The following table summarizes our non-cancelable contractual commitments as of June 30, 2026 (in thousands):


	Total		Remainder of 2026		2027‑2028		2029‑2030		Thereafter
Operating leases (1)	$	92,020	$	16,900	$	49,741	$	17,971	$	7,408
Purchase commitments (2)	1,420,751		187,665		823,223		409,863		—
Convertible note principal and interest (3)	2,277,724		567,724		1,020,000		690,000		—
Equity investments (4)	100,000		—		100,000		—		—
Total	$	3,890,495	$	772,289	$	1,992,964	$	1,117,834	$	7,408

(1) Operating leases consist of obligations for real estate, including leases that are not yet commenced or reflected on our consolidated balance sheet with future minimum lease payments of $0.2 million. These leases will commence in 2026 with lease terms of approximately one year.

(2) Consists of purchase commitments with original terms greater than one year. The substantial majority of these commitments are related to agreements with our data center hosting providers.

(3) Convertible notes due 2026, 2027, and 2030. See Note 6, "Borrowings," above for further discussion.

(4) Consists of a binding obligation to acquire $100 million of shares in Appsflyer, subject to certain closing conditions and adjustments. We expect to complete this purchase by the end of 2027.