v3.26.3
Leases (Tables)
 9 Months Ended
Sep. 30, 2026
Leases [Abstract]  
Schedule of Lease, Cost
The weighted average remaining lease terms and discount rates as of September 30, 2026 and December 31, 2025 were as follows:

September 30, 2026December 31, 2025
Operating leases
Finance Leases(1)
Operating leases
Finance Leases(1)
Remaining lease term5.1 years3.2 years5.4 years2.5 years
Discount rate6.8 %12.5 %6.9 %12.6 %
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(1) Includes lease financing obligations.
The following table presents the components of lease expense (in thousands):

Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Finance lease costs
Depreciation expense(1)
$2,833 $2,033 $7,642 $6,879 
Interest expense$1,659 $792 $3,930 $2,325 
Lease financing obligation costs
Depreciation expense(1)
$212 $246 $638 $1,088 
Interest expense$2 $39 $23 $211 
Operating lease costs
Rental expense related to lease components$2,356 $1,779 $6,264 $4,248 
Rental expense related to non-lease components(2)
1,022 914 3,130 3,140 
Variable lease costs1,255 1,240 3,369 3,557 
Total operating lease costs$4,633 $3,933 $12,763 $10,945 
Total included in cost of revenue$4,603 $3,730 $12,647 $10,275 
Total included in general and administrative expense$30 $203 $116 $670 
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(1) Substantially all of the depreciation expense on assets acquired through the Company’s finance leases and lease financing obligations is included in cost of revenue in its condensed consolidated statements of operations and comprehensive loss.
(2) Non-lease components represent non-tangible utilities and services associated with the Company’s co-location lease agreements and are not recorded on the Company’s condensed consolidated balance sheets. The Company used judgment and third-party data in determining the stand-alone price for allocating consideration to lease and non-lease components under these lease agreements, such as the price of utilities as compared to its tangible data center footprint within each facility.
The following table presents supplemental cash flow information relating to the Company’s leases (in thousands):

Nine Months Ended September 30,
20262025
Operating cash flows
Cash paid for interest on finance lease and lease financing obligations$3,953 $2,626 
Cash paid for operating lease liabilities$5,775 $4,144 
Non-cash items
Equipment acquired through finance leases$29,095 $19,901 
Right-of-use assets obtained in exchange for operating lease obligations$19,595 $12,469 
Schedule of Finance Lease, Liability, Fiscal Year Maturity
The future minimum commitments for finance leases and lease financing obligations as of September 30, 2026 were as follows (in thousands):

Year Ending December 31,Finance leasesLease financing obligationsTotal
Remainder of 2026
$6,130 $43 $6,173 
202722,028 — 22,028 
202814,192 — 14,192 
202912,826 — 12,826 
20306,908 — 6,908 
Thereafter1,522 — 1,522 
Total future minimum lease and financing commitments63,606 43 63,649 
Less imputed interest(11,494)— (11,494)
Total finance lease and lease financing obligation liabilities$52,112 $43 $52,155 
Schedule of Other Commitments
As of September 30, 2026, the Company's future minimum obligations for operating leases and non-cancelable contractual commitments related to non-lease components were as follows (in thousands):

Year Ending December 31,Operating leasesNon-lease componentsTotal
Remainder of 2026
$2,531 $1,072 $3,603 
20279,657 4,318 13,975 
20289,927 3,904 13,831 
20297,882 2,548 10,430 
20306,183 1,352 7,535 
Thereafter12,713 109 12,822 
Total future minimum operating lease and non-lease commitments48,893 $13,303 $62,196 
Less imputed interest(8,255)
Total liability$40,638 
Schedule of Lessee, Operating Lease, Liability, to be Paid, Maturity
As of September 30, 2026, the Company's future minimum obligations for operating leases and non-cancelable contractual commitments related to non-lease components were as follows (in thousands):

Year Ending December 31,Operating leasesNon-lease componentsTotal
Remainder of 2026
$2,531 $1,072 $3,603 
20279,657 4,318 13,975 
20289,927 3,904 13,831 
20297,882 2,548 10,430 
20306,183 1,352 7,535 
Thereafter12,713 109 12,822 
Total future minimum operating lease and non-lease commitments48,893 $13,303 $62,196 
Less imputed interest(8,255)
Total liability$40,638