
	As of,
	March 31, 2025		December 31, 2024
Capitalized internal-use software	$	32,399	$	26,698
Office equipment	5,386		4,841
Computer equipment	8,119		7,027
Furniture and fixtures	8,342		8,052
Leasehold improvements	46,383		46,062
Construction-in-progress	—		124
Asset retirement cost	—		643
Total property and equipment	100,629		93,447
Less accumulated depreciation and amortization	(48,883)		(45,247)
Total property and equipment, net	$	51,746	$	48,200

Depreciation and amortization expense related to property and equipment was approximately $4.8 million and $4.0 million for the three months ended March 31, 2025 and 2024, respectively. On January 31, 2025, the Company amended the lease agreement for its corporate headquarters located in Boston, Massachusetts which, among other things, extended the term of the lease to March 2033. Under the Company’s accounting policy, the useful life of leasehold improvements is the lesser of the lease term and the useful life of the asset. As such, the extension of the lease represents a change in estimate of the useful life of the leasehold improvements within the corporate headquarters. The Company accounted for this change in the useful lives as a change in accounting estimate under ASC 250 Accounting Changes and Error Corrections, which were recorded prospectively upon execution of the lease amendment. This change in estimate resulted in a reduction of $0.6 million in depreciation expense for the three months ended March 31, 2025 and an immaterial impact on basic and diluted net loss per share attributable to Series A and Series B common stockholders.

During the three months ended March 31, 2025 and 2024, the Company capitalized $6.1 million and $2.1 million of internal-use software development costs, respectively. The Company recorded amortization expense associated with its capitalized internal-use software development costs of $1.7 million and $0.8 million for the three months ended March 31, 2025 and 2024, respectively. Amortization expense is included in cost of revenue in the Condensed Consolidated Statements of Operations and Comprehensive Loss.

During fiscal year 2020, on the commencement date of the lease for the Company's headquarters in Boston, Massachusetts, the Company established an asset retirement obligation based on the present value of contractually required estimated future costs to remove long-lived assets at the termination or expiration of a lease and to return the space to its original condition. As of December 31, 2024, the asset retirement obligation is included in other non-current liabilities on the Condensed Consolidated Balance Sheets. On January 31, 2025, the Company amended the lease agreement for its Boston headquarters and, under the terms of the amendment, the Company is relieved of the obligation to return the space to its original condition. During the three months ended March 31, 2025, the Company derecognized the asset retirement obligation and recorded an immaterial gain for the difference between the Company's estimate of the asset retirement obligation and the carrying value of the asset retirement cost which is included in general and administrative expenses on the Condensed Consolidated Statements of Operations and Comprehensive Loss.