Property and equipment as of March 31, 2026 and December 31, 2025 consist of the following:


	Depreciation period in years	March 31, 2026		December 31, 2025
Internally developed software	3 - 5	$	74,281	$	73,994
Acquired software	3	6,441		6,441
Equipment	5	68,721		61,860
Leasehold improvements	1 - 15	8,120		8,120
Furniture and fixtures	5	16,814		16,434
Construction in progress		4,947		7,398
Total property and equipment, cost		179,324		174,247
Less: accumulated depreciation		(121,462)		(114,916)
Total property and equipment, net		$	57,862	$	59,331

Depreciation and amortization expense related to property and equipment for the three months ended March 31, 2026 and 2025 was $6,718 and $5,432, respectively.

During the three months ended March 31, 2026 and 2025, $1,760 and $2,173, respectively, was capitalized in connection with internally developed software inclusive of $256 and $204, respectively, of equity-based compensation. Amortization expense on internally developed software was $2,935 and $3,311 for the three months ended March 31, 2026 and 2025, respectively.

During the three months ended March 31, 2026 and 2025, the Company recognized no impairment charges on certain long-lived assets.

Purchases of property and equipment with unpaid costs in accounts payable and accrued liabilities as of March 31, 2026 were $1,397 and $161, respectively, and $547 and $1,000 as of March 31, 2025, respectively.