Leases (Tables)

3 Months Ended

Mar. 31, 2022

Lessee, Lease, Description [Line Items]

Schedule of cumulative effect of the changes made to the Condensed Consolidated Balance Sheet

(in thousands)	December 31, 2021		Adjustments due to ASC 842		January 1, 2022
Prepaid expenses and other current assets	$	23,295	$	(229)	$	23,066
Other non-current assets	$	2,780	$	(496)	$	2,284
Operating lease right-of-use assets, net	$	—	$	78,827	$	78,827
Operating lease liabilities, current	$	—	$	4,885	$	4,885
Operating lease liabilities, non-current	$	—	$	74,677	$	74,677
Other current liabilities	$	6,716	$	(614)	$	6,102
Other non-current liabilities	$	3,209	$	(847)	$	2,362

Schedule of lease cost and other information about leases

	Three Months Ended
(in thousands)	March 31, 2022
Lease cost:
Operating lease cost (1)	$	2,878
Finance lease cost
Depreciation of finance lease assets (2)		372
Interest on finance lease liabilities (3)		42
Short-term lease cost (1)		251
Total lease cost	$	3,543
Other information:
Cash paid for amounts included in the measurement of lease liabilities
Operating cash outflows from operating leases	$	1,180
Operating cash outflows from finance leases	$	35
Financing cash outflows from finance leases	$	480
Weighted-average remaining lease term - operating leases (in years)		14.7
Weighted-average remaining lease term - finance leases (in years)		2.2
Weighted-average discount rate - operating leases		4.4%
Weighted-average discount rate - finance leases		3.7%

(1) Included in Cost of revenue, Sales, marketing and customer support, Product development and General and administrative expenses in the accompanying Condensed Consolidated Statements of Operations and Comprehensive Income.

(2) Included in Depreciation and amortization in the accompanying Condensed Consolidated Statements of Operations and Comprehensive Income.

(3) Included in Interest expense in the accompanying Condensed Consolidated Statements of Operations and Comprehensive Income.

Schedule of the future operating lease commitment under agreement

Maturities of lease liabilities for the remainder of 2022 and the years through 2028 and thereafter are as follows:

	March 31, 2022
(in thousands)	Operating Leases		Finance Leases
2022	$	3,863	$	1,541
2023		5,856		1,938
2024		6,671		598
2025		6,516		169
2026		6,463		—
2027		6,337		—
2028 and thereafter		80,610		—
Total lease payments		116,316		4,246
Less amount representing interest		(37,073)		(176)
Present value of total lease payments	$	79,243	$	4,070

Schedule of maturities of finance lease liabilities

	March 31, 2022
(in thousands)	Operating Leases		Finance Leases
2022	$	3,863	$	1,541
2023		5,856		1,938
2024		6,671		598
2025		6,516		169
2026		6,463		—
2027		6,337		—
2028 and thereafter		80,610		—
Total lease payments		116,316		4,246
Less amount representing interest		(37,073)		(176)
Present value of total lease payments	$	79,243	$	4,070

Schedule of future minimum lease obligations

The following tables, which were included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021, present the Company’s future minimum lease payments under ASC 840 for all operating leases as of December 31, 2021. Future minimum lease payments differ from the future lease liability recognized under ASC 842, as the operating lease liability recognized under ASC 842 discounts the lease payments while the minimum operating lease payments presented below are not discounted.

Operating Leases

	Year Ending
(in thousands)	December 31,
2022	$	5,463
2023		4,381
2024		681
2025		439
2026		294
Thereafter		76
	$	11,334

NEW YORK

Lessee, Lease, Description [Line Items]

Schedule of future minimum lease obligations

	Year Ending
(in thousands)	December 31,
2022	$	—
2023		1,735
2024		5,987
2025		6,077
2026		6,168
Thereafter		86,872
	$	106,839