v3.25.4
Property and Equipment, Net
12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net 7. Property and Equipment, Net
Major classes of property and equipment were as follows:
Year Ended December 31,
2025
2024
(in thousands)
Computer equipment
$310,362
$282,703
Furniture and fixtures
6,686
5,419
Construction in progress (1)
11,901
876
Leasehold improvements
24,492
20,728
Gross book value at end of period
353,441
309,726
Less: Accumulated depreciation
(214,111)
(202,504)
Net book value at end of period
$139,330
$107,222
(1) Includes leasehold improvements projects which are not yet ready for the intended use.
Depreciation expense for 2025, 2024 and 2023 was $33.3 million, $41.1 million and $51.4 million, respectively.