Leases |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases | Leases The Company leases office space under non-cancellable operating leases for its corporate headquarters in Austin, Texas, in two adjacent buildings under separate lease agreements. Pursuant to the first agreement, the Company leases office space with an initial term that expires on April 30, 2028, with the option to extend the lease for an additional ten-year term. The Company is not reasonably certain to exercise the renewal under this agreement, therefore no amount related to this option is recognized as part of lease liabilities or right of use assets. Pursuant to the second agreement, the Company leases office space with lease terms of approximately ten years, with an option to extend the lease on the second building from to ten years. The Company also leases office space in other U.S. cities located in Nebraska, Iowa and North Carolina. Internationally, the Company leases offices in India and Australia, and from time to time, employees may work from flexible office spaces in the U.S. and internationally. During the three months ended June 30, 2025, the Company recorded a $2.4 million lease liability related to the renewal of a U.S. based office lease agreement. The Company recognized a corresponding right-of-use asset of $2.1 million, net of $0.3 million in tenant lease improvements provided. These additions did not involve cash outlays and, therefore, are not reflected in the condensed consolidated statement of cash flows for the six months ended June 30, 2025. The Company believes its current facilities are adequate to meet its current needs and that suitable additional or alternative space will be available on commercially reasonable terms as needed to support future growth. Maturities of the Company's operating lease liabilities for lease terms in excess of one year at June 30, 2025 were as follows:
The operating lease liabilities include $11.2 million in optional lease renewals where the Company is reasonably certain of exercising those options. During the six months ended June 30, 2025 and 2024, no impairment charges related to right of use or other lease related assets were recorded.
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