The Company has non-cancellable contractual obligations and commitments primarily related to operating lease agreements for its office facilities in San Francisco, California, as well as in India, which expire at various dates through November 2028. For its primary operating leases, the Company has the option to extend the lease terms.

As of June 30, 2026, future lease payments under the Company’s operating lease agreements were as follows (in thousands):


Remainder of 2026	$	601
2027		771
2028		503
Total future lease payments		1,875
Less interest		(102	)
Present value of lease liabilities	$	1,773

On June 30, 2025, the Company entered into an unsecured letter of credit of $30.0 million with Citizens Bank in favor of two carrier partners. The letter of credit could not be drawn upon in the normal course of business and could only be drawn upon automatically to fund the letter of credit obligation if the carrier partner called on the letter of credit. If there was a draw on the letter of credit, the Company was obligated to reimburse the bank in cash, in immediately available funds, within one business day following notice of such draw from the lender. The letter of credit expired in June 2026.