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Property and Equipment, net
 9 Months Ended
Sep. 30, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment, net
6. Property and Equipment, net

Property and equipment, net consisted of the following as of September 30, 2023 and December 31, 2022 (in thousands):

As of
September 30, 2023December 31, 2022
Leasehold improvements$51,190 $45,959 
Office furniture and fixtures3,804 3,476 
Computer hardware9,410 9,689 
Computer software820 1,353 
Equipment192 242 
Property and equipment, gross65,416 60,719 
Less: accumulated depreciation(22,972)(18,864)
Property and equipment, net$42,444 $41,855 

Depreciation expense totaled $2.0 million and $5.9 million for the three and nine months ended September 30, 2023, respectively. Depreciation expense totaled $1.4 million and $4.2 million for the three and nine months ended September 30, 2022, respectively. We had no disposals or retirements during the three months ended September 30, 2023 and disposed of $1.4 million worth of fully depreciated property and equipment during the nine months ended September 30, 2023. There were no disposals or retirements during the three and nine months ended September 30, 2022.