We record property and equipment at cost and depreciate them using the straight-line method over their estimated useful lives as follows:
Useful Life
(in years)
Equipment, servers and computers
3 - 5
Furniture and fixtures
5 - 7
Software
3 - 5
Leasehold improvementsLesser of lease term or useful life
Property and equipment, net, including software, consisted of the following:
December 31,
20252024
(in thousands)
Servers, equipment and computers$65,316 $61,090 
Furniture and fixtures6,277 5,919 
Software956 1,065 
Leasehold improvements22,681 23,613 
$95,230 $91,687 
Less: Accumulated depreciation and amortization(57,268)(55,525)
Property and equipment, net$37,962 $36,162 
Depreciation and amortization expense on property and equipment was as follows for the years ended December 31, 2025, 2024, and 2023:
Year Ended December 31,
202520242023
(in thousands)
Depreciation and amortization$18,358 $15,956 $15,228 

Historical Timeline

Fiscal YearFiled
2025Feb 26, 2026Showing above
2024Mar 7, 2025
2023Feb 29, 2024
2022Mar 14, 2023
2021Mar 8, 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.