Property and Equipment

9 Months Ended

Sep. 30, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment

7. Property and Equipment

As of September 30, 2022 and December 31, 2021, property and equipment consisted of the following:

(in thousands)	September 30, 2022			December 31, 2021
Computer equipment	$	7,754		$	8,017
Leasehold improvements		23,728			54,500
Furniture, fixtures and other assets		7,547			10,577
Gross property and equipment		39,029			73,094
Less: Accumulated depreciation		(37,572	)		(67,652	)
Property and equipment, net	$	1,457		$	5,442

Depreciation expense was $0.7 million and $3.1 million during the three and nine months ended September 30, 2022, respectively, and $3.3 million and $10.3 million during the three and nine months ended September 30, 2021, respectively.

In May 2022, in connection with the March 2022 Restructuring Plan, the Company executed a partial termination to reduce the leased space for its San Mateo, CA headquarters. As a result, the Company impaired certain leasehold improvements associated with the vacated space, which is included in restructuring in the condensed consolidated statement of operations for the nine months ended September 30, 2022. See Note 15 for additional information.