v3.25.2
Leases
 6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Leases
7. Leases
We have operating leases primarily for office space. The leases have remaining lease terms of one to seven years, some of which include options to extend the lease for up to an additional six years. Our leases do not contain any residual value guarantee.
The following table presents various components of the lease costs (in thousands):
Operating LeasesThree Months Ended June 30,Six Months Ended June 30,
2025202420252024
Operating lease cost$3,181 $3,333 $6,289 $6,064 
Short-term lease cost153 116 283 217 
Variable lease cost1,228 949 2,531 1,860 
    Total lease cost
$4,562 $4,398 $9,103 $8,141 
The weighted-average remaining term of our operating leases and the weighted-average discount rate used to measure the present value of the operating lease liabilities are as follows:
Lease Term and Discount RateJune 30, 2025June 30, 2024
Weighted-average remaining lease term (in years)3.94.7
Weighted-average discount rate8.9 %9.0 %
The following table presents supplemental information arising from lease transactions. Cash payments related to short-term leases are not included in the measurement of the operating lease liabilities, and as such, are excluded from the amounts below (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
Supplemental Cash Flow Information:2025202420252024
Cash payments included in the measurement of operating lease liabilities, net of tenant allowance receipts
$3,715 $498 $4,752 $4,001 
As of June 30, 2025, maturities of the operating lease liabilities are as follows (in thousands):
Operating Leases
Remainder of 2025$5,718 
202611,998 
20279,861 
20288,724 
20293,932 
Thereafter3,015 
Total lease payments43,248 
Less: imputed interest(7,225)
Present value of operating lease liabilities$36,023 
As of June 30, 2025, there were no material future payments related to signed leases that have not yet commenced.
In July 2025, we entered into lease agreements related to our headquarters in San Mateo. See Note 15—Subsequent Events