v3.25.4
PROPERTY, EQUIPMENT AND SOFTWARE, NET
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
PROPERTY, EQUIPMENT AND SOFTWARE, NET PROPERTY, EQUIPMENT AND SOFTWARE, NET
The following summarizes property, equipment and software, net as of December 31, 2025 and 2024 (in thousands):
December 31,
20252024
Furniture and fixtures and other$337 $394 
Leasehold improvements982 1,001 
Computer hardware and purchased software4,682 4,367 
Internally-developed software (1)
222,596 267,777 
Total property, equipment and software, gross228,597 273,539 
Less: accumulated depreciation and amortization(212,477)(255,712)
Property, equipment and software, net$16,120 $17,827 
(1)The net carrying amount of Internally-developed software was $14.6 million and $17.1 million as of December 31, 2025 and 2024.
We performed an assessment during the years ended December 31, 2025, 2024 and 2023 and did not identify a triggering event that would have required us to test for impairment for such periods.
Depreciation and amortization expense on property, equipment and software is classified as follows in the accompanying Consolidated Statements of Operations for the years ended December 31, 2025, 2024 and 2023 (in thousands):
Year Ended December 31,
202520242023
Cost of revenue
$8,049 $13,760 $25,024 
Selling, general and administrative9,072 14,129 18,377 
Total$17,121 $27,889 $43,401 
The above amounts include amortization of internally-developed software of $16.4 million, $26.3 million and $38.1 million for the years ended December 31, 2025, 2024 and 2023.