v3.25.4
Property and Equipment, Net
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net
4.
Property and Equipment, Net

Property and equipment, net consisted of (in thousands):

 

Useful Life (Years)

 

December 31, 2025

 

 

December 31, 2024

 

Land

 

N/A

 

$

20,571

 

 

$

—

 

Building and improvements

 

15 – 35

 

 

9,530

 

 

 

—

 

Computer software

 

3 – 5

 

 

13,144

 

 

 

5,421

 

Furniture and equipment

 

2 – 7

 

 

29,556

 

 

 

19,894

 

Construction in progress

 

N/A

 

 

4,154

 

 

 

5,901

 

Leasehold improvements

 

3 – 39

 

 

10,051

 

 

 

7,746

 

 

 

 

 

87,006

 

 

 

38,962

 

Less accumulated depreciation and amortization

 

 

 

 

(29,674

)

 

 

(24,688

)

Property and equipment, net

 

 

 

$

57,332

 

 

$

14,274

 

Depreciation expense was $5.0 million, $2.3 million, and $5.1 million for the years ended December 31, 2025, 2024, and 2023, respectively, which is included in depreciation and amortization in the accompanying consolidated statements of income.