Note 14 — Restructuring Costs (Credits)

In January 2025, the Company implemented a reduction in its workforce of approximately 6% across various geographies and functions to better align its cost structure with the revenue outlook for the year. The Company recorded $4.2 million of severance and related costs for this action during the fourth quarter of 2024 and $1.8 million during 2025. All costs had been paid as of March 31, 2026.

In February 2026, the Company implemented a reduction in its workforce of approximately 8% across various geographies and functions to better align its cost structure with the revenue outlook for the year. The Company recorded $8.8 million of severance and related costs for this action during the fourth quarter of 2025, $1.2 million during the first quarter of 2026, and $2.0 million during the second quarter of 2026. During the third quarter of 2026, the Company recorded a reversal of severance and related costs of $0.6 million to reflect changes to the cost expectations regarding the reduction in the workforce. In addition, the Company incurred approximately $1.1 million for contract termination costs during the fourth quarter of 2025, $0.6 million during the first quarter of 2026, and $0.1 million during the third quarter of 2026. The Company also approved plans to close certain of its smaller offices both inside and outside the United States, resulting in a non-cash charge of $0.4 million for accelerated ROU asset amortization in the first quarter of 2026. The Company expects the majority of the accrued restructuring and related costs as of September 30, 2026 to be paid by the end of the first quarter of 2027.