Restructuring Related Charges |
6 Months Ended |
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Jun. 30, 2025 | |
Restructuring and Related Activities [Abstract] | |
Restructuring Related Charges | RESTRUCTURING RELATED CHARGES During 2024 and the first quarter of 2025, in alignment with our efforts to refine our business strategy and hone our focus, we reduced our expenses and prioritized investments in key initiatives expected to drive long-term, sustainable growth. In January 2024, we implemented a plan to restructure our Enterprise segment sales force and recognized an immaterial amount of restructuring related charges during the three months ended June 30, 2024 and $2.1 million during the six months ended June 30, 2024. Related cash payments approximated the expense amounts for each period and are reflected as cash used in operating activities within our Condensed Consolidated Statements of Cash Flows. In October 2024, we announced a commitment to further reduce overall expenses, focus our efforts, and prioritize future investments in key initiatives that we expect will drive long-term, sustainable growth. This initiative resulted in a reduction of our global workforce by approximately 9%, creating capacity for targeted investments, as well as incremental profitability. In the fourth quarter of 2024, we recognized restructuring related charges of $6.8 million, mainly consisting of personnel expenses such as severance and benefits, and paid $2.7 million. During the six months ended June 30, 2025, we recognized incremental charges of $0.7 million, made cash payments of $5.2 million, and also recognized a reversal of stock-based compensation expense of $1.6 million due to the forfeiture of RSUs and stock options.
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