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Subsequent Events
12 Months Ended
Dec. 31, 2023
Subsequent Events [Abstract]  
Subsequent Events
19. Subsequent Events
On February 7, 2024, the Company executed a lease assignment as sub-lessee pursuant to which the Company will sublease approximately 133,137 square feet of office space in San Mateo, California for a lease term of approximately five years (the “2024 Sub-Lessee Agreement”). Concurrent with the execution of the 2024 Sub-Lessee Agreement, the Company executed a sublease as sub-lessor pursuant to which it will sublease approximately 61,773 square feet of its San Mateo, California corporate headquarters to the sub-lessee for a lease term of approximately 3 years (the “2024 Sub-Lessor Agreement”). Both the 2024 Sub-Lessee Agreement and 2024 Sub-Lessor Agreement are contingent upon each respective landlord’s consent, amongst other contingencies.
The initial annual base rent under the 2024 Sub-Lessee Agreement ranges from approximately $8.0 million to $9.0 million over the lease term and the Company expects to take possession in the first half of 2024. The initial annual base rent due to the Company under the 2024 Sub-Lessor Agreement ranges from approximately $4.0 million to $5.0 million over the lease term and the Company expects to provide possession in the first half of 2024.