RESTRUCTURING |
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Jun. 30, 2026 | |||||||||||||||||||||||||||||||
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| RESTRUCTURING | 15. RESTRUCTURING On April 28, 2026, the Company announced its Board approved a global Value Creation Plan (the “Plan”) with the intention to become a more AI-enabled company, focusing investments on key growth opportunities and driving operational efficiency to better align the Company’s workforce and resources with its long-term strategic priorities. The Plan includes a reduction in force of approximately 170 employees along with a significant reduction of third party spend across the Company. In connection with the Plan, the Company recognized pre-tax charges of $1,713 and $7,883 during the three and six months ended June 30, 2026, respectively, which are also included in the general and administrative expense line of the condensed consolidated statements of comprehensive income (loss). These charges consist primarily of cash expenditures related to employee severance, notice pay, statutory termination indemnities, and other employee separation benefits. All related cash payments are expected to be made during 2026. Any changes to the estimates or timing of the Plan will be reflected in the Company’s results of operations in future periods. Total liabilities related to the Plan are recorded in the accrued salaries and benefits line of the condensed consolidated balance sheet at June 30, 2026. The following table summarizes the Company’s restructuring liability activities for the six months ended June 30, 2026:
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