Property and Equipment, Net

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

7. Property and Equipment

Property and equipment consists of the following:


	June 30, 2024			December 31, 2023
	(in thousands)
Computer equipment and purchased software	$	16,396		$	16,395
Employee related computer equipment		53,298			50,018
Furniture and fixtures		20,464			20,666
Leasehold improvements		112,580			112,714
Internal-use software		60,639			48,894
Construction in progress		458			—
Total property and equipment		263,835			248,687
Less accumulated depreciation		(157,949	)		(145,356	)
Property and equipment, net	$	105,886		$	103,331

Depreciation and amortization expense on property and equipment was $7.0 million for the three months ended June 30, 2024, $14.1 million for the six months ended June 30, 2024, $6.7 million for the three months ended June 30, 2023, and $14.1 million for the six months ended June 30, 2023.

As part of the Restructuring Plan (defined in Note 15), the Company disposed of $0.5 million of fixed assets, net, in the three months ended June 30, 2023 and $1.3 million in the six months ended June 30, 2023. The Company also recorded accelerated depreciation expense for fixed assets in connection with the lease abandonments as part of the Restructuring Plan. See Note 15 for more information.