Quarterly report [Sections 13 or 15(d)]

Restructuring Activity

v3.26.1
Restructuring Activity
 3 Months Ended
Mar. 31, 2026
Restructuring and Related Activities [Abstract]  
Restructuring Activity Restructuring Activity
From time to time, the Company approves and implements restructuring plans as a result of internal resource alignment and cost saving measures. Such restructuring plans may include terminating employees, vacating certain leased facilities, and cancellation of contracts.
The following table presents the activity related to the restructuring plans, which is included in restructuring charges in the consolidated statements of operations:
Three Months Ended March 31,
2026 2025
(in thousands)
Employee separation expenses $ 105  $ 1,597 
Lease related charges 358  2 
Other 11  6,280 
$ 474  $ 7,879 
The following table presents a roll-forward of the Company’s restructuring liability for the three months ended March 31, 2026. The restructuring liability is included in accrued expenses and other current liabilities and other long-term liabilities in the consolidated balance sheets.
Employee Separation Expenses Lease Related Charges Other Total
(in thousands)
Liability as of December 31, 2025 $ 2,857  $ 858  $ 11,243  $ 14,958 
Restructuring charges 105  358  11  474 
Cash payments (2,338) (73) (4,404) (6,815)
Non-cash charges and adjustments (94) (359) 88  (365)
Liability as of March 31, 2026 530  784  6,938  8,252 
Less: current portion as of March 31, 2026 (530) (784) (5,404) (6,718)
Long-term portion as of March 31, 2026 $ —  $ —  $ 1,534  $ 1,534