v3.26.1
Finance Leases and Equipment Financing Obligations
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Finance Leases and Equipment Financing Obligations Finance Leases and Equipment Financing Obligations
The Company enters into finance leases and equipment financing obligations for servers and related equipment. The components of finance lease and equipment financing obligations expense were as follows:
Three Months EndedSix Months Ended
June 30,June 30,
2026202520262025
Finance leases:
Amortization of finance lease right-of-use assets$7,476 $1,325 $11,938 $2,612 
Interest expense on finance lease liabilities3,536 53 4,796 124 
Equipment financing obligations:
Depreciation of assets under equipment financing obligations6,712 — 12,347 — 
Interest expense on equipment financing obligations2,258 — 4,323 — 
Total finance lease and equipment financing obligations expense$19,982 $1,378 $33,404 $2,736 
Weighted-average remaining term and discount rate of finance lease liabilities and equipment financing obligations were as follows:
June 30, 2026December 31, 2025
Finance Leases
Weighted-average remaining term (in years)
5.90.9
Weighted-average discount rate6%7%
Equipment Financing Obligations
Weighted-average remaining term (in years)3.93.9
Weighted-average discount rate7%7%
Maturities of finance lease liabilities and equipment financing obligations of June 30, 2026 were as follows:
Finance LeasesEquipment Financing ObligationsTotal
2027$111,639 $24,778 $136,417 
2028107,530 50,329 157,859 
2029107,203 50,329 157,532 
203099,616 46,495 146,111 
203135,545 12,744 48,289 
Thereafter1,552 6,523 8,075 
Total undiscounted finance lease liabilities and equipment financing obligations
$463,085 $191,198 $654,283 
Less: Imputed interest(53,251)(23,312)(76,563)
Total present value of finance lease liabilities and equipment financing obligations
$409,834 $167,886 $577,720 
Less: Finance lease liabilities and equipment financing obligations, current
(89,836)(39,941)(129,777)
Finance lease liabilities and equipment financing obligations, long-term
$319,998 $127,945 $447,943 
As of June 30, 2026, the Company expects to receive servers and related equipment under finance leases with total estimated undiscounted payments of $281,566 that were not included in the condensed consolidated balance sheets. The leases commenced in July 2026 and have a weighted-average lease term of 4.9 years.