Property and equipment, net at December 31, 2025 and 2024 consisted of the following: 
 As of December 31,
 20252024
Computers, related equipment, and software$29,165 $32,383 
Leasehold improvements32,328 32,254 
Furniture and fixtures8,615 8,665 
Assets under construction793 1,617 
Property and equipment70,901 74,919 
Accumulated depreciation
(47,429)(53,241)
Property and equipment, net$23,472 $21,678 
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Historical Timeline

Fiscal YearFiled
2025Feb 24, 2026Showing above
2024Feb 25, 2025
2023Feb 27, 2024
2022Feb 28, 2023
2021Feb 24, 2022
2020Feb 23, 2021
2019Feb 26, 2020
2018Feb 27, 2019
2017Feb 28, 2018
2016Feb 23, 2017
2015Feb 23, 2016

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.