v3.26.1
Property and Equipment
 6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Property and Equipment

8. Property and Equipment

Property and equipment consists of the following:
 

 

 

June 30, 2026

 

 

December 31, 2025

 

 

 

(in thousands)

 

Computer equipment and purchased software

 

$

20,065

 

 

$

19,520

 

Employee related computer equipment

 

 

49,466

 

 

 

47,408

 

Furniture and fixtures

 

 

20,635

 

 

 

20,246

 

Leasehold improvements

 

 

129,449

 

 

 

124,067

 

Internal-use software

 

 

117,041

 

 

 

100,901

 

Construction in progress

 

 

11,576

 

 

 

5,582

 

Total property and equipment

 

 

348,232

 

 

 

317,724

 

Less accumulated depreciation

 

 

(191,106

)

 

 

(175,855

)

Property and equipment, net

 

$

157,126

 

 

$

141,869

 

Depreciation and amortization expense on property and equipment was $10.0 million for the three months ended June 30, 2026, $19.1 million for the six months ended June 30, 2026, $8.9 million for the three months ended June 30, 2025, and $16.1 million for the six months ended June 30, 2025.