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Subsequent Events
6 Months Ended
Jun. 30, 2024
Subsequent Events  
Subsequent Events

Note 13. Subsequent Events

On July 1, 2024, the Company entered into an agreement with a third-party global technology and business transformation partner to optimize and lower the cost of certain non-specialized technical functions. With this agreement, the Company will have tightly knit teams located across the globe and increased access to talent. As part of the transition into this new partnership, a portion of the Company's workforce will be in lower-cost geographies, resulting in estimated annual cost savings of approximately $10 million. The Company estimates it will incur approximately $2.6 million of transition costs and $0.9 million of severance for impacted employees that continue providing transition services to the Company. These costs will be recognized in the second half of 2024, but the cash payment will be deferred and paid ratably starting in July 2025 through the end of 2028.