Sale of Assets Held for Sale |
3 Months Ended |
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Mar. 31, 2025 | |
| Discontinued Operations and Disposal Groups [Abstract] | |
| Sale of Assets Held for Sale | Sale of Assets Held for Sale In September 2022, following an evaluation of our office space and business requirements, we determined that our operational headquarters property at 9900 Spectrum Drive in Austin, Texas was no longer aligned with operational needs due to an increased shift to remote work. As a result, we initiated plans to sell the property consisting of land, a building and building improvements, and classified these assets as held for sale. On September 24, 2024, we entered into a binding purchase and sale agreement for this property with Round Rock Independent School District. The sale was completed on March 31, 2025, and we received net cash proceeds of approximately $37.1 million after deducting selling costs such as brokerage commissions, title fees, and asset disposal costs. Prior to completion of the sale, the property had a carrying value of $22.7 million. As a result of the sale, we recognized a gain of $14.3 million. This gain is recorded in income from operations on the condensed consolidated statement of operations. As of March 31, 2025, the property is fully derecognized from the balance sheet, and no amounts remain to be classified as held for sale.
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