In January 2026, the Company announced a reduction of its global workforce by approximately 350 employees to reduce operating expenses and optimize the organizational structure in support of long-term growth and in light of AI-driven efficiency improvements. The reduction in workforce is expected to be substantially complete during 2026, subject to local law and consultation requirements.

As a result of the reduction in workforce, the Company estimates that it will incur approximately $30.0 million in total restructuring charges, of which $12.8 million was recorded in the fourth quarter of 2025, and $14.9 million was recorded in the first quarter of 2026, for a cumulative total of $27.7 million. The restructuring charges consist primarily of severance payments, employee benefits and related costs. The $7.2 million remaining restructuring liability is recorded as part of accrued expenses and other current liabilities within the Company’s Consolidated Balance Sheet and the restructuring charges are recorded to restructuring within the consolidated statement of operations as of March 31, 2026.


	March 31, 2026
	(In thousands)
Beginning balance	$	12,806
Accruals and adjustments	14,923
Cash payments	(20,504)
Accrued balance as of March 31, 2026	$	7,225