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
Property and equipment, net consisted of the following:

As of
June 30, 2026December 31, 2025
Datacenter and other computer equipment$786.1 $823.5 
Furniture and fixtures8.7 9.4 
Leasehold improvements100.0 104.3 
Construction in progress3.9 0.4 
Total property and equipment898.7 937.6 
Accumulated depreciation(560.6)(559.2)
Property and equipment, net$338.1 $378.4 

The Company leases certain infrastructure equipment from various third parties, through finance leases. Datacenter and other computer equipment as of June 30, 2026 and December 31, 2025 included a total of $470.7 million and $485.5 million, respectively, of infrastructure equipment acquired under finance lease agreements. These leases are capitalized in property and equipment, and the related depreciation of assets under finance leases is included in depreciation expense. The accumulated depreciation of the infrastructure equipment under finance leases totaled $200.9 million and $183.8 million as of June 30, 2026 and December 31, 2025, respectively.

Depreciation expense related to property and equipment was $31.5 million and $64.2 million for the three and six months ended June 30, 2026, respectively and $32.6 million and $64.3 million for the three and six months ended June 30, 2025, respectively.