The estimated useful life of each asset category is summarized as follows:
Estimated Useful Life
Office equipment
3 - 5 years
Phone hardware
3 years
Payment terminals
3 years
Office furniture
7 years
Leasehold improvementsShorter of remaining lease term or estimated life
Property and equipment consisted of the following for the periods presented (in thousands):
December 31, 2025December 31, 2024
Office equipment$3,501 $6,626 
Office furniture5,539 5,670 
Leasehold improvements3,039 2,763 
Capitalized internal-use software9,746 7,059 
Payment terminals2,523 2,308 
Property and equipment, gross24,348 24,426 
Less accumulated depreciation and amortization(15,136)(15,983)
Property and equipment, net$9,212 $8,443 

Historical Timeline

Fiscal YearFiled
2025Mar 5, 2026Showing above
2024Mar 13, 2025
2023Mar 13, 2024
2022Mar 16, 2023
2021Mar 23, 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.