Leases |
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| Leases | 8. Leases The Company leases its corporate headquarters of 21,020 rentable square feet in accordance with a non-cancellable operating lease agreement as amended and effective in January 2017, and the Company entered into a further amendment on September 20, 2023 to exercise the extension option for an additional 60 months through June 30, 2029, with an option to further extend for an additional 60 months. The Company also leased an additional office space of 6,003 rentable square feet for its Seattle office in accordance with a non-cancellable operating lease agreement that expired in March 2025. The extension options of such agreements were not included in the determination of the lease terms. On December 20, 2024, the Company entered into a non-cancellable 80-month operating lease agreement for its new Seattle office space of 6,709 rentable square feet, with the lease commencement date on May 1, 2025 (the "New Seattle Lease"). For the three and six months ended June 30, 2026 and 2025, a summary of the Company’s lease information is shown below:
(1) The New Seattle Lease resulted in the recognition of $1,153 in right-of-use assets obtained in exchange for operating lease liabilities as of May 1, 2025. The Company applied a 6.0% discount rate, its estimated incremental borrowing rate for similar secured assets, to determine the present value of the lease payments, as the implicit rate in the lease is not readily determinable. The discount rate was based on information available as of the lease commencement date.
As of June 30, 2026 and December 31, 2025, the weighted average remaining operating lease term was 4.2 years and 4.6 years, respectively, and the weighted average discount rate used to measure the operating lease liabilities was 8.09% and 8.23%, respectively. As of June 30, 2026, scheduled future maturities and present value of the operating lease liabilities are as follows:
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