v3.26.1
Leases
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Leases
6. Leases
The Company primarily leases facilities for office space under non-cancelable operating leases for its U.S. and international locations. As of June 30, 2026, non-cancelable leases expire on various dates between 2026 and 2043, some of which include options to extend the leases for up to 20 years.
On January 1, 2025, the Company commenced a sublease of a portion of its corporate headquarters to Relay, Inc., a related party. The sublease expires on December 31, 2029 and does not include any option to renew or purchase, nor does it include any residual value guarantees. As of June 30, 2026, total future minimum rent payments to the Company under this sublease were $9.5 million.
The components of operating lease expense recorded in the condensed consolidated statements of operations were as follows:
Three months ended June 30,Six months ended June 30,
2026202520262025
(In thousands)
Operating lease cost$5,721 $5,788 $11,389 $11,448 
Sublease income(549)(545)(1,099)(1,090)
Total net lease cost$5,172 $5,243 $10,290 $10,358 
Other supplemental information related to operating leases were as follows:
Six months ended June 30,
20262025
Weighted average remaining lease term (in years)16.7517.75
Weighted average discount rate8.74 %8.75 %
Maturities of operating lease liabilities were as follows:
As of June 30,
2026
(In thousands)
2026 (remaining)$11,881 
202723,678 
202823,717 
202924,035 
203024,418 
Thereafter333,331 
Total lease payments441,060 
Less: imputed interest(217,408)
Total lease obligations223,652 
Less: current obligations(4,542)
Long-term lease obligations$219,110