Property and Equipment, Net

9 Months Ended

Sep. 30, 2025

Property, Plant and Equipment [Abstract]

3. Property and Equipment, Net

Property and equipment, net consisted of the following for the periods presented:


	As of
	September 30, 2025			December 31, 2024
Land	$	135,538		$	123,550
Buildings and improvements		402,367			328,664
Finance leases		16,497			16,554
Leasehold improvements		167,269			151,635
Vehicles and equipment		372,308			353,660
Furniture, fixtures and equipment		105,538			106,271
Construction in progress		90,589			61,153
Property and equipment, gross		1,290,106			1,141,487
Accumulated depreciation		(369,667	)		(322,676	)
Accumulated amortization - finance leases		(4,931	)		(4,211	)
Property and equipment, net	$	915,508		$	814,600

For the three months ended September 30, 2025 and 2024, depreciation expense was $21,700 and $19,682, respectively. For the nine months ended September 30, 2025 and 2024, depreciation expense was $62,938 and $55,754, respectively.

For the three months ended September 30, 2025 and 2024, amortization expense on finance leases was $242 and $254, respectively. For the nine months ended September 30, 2025 and 2024, amortization expense on finance leases was $729 and $756, respectively.

During the second quarter of 2025, the Company sold a car wash location that was classified as held for sale. Based on the net proceeds of the sale, a gain of $338 was recorded during the second quarter of 2025. The gain was recorded in (gain) loss on sale of assets, net on the consolidated statements of operations and comprehensive income for the nine months ended September 30, 2025.

As of September 30, 2025, the two car wash locations classified as held for sale have a net book value of $3,294. The assets of these locations are recorded in property and equipment, net on the consolidated balance sheets.