During the year ended December 31, 2025, the Company committed to a plan (the “2025 Restructure”) to realign the Company’s current workforce with the Company’s on-going cost structure. The decision to implement the 2025 Restructure is based on continuous improvement efforts to optimize operational costs and efficiencies across fiscal 2026 intended to better position the Company for continued profitable revenue growth.

In connection with the 2025 Restructure, restructuring charges are primarily comprised of severance payments, professional services, contract costs, accelerated depreciation of internal use software and other related costs. Within the consolidated balance sheet, the liability for severance benefits and professional services of $5.4 million as of December 31, 2025 is recorded to other current liabilities and $0.6 million of contract costs are recorded in accrued expenses. These charges were recorded within Restructuring Charges on the accompanying consolidated statement of operations.

The Company estimates to incur additional costs relating to the 2025 Restructure of approximately $3.0 million to $6.6 million through fiscal 2026 relating to relocation and retention benefits and professional services costs. The additional expenses the Company expects to incur are subject to assumptions, and actual expenses may differ from the estimates disclosed above.

The following table summarizes the activities related to the 2025 Restructure:


	As of December 31, 2025
(in thousands)	Workforce reduction			Contract Costs and Internal Use Software			Professional Services and Other Costs			Total
Liability, beginning of the period	$	0		$	0		$	0		$	0
Charges		5,368			766			1,300			7,434
Payments		(12	)		0			(1,060	)		(1,072	)
Non-cash items		(173	)		(218	)		0			(391	)
Liability, end of the period	$	5,183		$	548		$	240		$	5,971

During the fiscal year 2024, the Company commenced a restructuring plan (the “2024 Restructure”) which included a reduction of the Company’s workforce, exits of certain office leases, impairment of certain software development projects and contract costs intended to advance the Company’s ongoing commitment to profitable growth. The 2024 Restructure is substantially complete.

The following table summarizes the activities related to the 2024 Restructure:


	As of December 31, 2025												As of December 31, 2024
(in thousands)	Workforce reduction			Real Estate and Internal Use Software			Other Restructuring Charges			Total			Workforce reduction			Real Estate and Internal Use Software			Other Restructuring Charges			Total
Liability, beginning of the period	$	1,748		$	184		$	480		$	2,412		$	1,516		$	0		$	0		$	1,516
Additional charges		1,186			1,290			1,133			3,609			6,971			262			3,899			11,132
Real estate and internal-use software charges		0			0			0			0			0			3,533			0			3,533
Gain on lease termination		0			0			0			0			0			(988	)		0			(988	)
Payments		(2,759	)		(278	)		(1,613	)		(4,650	)		(6,674	)		(73	)		(3,419	)		(10,166	)
Non-cash items		0			(1,145	)		0			(1,145	)		(65	)		(2,550	)		0			(2,615	)
Liability, end of the period	$	175		$	51		$	0		$	226		$	1,748		$	184		$	480		$	2,412