In February 2024, the Company implemented a reduction in its workforce of approximately 3% across various geographies and functions to better align its cost structure with the revenue outlook for the year. The Company recorded $0.7 million of severance and related costs for this action during the fourth quarter of 2023, and $2.8 million during the first quarter of 2024. The Company also recorded a restructuring charge of $3.8 million during the first quarter of 2024 related to closing one floor of its offices located in San Francisco, California, of which $3.2 million related to an impairment of a right-of-use asset and $0.6 million related to an impairment of leasehold improvements.

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, $1.5 million during the first quarter of 2025, and $0.4 million during the second quarter of 2025. The Company expects the majority of the accrued restructuring and related costs as of June 30, 2025 to be fully paid by the end of 2025.

The following table rolls forward the activity in the restructuring accrual for the January 2025 action for the six months ended June 30, 2025 (in thousands):


Accrual at December 31, 2024	$	4,132
Additional restructuring and related costs		1,930
Non-cash charge (included above)		(319	)
Cash payments		(4,491	)
Foreign currency effect		41
Accrual at June 30, 2025	$	1,293