Property and equipment, stated at cost, at December 31, 2025 and 2024 consisted of the following (in thousands):
20252024
Internal-use software development costs
$99,961 $88,244 
Computers, software and equipment
19,504 18,616 
Furniture and fixtures
892 882 
Leasehold improvements1,724 1,715 
Internal-use software development costs in process
67,400 46,676 
189,481 156,133 
Less: Accumulated depreciation and amortization(72,612)(56,057)
 Total property and equipment, net$116,869 $100,076 

Historical Timeline

Fiscal YearFiled
2025Feb 13, 2026Showing above
2024Feb 20, 2025
2023Feb 28, 2024
2022Mar 31, 2023
2021Apr 15, 2022

About PP&E Disclosures

The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.

Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.