Restructuring Charges

12 Months Ended

Dec. 31, 2025

Restructuring and Related Activities [Abstract]

18. RESTRUCTURING CHARGES

Starting in the fourth quarter of fiscal 2022, the Company implemented measures to reduce its operating expense growth rate due to economic conditions, including consolidating its office space utilization, performing a strategic review

of its content portfolio, reducing outside services expenses, and slowing its year-over-year headcount expense growth rate through a workforce reduction and limiting new hires, among other measures.

Restructuring charges are recorded as follows (in thousands):


	Year Ended December 31, 2025
	Facilities Exit Costs		Asset Impairment Charges		Total


Research and development	$	194	$	2,133	$	2,327
Sales and marketing	—		175		175
General and administrative	—		562		562
Total restructuring charges	$	194	$	2,870	$	3,064


	Year Ended December 31, 2024
	Employee Terminations		Facilities Exit Costs		Asset Impairment Charges		Total
Cost of revenue, platform	$	(3)	$	—	$	—	$	(3)
Cost of revenue, devices	1		—		5		6
Research and development	368		98		(603)		(137)
Sales and marketing	697		719		24,641		26,057
General and administrative	(116)		117		5,075		5,076
Total restructuring charges	$	947	$	934	$	29,118	$	30,999


	Year Ended December 31, 2023
	Employee Terminations		Facilities Exit Costs		Assets Impairment Charges		Total
Cost of revenue, platform	$	1,164	$	1	$	65,867	$	67,032
Cost of revenue, devices	524		6		2,793		3,323
Research and development	31,160		1,320		78,011		110,491
Sales and marketing	29,786		517		83,411		113,714
General and administrative	20,531		1,683		39,320		61,534
Total restructuring charges	$	83,165	$	3,527	$	269,402	$	356,094

The asset impairment charges for the year ended December 31, 2025 are primarily comprised of $2.9 million of operating lease right-of-use assets impairment. The asset impairment charges for the year ended December 31, 2024 are primarily comprised of $22.6 million of operating lease right-of-use assets impairment and $7.0 million of property and equipment impairment, partially offset by $0.5 million of adjustments to other long-term liabilities and assets. The asset impairment charges for the year ended December 31, 2023 are primarily comprised of $131.6 million of operating lease right-of-use assets impairment, $72.3 million of property and equipment impairment, and $65.5 million of content assets impairment.

A reconciliation of the beginning and ending balance of employee termination restructuring charges and facilities exit costs, which are included in Accrued liabilities in the consolidated balance sheets, is as follows (in thousands):


	December 31, 2025				December 31, 2024
	Facilities Exit Costs		Total		Employee Terminations		Facilities Exit Costs		Total
Beginning balance	$	1,381	$	1,381	$	12,661	$	1,198	$	13,859
Restructuring charges incurred	194		194		947		934		1,881
Payments made	(349)		(349)		(13,608)		(751)		(14,359)
Ending balance	$	1,226	$	1,226	$	—	$	1,381	$	1,381