Leases |
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| Leases | 10. LEASES The Company leases real estate in the form of office space and data center facilities. Generally, at the inception of the contract, the term for real estate leases ranges from 2 to 17 years and the term for equipment leases is 1 to 3 years. Some real estate leases include options to renew that can extend the original term by 3 to 5 years. Operating lease costs are included within cost of revenues, exclusive of amortization and impairment of acquired technologies, research and development and general and administrative expenses on the consolidated statements of operations and comprehensive income (loss). The Company does not have any finance leases. The components of lease expense for the years ended December 31, 2025, 2024 and 2023 were as follows (in thousands):
The lease term and discount rate consisted of the following as of December 31, 2025, 2024 and 2023:
Supplemental cash flow and other information related to leases for the years ended December 31, 2025, 2024 and 2023 were as follows (in thousands):
The table below reconciles the undiscounted future minimum lease payments (in thousands) under noncancelable operating leases with terms of more than one year to the total operating lease liabilities recognized on the consolidated balance sheet as of December 31, 2025.
During the year ended December 31, 2025, the Company obtained operating lease assets in exchange for lease liabilities of $9.1 million, which includes $8.8 million of operating lease asset in connection with the acquisition of EvolutionIQ. During the year ended December 31, 2024, the Company obtained operating lease assets in exchange for lease liabilities of $1.8 million. |
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