v3.26.1
Leases (Tables)
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Schedule of Lease, Cost
The weighted average remaining lease terms and discount rates as of June 30, 2026 and December 31, 2025 were as follows:

June 30, 2026December 31, 2025
Operating leases
Finance Leases(1)
Operating leases
Finance Leases(1)
Remaining lease term5.7 years2.9 years5.4 years2.5 years
Discount rate7.0 %12.9 %6.9 %12.6 %
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(1) Includes lease financing obligation costs.
The following table presents the components of lease expense (in thousands):

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Finance lease costs
Depreciation expense(1)
$2,473 $2,006 $4,809 $4,846 
Interest expense$1,172 $778 $2,271 $1,533 
Lease financing obligation costs
Depreciation expense(1)
$213 $233 $426 $842 
Interest expense$8 $74 $21 $172 
Operating lease costs
Rental expense related to lease components$2,263 $1,283 $3,908 $2,469 
Rental expense related to non-lease components(2)
876 1,126 2,108 2,226 
Variable lease costs1,206 1,225 2,114 2,317 
Total operating lease costs$4,345 $3,634 $8,130 $7,012 
Total included in cost of revenue$4,300 $3,359 $8,044 $6,545 
Total included in general and administrative expense$45 $275 $86 $467 
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(1) Substantially all of the depreciation expense on assets acquired through the Company’s finance leases and lease financing obligations is included in cost of revenue in its condensed consolidated statements of operations and comprehensive loss.
(2) Non-lease components represent non-tangible utilities and services associated with the Company’s co-location lease agreements and are not recorded on the Company’s condensed consolidated balance sheets. The Company used judgment and third-party data in determining the stand-alone price for allocating consideration to lease and non-lease components under these lease agreements, such as the price of utilities as compared to its tangible data center footprint within each facility.
The following table presents supplemental cash flow information relating to the Company’s leases (in thousands):

Six Months Ended June 30,
20262025
Operating cash flows
Cash paid for interest on finance lease and lease financing obligations$2,292 $1,694 
Cash paid for operating lease liabilities$3,747 $2,623 
Non-cash items
Equipment acquired through finance leases$19,108 $14,064 
Right-of-use assets obtained in exchange for operating lease obligations$13,082 $12,023 
Schedule of Finance Lease, Liability, Fiscal Year Maturity
The future minimum commitments for finance leases and lease financing obligations as of June 30, 2026 were as follows (in thousands):

Year Ending December 31,Finance leasesLease financing obligationsTotal
Remainder of 2026
$10,809 $191 $11,000 
202718,794 — 18,794 
202811,068 — 11,068 
20299,896 — 9,896 
20304,337 — 4,337 
Thereafter628 — 628 
Total future minimum lease and financing commitments55,532 191 55,723 
Less imputed interest(9,007)(3)(9,010)
Total finance lease and lease financing obligation liabilities$46,525 $188 $46,713 
Schedule of Other Commitments
As of June 30, 2026, the Company's future minimum obligations for operating leases and non-cancellable contractual commitments related to non-lease components were as follows (in thousands):

Year Ending December 31,Operating leasesNon-lease componentsTotal
Remainder of 2026
$3,530 $1,609 $5,139 
20276,981 3,068 10,049 
20287,722 3,074 10,796 
20297,061 2,555 9,616 
20306,183 1,352 7,535 
Thereafter12,714 109 12,823 
Total future minimum operating lease and non-lease commitments44,191 $11,767 $55,958 
Less imputed interest(8,467)
Total liability$35,724 
Schedule of Lessee, Operating Lease, Liability, to be Paid, Maturity
As of June 30, 2026, the Company's future minimum obligations for operating leases and non-cancellable contractual commitments related to non-lease components were as follows (in thousands):

Year Ending December 31,Operating leasesNon-lease componentsTotal
Remainder of 2026
$3,530 $1,609 $5,139 
20276,981 3,068 10,049 
20287,722 3,074 10,796 
20297,061 2,555 9,616 
20306,183 1,352 7,535 
Thereafter12,714 109 12,823 
Total future minimum operating lease and non-lease commitments44,191 $11,767 $55,958 
Less imputed interest(8,467)
Total liability$35,724