v3.22.2.2
Property and equipment, net
 9 Months Ended
Sep. 30, 2022
Property, Plant and Equipment [Abstract]  
Property and equipment, net Property and equipment, netProperty and equipment, net, consists of the following as of September 30, 2022 and December 31, 2021 (in thousands):
Estimated Useful Life
September 30, 2022December 31, 2021
(years)
Vehicles5$246 $177 
Furniture and fixtures71,151 542 
Office and other equipment51,185 945 
Leasehold improvementsLesser of lease term or useful life8,596 2,825 
Construction in progressn/a928 2,241 
12,106 6,730 
Less: accumulated depreciation(1,560)(1,085)
Total property and equipment, net$10,546 $5,645 

Construction in progress (“CIP”) consists of costs associated with the leasehold improvement activities of the Company’s new headquarters in Austin, Texas and build-out of corporate owned studios. During the nine months ended September 30, 2022, the Company began moving into the Austin, Texas headquarters and partially placed the related assets into service.

Depreciation expense related to property and equipment was approximately $0.3 million and $0.9 million for the three and nine months ended September 30, 2022, respectively, and $0.1 million and $0.2 million for the three and nine months ended September 30, 2021, respectively. Depreciation expense was recorded in selling, general and administrative expenses in the condensed consolidated statements of operations and comprehensive loss.