Property and Equipment, Net

9 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

6. Property and Equipment, Net

Property and equipment, net consists of the following:


	September 30, 2023			December 31, 2022
	(in thousands)
Computer equipment and purchased software	$	16,029		$	17,710
Employee related computer equipment		46,966			46,399
Furniture and fixtures		19,780			21,232
Leasehold improvements		101,519			98,427
Internal-use software		43,924			32,205
Construction in progress		13,383			1,699
Total property and equipment		241,601			217,672
Less accumulated depreciation		(136,652	)		(112,445	)
Property and equipment, net	$	104,949		$	105,227

Depreciation and amortization expense on property and equipment was $7.7 million for the three months ended September 30, 2023, $21.8 million for the nine months ended September 30, 2023, $7.4 million for the three months ended September 30, 2022, and $20.6 million for the nine months ended September 30, 2022.

As part of the Restructuring Plan (defined in Note 15), the Company disposed of $0.1 million of fixed assets, net, in the three months ended September 30, 2023 and $1.4 million in the nine months ended September 30, 2023. The Company also recorded accelerated depreciation expense for fixed assets in connection with the lease abandonments as part of the Restructuring Plan. See Note 15 for more information.