Property and Equipment

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

Property and equipment consisted of the following:

		As of December 31,
	Useful Life	2024		2025
		(in thousands)
Land	—	$	3,161	$	3,161
Building and building improvements	15 - 39 years	16,715		16,715
Leasehold improvements	up to 20 years	49,828		52,581
Office equipment	5 years	1,879		1,500
Computer equipment	3 - 5 years	25,265		21,595
Furniture and fixtures	5 - 7 years	19,751		16,984
Other capital assets	5 years	81		59
Software development	3 - 5 years	74,173		69,468
Program development	3 years	14,854		12,714
		205,707		194,777
Less: accumulated depreciation and amortization		(132,324)		(124,179)
		$	73,383	$	70,598

During the years ended December 31, 2023, 2024, and 2025, the Company disposed of long-lived assets resulting in a loss of $0.6 million, $0.4 million, and $0.4 million, respectively. The disposals and losses were primarily related to assets no longer in use. The losses on long-lived assets are included as loss on disposals of long-lived assets in these Consolidated Financial Statements.

During the years ended December 31, 2023, 2024, and 2025, the Company recorded depreciation expense of $15.6 million, $16.0 million and $16.1 million, respectively.