Subsequent Events

9 Months Ended

Sep. 30, 2024

Subsequent Events [Abstract]

Subsequent Events

18. Subsequent Events

In October 2024, the Company started moving employees that remained at its current headquarters in San Mateo to its new campus in San Mateo, and the move is expected to be completed during the fourth quarter of 2024. As of September 30, 2024, the carrying value of the operating lease right-of-use asset and the related leasehold improvements, and the associated lease liability as it relates to the buildings the Company is exiting, is approximately $143.0 million and $126.0 million, respectively, with remaining lease terms ranging between three and seven years. While the exit of the buildings is an impairment trigger in the fourth quarter of 2024, the Company is still in the process of assessing its real estate needs for future periods which will inform its decision as to whether or not to sublease these buildings for their respective remaining terms. As a result, the Company’s impairment assessment is ongoing and will be completed in the fourth quarter of 2024.