectively. Amortization of the right-of-use asset for our finance leases totaled $0.2 million for both the three months ended June 30, 2026 and 2025 and $0.4 million for both the six months ended June 30, 2026 and 2025. Interest expense on the finance leases liability totaled $0.5 million for both the three months ended June 30, 2026 and 2025 and $1.1 million for both the six months ended June 30, 2026 and 2025. Other information related to our leases was as follows:
(in thousands, except lease term and discount rate) |  | As of June 30, 2026 |  | As of December 31, 2025
Balance Sheet Information |  |  |  |
Operating Leases |  |  |  |
Right-of-use assets |  | $ | 85,747 |  |  | $ | 95,975 |
Other current liabilities |  | 19,519 |  |  | 18,974 |
Operating lease liabilities |  | 78,329 |  |  | 85,885 |
Finance Leases |  |  |  |
Property and equipment, at cost |  | 28,321 |  |  | 28,321 |
Accumulated depreciation |  | (2,852) |  |  | (2,454) |
Property and equipment, net |  | 25,469 |  |  | 25,867 |
Other liabilities |  | 31,682 |  |  | 31,462 |
Weighted Average Remaining Lease Term |  |  |  |
Operating leases |  | 10.76 years |  | 10.20 years
Finance leases |  | 32.00 years |  | 32.50 years
Weighted Average Discount Rate |  |  |  |
Operating leases |  | 5.98 | % |  | 5.78 | %
Finance leases |  | 7.10 | % |  | 7.10 | %
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) |  | 2026 |  | 2025 |  | 2026 |  | 2025
Supplemental Cash Flows Information |  |  |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 5,359 |  |  | $ | 5,714 |  |  | $ | 11,556 |  |  | $ | 11,112 |
Operating cash flows from finance leases |  | 450 |  |  | 438 |  |  | 900 |  |  | 876 |
Financing cash flows from finance leases |  | — |  |  | — |  |  | — |  |  | — |
Right-of-use assets obtained in exchange for operating lease obligations |  | 1,265 |  |  | 9,947 |  |  | 1,871 |  |  | 12,098 |
Right-of-use assets obtained in exchange for finance lease obligations |  | — |  |  | — |  |  | — |  |  | — |
Future minimum lease payments under non-cancellable leases as of June 30, 2026 were as follows:
(in thousands) |  | Operating Leases |  | Finance Leases
Remainder of 2026 |  | $ | 12,573 |  |  | $ | 924 |
2027 |  | 22,307 |  |  | 1,875 |
2028 |  | 16,949 |  |  | 1,926 |
2029 |  | 14,615 |  |  | 1,979 |
2030 |  | 7,922 |  |  | 2,034 |
Thereafter |  | 64,752 |  |  | 86,111 |
Total future minimum lease payments |  | 139,118 |  |  | 94,849 |
Less: Imputed interest |  | (41,270) |  |  | (63,167) |
Total |  | $ | 97,848 |  |  | $ | 31,682 |

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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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