| PROPERTY AND EQUIPMENT, NET |
PROPERTY AND EQUIPMENT, NET Property and equipment, net, consists of the following: | | | | | | | | | | | | | | | | | (In thousands) | September 30,
2026 | | December 31, 2025 | | Leasehold improvements | $ | 58,073 | | | $ | 44,773 | | | Furniture, fixtures and equipment | 20,517 | | | 13,095 | | | Total property and equipment | 78,590 | | | 57,868 | | | Less: accumulated depreciation | (25,570) | | | (21,571) | | | Total property and equipment, net | $ | 53,020 | | | $ | 36,297 | |
Depreciation expense is included within the following financial statement line items within the Company’s Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income. | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | (In thousands) | 2026 | | 2025 | | 2026 | | 2025 | | | | | | | | | | | | | | Research and development | $ | 823 | | | $ | 826 | | | $ | 2,528 | | | $ | 2,451 | | | | | Sales and marketing | 99 | | | 93 | | | 304 | | | 294 | | | | | General and administrative | 401 | | | 354 | | | 1,209 | | | 1,120 | | | | | Total | $ | 1,323 | | | $ | 1,273 | | | $ | 4,041 | | | $ | 3,865 | | | |
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