v3.26.1
Operating Leases
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Operating Leases Operating Leases
The Company leases co-location space at data center facilities and, to a lesser extent, corporate offices, all of which are classified as operating leases. Operating leases generally have an initial lease term ranging from two to thirteen years, which includes any option to renew or terminate the lease when it is reasonably certain that the option will be exercised.
The components of operating lease expense were as follows:
Three Months EndedSix Months Ended
June 30,June 30,
2026202520262025
Operating lease expense$40,317 $29,851 $74,016 $56,331 
Variable lease expense4,247 2,329 8,348 4,761 
Short-term lease expense— 119 20 185 
Total operating lease expense
$44,564 $32,299 $82,384 $61,277 
Weighted-average remaining lease term and discount rate were as follows:
June 30, 2026December 31, 2025
Weighted-average remaining lease term (in years)5.83.4
Weighted-average discount rate6%6%
Maturities of operating lease liabilities as of June 30, 2026 were as follows:
2027$149,859 
202898,990 
202969,048 
203057,633 
203153,581 
Thereafter143,292 
Total undiscounted operating lease liabilities
572,403 
Less: Imputed interest(93,316)
Total present value of operating lease liabilities
479,087 
Less: Current portion of operating lease liabilities
(126,233)
Operating lease liabilities, long-term
$352,854 
As of June 30, 2026, the Company had $2,759,287 of estimated undiscounted fixed payment obligations primarily for leases of co-location space at data center facilities that have not yet commenced and were not included in the condensed consolidated balance sheets. These leases are scheduled to commence between July 2026 and June 2028, and have a weighted-average lease term of 11.2 years.
Operating Leases Operating Leases
The Company leases co-location space at data center facilities and, to a lesser extent, corporate offices, all of which are classified as operating leases. Operating leases generally have an initial lease term ranging from two to thirteen years, which includes any option to renew or terminate the lease when it is reasonably certain that the option will be exercised.
The components of operating lease expense were as follows:
Three Months EndedSix Months Ended
June 30,June 30,
2026202520262025
Operating lease expense$40,317 $29,851 $74,016 $56,331 
Variable lease expense4,247 2,329 8,348 4,761 
Short-term lease expense— 119 20 185 
Total operating lease expense
$44,564 $32,299 $82,384 $61,277 
Weighted-average remaining lease term and discount rate were as follows:
June 30, 2026December 31, 2025
Weighted-average remaining lease term (in years)5.83.4
Weighted-average discount rate6%6%
Maturities of operating lease liabilities as of June 30, 2026 were as follows:
2027$149,859 
202898,990 
202969,048 
203057,633 
203153,581 
Thereafter143,292 
Total undiscounted operating lease liabilities
572,403 
Less: Imputed interest(93,316)
Total present value of operating lease liabilities
479,087 
Less: Current portion of operating lease liabilities
(126,233)
Operating lease liabilities, long-term
$352,854 
As of June 30, 2026, the Company had $2,759,287 of estimated undiscounted fixed payment obligations primarily for leases of co-location space at data center facilities that have not yet commenced and were not included in the condensed consolidated balance sheets. These leases are scheduled to commence between July 2026 and June 2028, and have a weighted-average lease term of 11.2 years.