PROPERTY, SOFTWARE AND EQUIPMENT, NET

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

PROPERTY, SOFTWARE AND EQUIPMENT, NET

PROPERTY, SOFTWARE AND EQUIPMENT, NET

Property, software and equipment are presented net of accumulated depreciation and amortization and summarized as follows:

	December 31,		June 30,
(in thousands)	2020		2021
Computer equipment	$	9,203	$	17,459
Furniture and fixtures	8,024		14,764
Tenant improvements	18,945		38,426
Internally developed software	16,992		18,943
Construction in progress	9,756		7,266
Total	62,920		96,858
Less: accumulated depreciation and amortization	(17,086)		(25,780)
Property, software and equipment, net	$	45,834	$	71,078

Depreciation expense of property and equipment was $1.3 million and $2.1 million for the three and six months ended June 30, 2020, and $3.4 million and $5.8 million for the three and six months ended June 30, 2021.

Amortization expense of internally developed software was $0.9 million and $1.8 million for the three and six months ended June 30, 2020 and $1.5 million and $2.9 million for the three and six months ended June 30, 2021.

PROPERTY, SOFTWARE AND EQUIPMENT, NET

Property, software and equipment are recorded net of accumulated depreciation and summarized by as follows:

	December 31,
(in thousands)	2019		2020
Computer equipment	$	4,980	$	9,203
Furniture and fixtures	3,761		8,024
Tenant improvements	9,522		18,945
Internally developed software	12,029		16,992
Construction in progress	2,957		9,756
Total	33,249		62,920
Less: accumulated depreciation and amortization	(7,948)		(17,086)
Property, software and equipment, net	$	25,301	$	45,834

Depreciation and amortization expense of property and equipment for the year ended December 31, 2019 and 2020 was $2.1 million and $5.7 million.

Amortization expense of internally developed software for the year ended December 31, 2019 and 2020 was $3.3 million and $4.2 million.