Leases |
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| Leases [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases | Leases The Company leases office facilities for its corporate headquarters in San Francisco, California under a non-cancelable operating lease agreement that was originally set to end in February 2025. This lease was amended in October 2023 to extend the term for approximately 2 years to February 2027. This amendment was accounted for as a lease modification in which the Company remeasured the operating lease liability and the operating lease right of use asset. As a result, the Company recorded an additional operating lease liability of $785 thousand with a corresponding increase in the operating lease right of use asset.
During the year ended December 31, 2023, the Company’s Bangladesh subsidiary entered into a 5-year non-cancelable lease for office facilities which ends in July 2028. The Company recorded an initial operating lease right-of-use asset and corresponding operating lease liability of $3.3 million for this lease. The Company intends to take possession of one additional floor under this lease in 2024. Additionally, in May 2023, the Company entered into 20-month lease for additional office space in Bangladesh and recorded an initial right-of-use asset and operating lease liability of $130 thousand.
During the year ended December 31, 2023, the Company's India subsidiary entered into a 5-year non-cancelable lease for office space that ends in December of 2027. The Company recorded an initial operating lease right of use asset and corresponding operating lease liability of $485 thousand for this lease.
The Company also enters into short-term leases for additional office space with terms or 1 year or less, or in which the Company has the right to terminate with notice. The Company does not record an operating lease liability or operating lease right of use asset for these leases.
The following table summarizes activity related to our leases:
Other information related to the operating lease where the Company is the lessee is as follows:
As of December 31, 2023, the maturities of the Company’s operating lease liability (excluding short-term leases) is as follows:
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