v3.25.0.1
Property and Equipment - Net
12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Property and Equipment

8. Property and Equipment – Net

The following table summarizes our major classes of property and equipment, net of accumulated depreciation as of December 31, 2024 and 2023 (in thousands):

 

 

December 31,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Computer equipment

 

$

3,145

 

 

$

2,792

 

Furniture

 

 

1,996

 

 

 

1,705

 

Leasehold improvements

 

 

8,692

 

 

 

7,655

 

Construction in progress

 

 

2,165

 

 

 

-

 

Property and equipment

 

 

15,998

 

 

 

12,152

 

Less: accumulated depreciation

 

 

(3,431

)

 

 

(1,996

)

Property and equipment – net

 

$

12,567

 

 

$

10,156

 

Depreciation expense related to property and equipment for the years ended December 31, 2024, 2023, and 2022 was $1.7 million, $1.4 million, and $0.6 million, respectively, all of which is recorded in Depreciation and amortization in the Consolidated Statements of Operations. There were no impairment charges during the years ended December 31, 2024, 2023, and 2022. In each of the years ended December 31, 2024, 2023, and 2022, we recorded an expense of $0.1 million for losses incurred on property and equipment-related asset disposals, which is recorded in General and administrative expenses in the Consolidated Statements of Operations.