Property and Equipment

3 Months Ended

Mar. 31, 2020

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

Property and equipment are recorded at cost and consist of the following:

	As of March 31, 2020		As of December 31, 2019
	(in thousands)
Computer equipment and software	$	14,037	$	13,106
Furniture and fixtures	7,921		7,522
Leasehold improvements	44,320		44,050
Total	66,278		64,678
Less accumulated depreciation	(16,203)		(14,008)
Property and equipment, net	$	50,075	$	50,670

Depreciation expense was $2.7 million and $1.9 million for the three months ended March 31, 2020 and 2019, respectively.