Subsequent Events

3 Months Ended

Mar. 31, 2022

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

The Company has completed an evaluation of all subsequent events after the balance sheet date of March 31, 2022 through May 16, 2022, the date this Quarterly Report on Form 10-Q was filed with the SEC, to ensure that this filing includes appropriate disclosure of events both recognized in the financial statements as of March 31, 2022, and events which occurred subsequently but were not recognized in the financial statements. The Company has concluded that no subsequent events have occurred that require disclosure, except as disclosed within these financial statements and except as disclosed below.

Relocation of Russia-based workforce

As a response to the Russian military action in Ukraine and subsequent U.S., E.U., and other sanctions against Russia, the Company is actively winding down operations in Russia and relocating employees outside of the country. The Company expects these relocations to be substantially complete by September 30, 2022, and expects to incur costs of approximately $24.5 million to $28.5 million over the remainder of fiscal year 2022 with respect to such relocations. These expenses relate both to the costs of relocation and the expected higher costs of talent and labor in the geographies to which the Company is relocating these employees. For more information on the risks of geographic instability on the Company’s operations, see “Item 1A. Risk Factors—Most Material Risks to Us—Instability in geographies where we have significant operations and personnel, including in Russia, could have a material adverse effect on our business, customers, and financial results”.