v3.25.3
Leases
 9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Operating Leases
8. Leases
The Company leases certain office facilities, managed data center facilities and vehicles under non-cancelable operating lease arrangements for its U.S. and international locations that expire on various dates through 2034.
Upon completing the Acquisition, the Company classified the acquired leases as operating leases under U.S. GAAP and performed a measurement of the lease liabilities as of the Acquisition date. The right-of-use asset was measured at the same amount, adjusted to reflect any favorable and unfavorable market adjustments. The Company elected to apply the short-term lease measurement and recognition exemption to acquired leases that had a remaining lease term of 12 months or less as of the Acquisition date, as well as its existing election not to separate the lease and nonlease components for its real estate leases.
The following table summarizes assets and liabilities related to the Company’s operating leases:
 Condensed Consolidated Balance Sheets LocationSeptember 30, 2025December 31, 2024
(In thousands)
Operating lease assetsOperating lease right-of-use assets, net$24,601 $15,047 
Current liabilitiesAccrued and other current liabilities$8,463 $4,033 
Non-current liabilitiesOperating lease liabilities, non-current$18,287 $11,783 
The following table presents the components of the Company’s total lease expense:
Condensed Consolidated StatementsThree Months Ended September 30,Nine Months Ended September 30,
 of Operations Location2025202420252024
(In thousands)
Operating lease cost:
   Fixed lease costs Cost of revenue and operating expenses$2,977 $1,339 $8,175 $3,825 
   Variable lease costsOperating expenses618 74 1,098 270 
   Short-term lease costsOperating expenses282 141 1,102 386 
   Lease impairment cost (1)
Impairment charges— — 99 — 
   Sublease incomeOperating expenses(197)— (361)— 
Finance lease cost:
   DepreciationCost of revenue— — — 226 
   Interest Interest expense— — — 3 
Total lease cost$3,680 $1,554 $10,113 $4,710 
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(1)During the nine months ended September 30, 2025, the Company exited one of its office locations, resulting in a non-cash charge of $0.1 million to impair the associated right-of-use asset, recorded within impairment charges.
As of September 30, 2025, the maturities of the Company’s lease liabilities under operating leases were as follows:
YearOperating Leases
(In thousands)
Remainder of 2025$2,959 
20269,868 
20278,016 
20285,722 
20293,286 
Thereafter1,944 
Total minimum payments required$31,795 
Less: imputed interest5,045 
Total present value of lease liabilities$26,750 

As of September 30, 2025, the Company entered into three new operating lease agreements that have not yet commenced. These lease agreements terminate between 2029-2034 with undiscounted future lease payments of approximately $17.8 million, relating to its office locations in the United States, France, and Germany.
The following table summarizes weighted-average lease terms and discount rates for the Company’s operating leases:
September 30, 2025December 31, 2024
Weighted-average remaining lease term (in years)3.54 years4.40 years
Weighted-average discount rate9.91%9.68%