Property and equipment, net consisted of the following (in thousands):
December 31,
20252024
Leasehold improvements$53,598 $45,026 
Furniture and fixtures10,650 11,579 
Computers and equipment31,551 29,212 
Purchased software1,964 1,660 
Property and equipment
97,763 87,477 
Less: accumulated depreciation and amortization(49,139)(43,885)
Property and equipment, net$48,624 $43,592 
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Historical Timeline

Fiscal YearFiled
2025Feb 24, 2026Showing above
2024Feb 26, 2025
2023Feb 26, 2024
2022Mar 1, 2023
2021Mar 4, 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.