Property and equipment are stated at cost, net of accumulated depreciation, and amortization. Depreciation and amortization is calculated using the straight-line method over the estimated useful lives of the related assets. Leasehold improvements are amortized using the straight-line method over the shorter of the lease term or the estimated useful life of the

asset. The Company reviews the estimated useful lives of its property and equipment on an annual basis. The following table presents the detail of property and equipment, net as of the dates presented:


	Useful life	March 31, 2025		December 31, 2024

	(In years)	(In thousands)
Computer equipment and software	3 to 5	$	135,475	$	134,647
Internal-use software development costs	5	180,065		176,725
Finance lease right-of-use assets	2	—		62
Furniture, equipment and building improvements	The lesser of 5 or estimated useful life	238		234
Property and equipment, at cost		315,778		311,668
Less: accumulated depreciation		(217,462)		(211,111)
Property and equipment, net		$	98,316	$	100,557

Depreciation and amortization expense of property and equipment was $5.6 million and $8.2 million during the three months ended March 31, 2025 and 2024, respectively. There were no impairments of property and equipment during the three months ended March 31, 2025 and 2024.

Expenditures for routine maintenance and repairs are charged to operating expense as incurred. Major renewals and improvements are capitalized and depreciated over their estimated useful lives.