Leases |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases | Leases Our operating lease commitments are related to our corporate offices. As of December 31, 2025 and 2024, we had operating lease ROU assets of $13.2 million and $22.3 million, respectively, and operating lease liabilities of $19.5 million and $24.1 million, respectively. As of December 31, 2025 and 2024, our weighted average remaining lease term in years was 5.9 and 6.3, respectively, and our weighted average discount rate was 6.0% and 5.6%, respectively. In connection with the May 2025 and October 2025 restructuring plans, we announced the closure of our Santa Clara and Portland offices. As a result, during the year ended December 31, 2025, we recorded a full impairment of $7.3 million, consisting of $6.4 million impairment of ROU assets and $0.9 million impairment of leasehold improvements, which was classified as general and administrative expense on our consolidated statements of operations. Our intent and ability to sublease the offices as well as the local market conditions were factored in when measuring the amount of impairment. For further information on the May 2025 and October 2025 restructuring plans, see “Note 15. Restructuring Charges.” During the year ended December 31, 2025, we obtained $1.6 million of ROU assets in exchange for lease liabilities primarily due to the commencement of a two year operating lease for a corporate office space in the United Kingdom. During the years ended December 31, 2025, 2024 and 2023, operating lease expense, net of immaterial sublease income, was $4.9 million, $7.5 million and $7.6 million, respectively. During the years ended December 31, 2025, 2024 and 2023, variable lease cost and short-term lease cost were immaterial. The following table presents the future minimum lease payments and reconciliation to total operating lease liabilities (in thousands):
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