Property and Equipment

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

Property and equipment consist of the following:

	As of December 31,
	2025		2024
	(In thousands)
Capitalized internal-use software developments costs	$	421,795	$	357,334
Data center equipment (1)	27,843		63,672
Leasehold improvements	62,143		78,104
Office equipment	46,709		50,659
Furniture and fixtures	10,399		12,618
Software	14,927		14,143
Total property and equipment	583,816		576,530
Less: accumulated depreciation and amortization (1)	(406,853)		(385,488)
Total property and equipment, net	$	176,963	$	191,042

____________________________________

(1) Data center equipment includes $1.4 million and $33.5 million in assets held under finance leases as of December 31, 2025 and 2024, respectively. Accumulated depreciation and amortization includes $1.4 million and $28.6 million of accumulated depreciation for assets held under finance leases as of December 31, 2025 and 2024, respectively.

Depreciation and amortization expense was $85.1 million, $91.9 million and $89.9 million for the years ended December 31, 2025, 2024 and 2023, respectively.

The Company capitalized $72.5 million, $72.5 million and $57.2 million in internal‑use software development costs in the years ended December 31, 2025, 2024 and 2023, respectively.