v3.26.1
Property, Equipment and Software
 3 Months Ended
Mar. 31, 2026
Property, Plant and Equipment [Abstract]  
Property, Equipment and Software Property, Equipment and Software
A summary of property, equipment and software, net was as follows:
(in thousands)March 31, 2026December 31, 2025
Computer software$130,056 $125,073 
Equipment13,821 14,037 
Leasehold improvements2,592 2,621 
Furniture and fixtures872 875 
Property, equipment and software147,341 142,606 
Less: Accumulated depreciation(90,577)(86,245)
Capital work in-progress3,021 2,275 
Property, equipment and software, net$59,785 $58,636 
Three Months Ended March 31,
(in thousands)20262025
Depreciation expense$4,373 $3,862 
Computer software represents purchased software and internally developed software that is used to provide the Company's services to its customers.
Fully depreciated assets are retained in property, equipment and software, net, until removed from service. Certain fully depreciated assets were removed from service during the three months ended March 31, 2026 and 2025.