Leases

12 Months Ended

Dec. 31, 2023

Our primary operating lease commitments at December 31, 2023 are related to our corporate headquarters and offices in the United States and internationally. As of December 31, 2023 and 2022, we had operating lease ROU assets of $25.1 million and $18.8 million, respectively, and operating lease liabilities of $24.9 million and $20.9 million, respectively. As of December 31, 2023 and 2022, our weighted average remaining lease term was 3.9 years and 4.0 years, respectively, and our weighted average discount rate was 5.8% and 5.2%, respectively.

During the year ended December 31, 2023, we extended our existing lease agreement related to our corporate headquarters in Santa Clara and reassessed lease terms related to office spaces internationally in India, resulting in the recording of $12.4 million of right of use assets in exchange for lease liabilities.

During the years ended December 31, 2023, 2022 and 2021, operating lease expense, net of immaterial sublease income, was approximately $7.6 million, $7.3 million and $7.1 million, respectively. During the years ended December 31, 2023, 2022 and 2021, variable lease cost and short-term lease cost were immaterial.

The following table presents the aggregate future minimum lease payments and reconciliation to operating lease liabilities as of December 31, 2023 (in thousands):


	December 31, 2023
2024	$	8,084
2025	6,605
2026	5,922
2027	5,497
2028	1,898
Thereafter	—
Total future minimum lease payments	28,006
Less imputed interest	(3,120)
Total operating lease liabilities	$	24,886