Quarterly report [Sections 13 or 15(d)]

Restructuring Activity

v3.26.1
Restructuring Activity
 6 Months Ended
Jun. 30, 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 cancelling certain 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 June 30, Six Months Ended June 30,
2026 2025 2026 2025
(in thousands)
Employee separation expenses $ 218  $ 4,561  $ 323  $ 6,158 
Lease related charges (176) 933  182  935 
Other 22  86  33  6,366 
$ 64  $ 5,580  $ 538  $ 13,459 
The following table presents a roll-forward of the Company’s restructuring liability for the six months ended June 30, 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 323  182  33  538 
Cash payments (2,707) (172) (8,818) (11,697)
Non-cash charges and adjustments (254) 101  138  (15)
Liability as of June 30, 2026 219  969  2,596  3,784 
Less: current portion as of June 30, 2026 (219) (969) (1,175) (2,363)
Long-term portion as of June 30, 2026 $ —  $ —  $ 1,421  $ 1,421