XML 28 R18.htm IDEA: XBRL DOCUMENT v3.23.2
Restructuring
3 Months Ended
Jun. 30, 2023
Restructuring and Related Activities [Abstract]  
Restructuring

9. Restructuring

In June 2023, the Company approved a reduction in force intended to restructure and strategically align its workforce with the Company’s strategy and to reduce the Company’s operating costs. As a result, during the three months ended June 30, 2023, the Company recorded restructuring charges of $4.2 million within restructuring and other charges in the condensed consolidated statements of operations, of which $3.6 million was related to cash severance payments and benefits continuation and $0.6 million was related to non-cash stock-compensation charges associated with the modification of certain stock awards. The restructuring charges were primarily related to the Consumer and Research Services segment.

The following table shows the total amount incurred and accrued related to one-time employee termination benefits:

 

 

One-Time Employee Termination Benefits

 

 

(in thousands)

 

Accrued restructuring costs included in accrued expenses and other current liabilities as of March 31, 2023

$

 

Restructuring charges incurred during the period

 

4,217

 

Amounts paid during the period

 

(3,290

)

Accrued restructuring costs included in accrued expenses and other current liabilities as of June 30, 2023

$

927

 

The Company does not expect to incur any further material expenses in connection with the reduction in force event that occurred on June 9, 2023.