v3.26.3
Property, Plant and Equipment
 9 Months Ended
Sep. 30, 2026
Property, Plant, and Equipment [Abstract]  
Property, Plant and Equipment
4. Property, Plant and Equipment
Property, plant and equipment, net consisted of the following:
As of September 30,As of December 31,
20262025
(In thousands)
Furniture and fixtures$16,084 $15,845 
Computer and office equipment15,145 14,789 
Telecommunications equipment98,114 92,829 
Leasehold improvements78,111 77,704 
Software23,308 22,302 
Internal-use software development50,342 44,198 
Automobile315 452 
Land27,636 27,636 
Land Improvements1,086 1,065 
Total cost310,141 296,820 
Less—accumulated depreciation(149,623)(122,569)
Total property, plant and equipment, net$160,518 $174,251 
The Company capitalized $2.0 million and $6.6 million of software development costs for the three and nine months ended September 30, 2026, respectively, and $2.7 million and $8.1 million for the three and nine months ended September 30, 2025, respectively.
Amortization expense related to capitalized software development costs was $2.3 million and $6.5 million for the three and nine months ended September 30, 2026, respectively, and $1.9 million and $5.0 million for the three and nine months ended September 30, 2025, respectively.
The Company recognized depreciation expense, which includes amortization of capitalized software development costs, as follows:
Three months ended September 30,Nine months ended September 30,
2026202520262025
(In thousands)
Cost of revenue$5,934 $5,299 $17,882 $15,137 
Research and development2,031 1,881 5,988 5,330 
Sales and marketing1,219 1,270 3,693 3,622 
General and administrative784 758 2,329 2,084 
Total depreciation expense$9,968 $9,208 $29,892 $26,173