v3.26.1
Property and Equipment, net
 6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Property and Equipment, net Property and Equipment, net
The following table presents the major classes of property and equipment, net, as of June 30, 2026 and December 31, 2025:
(In thousands)June 30, 2026December 31, 2025
Office equipment and software$9,679 $9,768 
Leasehold improvements7,986 8,000 
Furniture and fixtures3,844 3,861 
Capitalized software32,672 26,575 
Total54,181 48,204 
Accumulated depreciation(30,285)(25,970)
Property and equipment, net$23,896 $22,234 
Depreciation expense was $2.3 million and $4.5 million for the three and six months ended June 30, 2026, respectively, compared to $1.8 million and $3.3 million for the three and six months ended June 30, 2025, respectively. Depreciation expense includes cost of sales depreciation expense directly related to delivering cloud subscription revenue of $1.8 million and $3.5 million for the three and six months ended June 30, 2026, respectively, and $1.3 million and $2.3 million for the three and six months ended June 30, 2025, respectively, and are recorded in "Services and other cost of goods sold" on the condensed consolidated statements of operations.
The Company wrote-off internal capitalized software of $0.3 million during the six months ended June 30, 2026 related to an in process software project similar to the mobile application protection solution acquired in the Build38 acquisition. As a result, the Company determined this software project to have no future benefit.