The Company has entered into various operating leases for its office space expiring between fiscal 2024 and 2036. Certain lease agreements contain an option for the Company to renew a lease for a term of up to five years. The Company considers these options, which may be elected at the Company’s sole discretion, in determining the lease term on a lease-by-lease basis.

On December 18, 2023, the Company entered into an Agreement of Sub-Sublease, with Spotify USA Inc., as Sub-Sublandlord for 85,666 square feet of office space in the building located at 4 World Trade Center, 150 Greenwich Street, New York, New York 10007 for use as additional office space. The term of the Sub-Sublease commenced on January 8, 2024 and will expire on April 29, 2034.

In February 2024, the Company signed a lease with Bullitt Center LLC for 7,940 square feet of office space in Seattle, Washington. The term of the lease is 63 months beginning on March 1, 2024 and expiring on May 31, 2029.

In March 2024, the Company entered into the First and Second Amendments (the “Amendments”) to the Office Lease Agreement with 5704 Penn Office, LLC (the "Landlord") for office space located at Liberty East (the “Premise”) at 141 South Saint Clair Street, Pittsburgh, Pennsylvania, which, among other things, increased the leased square footage by 110,008 square feet to a total of 148,266 square feet beginning when construction of the leasehold improvements commences in the first half of 2025, with an expiration date of April 30, 2036. Under the terms of the Amendments, the Landlord will provide the Company with an improvement allowance of up to approximately $6,800 for costs relating to the design, permitting, and construction of improvements to the Premise.

In May 2024, the Company signed a lease with Beijing Hengshi Huarong Holding Co., Ltd. for 16,314 square feet of office space in Beijing, China. The term of the lease is 39 months beginning on May 20, 2024 and expiring on July 15, 2027.

The following represents the components of lease cost for the year ended December 31, 2024 and 2023 along with supplemental disclosures of cash flow information, lease term and discount rate:


	Year Ended December 31,
		2024		2023		2022
Operating lease cost		$	9,982	$	7,459	$	7,076
Short term lease cost		83		48		125
Variable lease cost		468		252		63
Total lease cost		$	10,533	$	7,759	$	7,264

Cash paid for amounts included in the measurement of lease liabilities		$	5,727	$	7,512	$	5,168
Right-of-use assets obtained in exchange for new operating lease liabilities		$	33,039	$	—	$	909
Right of use assets disposed or adjusted, modifying operating leases liabilities		$	1,302	$	2,024	$	(1,586)


	December 31, 2024		December 31, 2023		December 31, 2022
Weighted-average remaining lease term	9 years		9 years		9 years
Weighted-average discount rate	7.16	%	7.38	%	6.92	%

The following table reconciles future minimum undiscounted rental commitments for operating leases to operating lease liabilities recorded on the Consolidated Balance Sheet as of December 31, 2024:


Fiscal year
2025	$	4,185
2026	9,134
2027	9,505
2028	9,299
2029	9,492
Thereafter	38,989
Total undiscounted lease payments	$	80,604
Present value adjustment	(23,367)
Operating lease liabilities	$	57,237

Current lease liabilities of $2,581 and $3,944 are presented within Accrued expenses and other liabilities while non-current lease liabilities of $54,656 and $21,094 are presented within Long-term obligation under operating leases on the Consolidated Balance Sheets for the years ended December 31, 2024 and 2023, respectively.