Leases

6 Months Ended

Jun. 30, 2026

The Company has entered into operating leases primarily for office real estate in the United States and internationally. From time to time, the Company entered into new leases and renewed existing leases in the ordinary course of business to support its ongoing operations and growth. The Company’s lease payments consist primarily of fixed rental payments for the right to use the underlying leased assets over the lease terms for all leases.

Supplemental balance sheet information related to the Company’s operating leases is as follows (in thousands):


	As of
	June 30, 2026		December 31, 2025
Assets
Operating lease ROU assets, net	$	36,098	$	22,810
Liabilities
Operating lease liabilities, current	$	6,238	$	4,146
Operating lease liabilities, noncurrent	38,175		26,828
Total lease liabilities	$	44,413	$	30,974

Operating lease ROU assets, net are included in other assets; operating lease liabilities, current are included in accrued expenses and other current liabilities; and operating lease liabilities, non-current are included in other liabilities, on the condensed consolidated balance sheets.

The weighted-average remaining lease term and discount rates were as follows:


	As of
	June 30, 2026		December 31, 2025
Weighted average remaining lease term (in years)	6.2		6.4
Weighted average discount rate	6.7	%	7.1	%

The future minimum operating lease payments for each of the next five years and thereafter are as follows (in thousands):


Years ending December 31	Operating Leases
Remainder of 2026	$	4,057
2027	9,595
2028	9,514
2029	8,931
2030	5,945
Thereafter	16,262
Total future minimum lease payments	54,304
Less: Imputed interest	(9,891)
Total operating lease liabilities	$	44,413

In February 2026, the Company entered into lease agreements associated with the exercise of an existing expansion option at its headquarters in San Jose, California (the “HQ Expansions”). The lease terms commence at various dates between April 2026 and January 2027 and expire in November 2032. As of June 30, 2026, the HQ Expansions that have not yet commenced result in total estimated future undiscounted lease obligations of $11.7 million.