The Company has entered into various operating leases for its office space expiring between fiscal 2024 and 2036. Certain lease agreements contain an option for the Company to renew a lease for a term of up to five years. The Company considers these options, which may be elected at the Company’s sole discretion, in determining the lease term on a lease-by-lease basis.

On December 18, 2023, the Company entered into an Agreement of Sub-Sublease, with Spotify USA Inc., as Sub-Sublandlord for 85,666 square feet of office space in the building located at 4 World Trade Center, 150 Greenwich Street, New York, New York 10007 for use as additional office space.

The initial base rent is $442 per month on a triple net basis, increasing to $478 per month at the beginning of the sixth year of the lease term. Payment of rent will commence 20 months after commencement of the Sub-Sublease.

In lieu of a security deposit, the Company has provided an irrevocable stand-by letter of credit to the Sub-Sublandlord. This letter of credit acts as security for the faithful performance by the Company of all terms, covenants and conditions of the lease agreement. The cash collateral and deposits for the letters of credit have been recognized as restricted cash in the unaudited condensed consolidated balance sheets and totaled $2,735 as of September 30, 2024 and December 31, 2023.

In February 2024, the Company signed a lease with Bullitt Center LLC for 7,940 square feet of office space in Seattle, Washington. The term of the lease is 63 months beginning on March 1, 2024 and expiring on May 31, 2029.

In March 2024, the Company entered into the First and Second Amendments (“the Amendments”) to the Office Lease Agreement with 5704 Penn Office, LLC (the "Landlord") for office space located at Liberty East (the “Premise”) at 141 South Saint Clair Street, Pittsburgh, Pennsylvania, which, among other things, increased the leased square footage by 110,008 square feet to a total of 148,266 square feet beginning on August 1, 2025, with an expiration date of April 30, 2036. Under the Amendments, the monthly fixed base rent for the initial square footage increases to approximately $188 per month for the period commencing June 16, 2035 and ending April 30, 2036. The initial base rent of the additional square footage is approximately $394 per month and will increase by approximately 2% per annum, with the exception of the third and fifth years, which have increases of approximately 9% related to additional parking access. Under the terms of the Amendments, the Landlord will provide the Company with an

In May 2024, the Company signed a lease with Beijing Hengshi Huarong Holding Co., Ltd. for 16,314 square feet of office space in Beijing, China. The term of the lease is 39 months beginning on May 20, 2024 and expiring on July 15, 2027.

The following represents the components of lease cost for the three and nine months ended September 30, 2024 and 2023 along with supplemental disclosures of cash flow information, lease term and discount rate:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Operating lease cost	$	2,155	$	1,858	$	7,851	$	5,579
Short term lease cost	12		9		34		31
Variable lease cost	100		111		352		271
Total lease cost	$	2,267	$	1,978	$	8,237	$	5,881

Cash paid for amounts included in the measurement of lease liabilities	$	982	$	2,139	$	4,627	$	5,586
Right-of-use assets obtained in exchange for new operating lease liabilities	$	—	$	—	$	33,039	$	—
Right of use assets disposed or adjusted, modifying operating leases liabilities	$	—	$	—	$	1,303	$	1,397
Gain from termination of leases	$	—	$	—	$	8	$	—

The following table reconciles future minimum undiscounted rental commitments for operating leases to operating lease liabilities recorded on the Unaudited Condensed Consolidated Balance Sheet as of September 30, 2024:


Fiscal year
Remainder of 2024	$	1,054
2025	4,212
2026	9,160
2027	9,520
2028	9,299
Thereafter	48,482
Total undiscounted lease payments	$	81,727
Present value adjustment	(24,460)
Operating lease liabilities	$	57,267

Current lease liabilities of $2,616 and $3,944 are presented within Accrued expenses and other liabilities while non-current lease liabilities of $54,651 and $21,094 are presented within Long-term obligation under operating leases on the Unaudited Condensed Consolidated Balance Sheet as of September 30, 2024 and the Audited Consolidated Balance Sheet as of December 31, 2023, respectively.