v3.25.1
Leases
3 Months Ended
Mar. 31, 2025
Leases [Abstract]  
Leases Leases
The Company leases certain offices, computer equipment and its shared cloud platform facilities under non-cancelable operating leases for varying periods through 2030. While under the Company's lease agreements the Company has options to extend its certain leases, the Company has not included renewal options in determining the lease terms for calculating its lease liabilities, as these options are not reasonably certain of being exercised. Lease expense was $4.2 million and $3.8 million for the three months ended March 31, 2025 and 2024, respectively.
Supplemental cash flow information related to operating leases was as follows:
Three Months Ended
March 31,
20252024
(in thousands)
Cash payments included in the measurement of lease liabilities$3,616 $3,621 
Lease liabilities arising from obtaining right-of-use assets$3,226 $12,347 
The weighted average remaining lease term and the weighted average discount rate of the Company's operating leases were as follows:
March 31,
2025
December 31,
2024
Weighted average remaining lease term (years)4.24.2
Weighted average discount rate7.5 %7.4 %
Maturities of the Company's operating lease liabilities as of March 31, 2025 are as follows:
(in thousands)
2025 (remaining nine months)$10,856 
202613,554 
202713,560 
202810,339 
20296,649 
2030 and thereafter2,102 
Total minimum lease payments57,060 
Less: interest(8,417)
Present value of net minimum lease payments$48,643