Quarterly report [Sections 13 or 15(d)]

PROPERTY AND EQUIPMENT, NET

v3.25.3
PROPERTY AND EQUIPMENT, NET
 9 Months Ended
Sep. 30, 2025
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT, NET
NOTE 9—PROPERTY AND EQUIPMENT, NET
Property and equipment, net consists of the following:
September 30,
2025		 December 31,
2024
Land and land improvements $ 1,895  1,680 
Building and building improvements 5,932  5,890 
Computer equipment 9,811  9,288 
Leasehold improvements 11,415  10,964 
Purchased software 586  704 
Furniture and fixtures 3,682  3,812 
Construction in progress 27  — 
Total property and equipment 33,348  32,338 
Less: accumulated depreciation (19,265) (16,220)
Total property and equipment, net $ 14,083  $ 16,118 
The aggregate depreciation expense for property and equipment, net is reflected in “Depreciation and amortization” in the Condensed Consolidated Statements of Operations. During the three months ended September 30, 2025 and 2024, depreciation expense was $0.9 million and $1.2 million, respectively. During the nine months ended September 30, 2025 and 2024, depreciation expense was $3.0 million and $3.7 million, respectively. There were no material impairment charges or material write-offs recorded for the three and nine months ended September 30, 2025 and 2024.
Property and equipment, net by region consists of the following:
September 30,
2025		 December 31,
2024
United States $ 9,722  $ 10,947 
Europe, Middle East, and Africa
 3,536  4,059 
All other countries 825  1,112 
Total property and equipment, net $ 14,083  $ 16,118