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Leases
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Leases Leases
The Company's lease portfolio consists of real estate and co-location agreements in the United States and internationally. The real estate leases include leases for office space and have remaining lease terms of up to 7.6 years. Certain of these leases contain options that allow the Company to extend or terminate the lease agreement. The Company's co-location leases have remaining lease terms of up to 7.9 years. All of the Company's leases are classified as operating leases.
During the three months ended December 31, 2023, the Company entered a lease agreement (the Lisbon Lease) for 6,000 square meter of office space in Lisbon, Portugal. The Lisbon Lease has an accounting lease term of 84 months plus an option to renew for 12 months at 100% market rate. At lease commencement, it was not reasonably certain the renewal option will be exercised. The total fixed payments per the terms of the Lisbon Lease are approximately $15.7 million plus the Company's share of operating costs for the maturity of the lease.
On July 6, 2021, the Company entered a triple net lease (the Austin Lease) for 128,195 square feet of office space in Austin, Texas. The Austin Lease has an accounting lease term of 121 months plus two options to renew for five years each at 100% market rate. At lease commencement, it was not reasonably certain that these renewal options will be exercised. The total fixed payments per the terms of the Austin Lease are approximately $46.2 million plus the Company's share of operating costs for the maturity of the lease.
During the year ended December 31, 2021, the reasonably certain holding period for three real estate leases was modified as the Company became reasonably certain that the renewal options for these agreements would be exercised. The reasonably certain holding period for these leases increased by their respective renewal term
lengths, which amounted to an additional undiscounted cash payment of $53.8 million based on the terms of their existing agreements.
The Company subleased one of its leased office spaces. The lease term of the sublease terminated during the year ended December 31, 2021. Sublease income, which is recorded as a reduction of rent expense, was $1.1 million for the year ended December 31, 2021.
The components of lease cost related to the Company's operating leases included in the consolidated statements of operations were as follows:
Year Ended December 31,
202320222021
(in thousands)
Operating lease cost$44,792 $36,332 $25,091 
Sublease income— — (1,096)
Total lease cost$44,792 $36,332 $23,995 
Variable lease cost and short-term lease cost for the years ended December 31, 2023, 2022, and 2021, were not material.
As of December 31, 2023, the Company had $35.9 million of total undiscounted future payments under operating leases that have not yet commenced, which were not included on the consolidated balance sheet. These operating leases will commence between January 2024 and July 2026 and have an average lease term of 3.7 years.
As of December 31, 2023 and 2022, the weighted-average remaining term of the Company’s operating leases was 4.9 years and 5.4 years, respectively, and the weighted-average discount rate used to measure the present value of the operating lease liabilities was 4.6% and 4.0%, respectively.

Maturities of the operating lease liabilities as of December 31, 2023 are as follows:
December 31, 2023
(in thousands)
2024$43,921 
202534,212 
202630,003 
202725,654 
202814,479 
Thereafter21,302 
Total lease payments$169,571 
Less: Imputed interest$(17,730)
Total operating lease liabilities$151,841 
Maturities of the operating lease liabilities as of December 31, 2022 were as follows:
December 31, 2022
(in thousands)
2023$33,902 
202432,525 
202525,340 
202622,242 
202719,172 
Thereafter24,864 
Total lease payments$158,045 
Less: Imputed interest$(17,146)
Total operating lease liabilities$140,899 
Leases Leases
The Company's lease portfolio consists of real estate and co-location agreements in the United States and internationally. The real estate leases include leases for office space and have remaining lease terms of up to 7.6 years. Certain of these leases contain options that allow the Company to extend or terminate the lease agreement. The Company's co-location leases have remaining lease terms of up to 7.9 years. All of the Company's leases are classified as operating leases.
During the three months ended December 31, 2023, the Company entered a lease agreement (the Lisbon Lease) for 6,000 square meter of office space in Lisbon, Portugal. The Lisbon Lease has an accounting lease term of 84 months plus an option to renew for 12 months at 100% market rate. At lease commencement, it was not reasonably certain the renewal option will be exercised. The total fixed payments per the terms of the Lisbon Lease are approximately $15.7 million plus the Company's share of operating costs for the maturity of the lease.
On July 6, 2021, the Company entered a triple net lease (the Austin Lease) for 128,195 square feet of office space in Austin, Texas. The Austin Lease has an accounting lease term of 121 months plus two options to renew for five years each at 100% market rate. At lease commencement, it was not reasonably certain that these renewal options will be exercised. The total fixed payments per the terms of the Austin Lease are approximately $46.2 million plus the Company's share of operating costs for the maturity of the lease.
During the year ended December 31, 2021, the reasonably certain holding period for three real estate leases was modified as the Company became reasonably certain that the renewal options for these agreements would be exercised. The reasonably certain holding period for these leases increased by their respective renewal term
lengths, which amounted to an additional undiscounted cash payment of $53.8 million based on the terms of their existing agreements.
The Company subleased one of its leased office spaces. The lease term of the sublease terminated during the year ended December 31, 2021. Sublease income, which is recorded as a reduction of rent expense, was $1.1 million for the year ended December 31, 2021.
The components of lease cost related to the Company's operating leases included in the consolidated statements of operations were as follows:
Year Ended December 31,
202320222021
(in thousands)
Operating lease cost$44,792 $36,332 $25,091 
Sublease income— — (1,096)
Total lease cost$44,792 $36,332 $23,995 
Variable lease cost and short-term lease cost for the years ended December 31, 2023, 2022, and 2021, were not material.
As of December 31, 2023, the Company had $35.9 million of total undiscounted future payments under operating leases that have not yet commenced, which were not included on the consolidated balance sheet. These operating leases will commence between January 2024 and July 2026 and have an average lease term of 3.7 years.
As of December 31, 2023 and 2022, the weighted-average remaining term of the Company’s operating leases was 4.9 years and 5.4 years, respectively, and the weighted-average discount rate used to measure the present value of the operating lease liabilities was 4.6% and 4.0%, respectively.

Maturities of the operating lease liabilities as of December 31, 2023 are as follows:
December 31, 2023
(in thousands)
2024$43,921 
202534,212 
202630,003 
202725,654 
202814,479 
Thereafter21,302 
Total lease payments$169,571 
Less: Imputed interest$(17,730)
Total operating lease liabilities$151,841 
Maturities of the operating lease liabilities as of December 31, 2022 were as follows:
December 31, 2022
(in thousands)
2023$33,902 
202432,525 
202525,340 
202622,242 
202719,172 
Thereafter24,864 
Total lease payments$158,045 
Less: Imputed interest$(17,146)
Total operating lease liabilities$140,899