v3.26.1
Property, Equipment and Software, Net
 6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Property, Equipment and Software, Net Property, Equipment and Software, Net
Property, equipment and software, net, consist of the following:
June 30, 2026December 31, 2025
Software(1)
$263,966 $259,773 
Land, building and building improvements(2)
97,569 81,601 
Leasehold improvements10,157 30,686 
Computer equipment
7,528 5,829 
Furniture and fixtures4,469 5,554 
Total property, equipment and software383,689 383,443 
Accumulated depreciation and amortization(107,235)(129,355)
Total property, equipment and software, net$276,454 $254,088 
(1)    Includes $36.0 million and $28.3 million of development in progress for internally-developed software and $6.9 million and $6.8 million of development in progress to customize purchased software as of June 30, 2026 and December 31, 2025, respectively.
(2)    Includes $7.7 million of building improvements in progress as December 31, 2025.

Depreciation and amortization expense on property, equipment and software was $15.4 million and $30.5 million for the second quarter and first half of 2026, respectively. Depreciation and amortization expense on property, equipment and software was $14.8 million and $27.9 million for the second quarter and first half of 2025, respectively.

The Company recognized impairment expense of $2.1 million on its internally-developed software for the second quarter and first half of 2026. This was recorded within “Depreciation and amortization” expense on the Income Statement. No impairment expense was recorded for the second quarter and first half of 2025.