v3.26.1
Leases
3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Leases Leases
The Company leases certain offices, computer equipment and its shared cloud platform facilities under non-cancelable operating leases for varying periods through 2034. While under the Company's lease agreements the Company has options to extend its certain leases, the Company has not included renewal options in determining the lease terms for calculating its lease liabilities, as these options are not reasonably certain of being exercised. Lease expense was $3.2 million and $4.2 million for the three months ended March 31, 2026 and 2025, respectively.
Supplemental cash flow information related to operating leases was as follows:
Three Months Ended
March 31,
20262025
(in thousands)
Cash payments included in the measurement of lease liabilities$3,007 $3,616 
Lease liabilities arising from obtaining right-of-use assets$2,666 $3,226 
The weighted average remaining lease term and the weighted average discount rate of the Company's operating leases were as follows:
March 31,
2026
December 31,
2025
Weighted average remaining lease term (years)5.65.8
Weighted average discount rate7.9%8.0%
Maturities of the Company's operating lease liabilities as of March 31, 2026 are as follows:
(in thousands)
2026 (remaining nine months)$8,089 
202713,073 
202812,922 
202911,254 
20306,149 
2031 and thereafter13,600 
Total minimum lease payments65,087 
Less: interest(12,858)
Present value of net minimum lease payments$52,229 
The operating lease payments in the table above exclude approximately $4.1 million of legally binding minimum lease payments for a lease signed during the three months ended March 31, 2026 that has yet to commence.