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Property and Equipment, Net
 12 Months Ended
Dec. 31, 2017
Property Plant And Equipment [Abstract]  
Property and Equipment, Net

Note 4—Property and Equipment, Net

Major classes of property and equipment were as follows (in thousands):

 

 

 

As of December 31,

 

 

 

2016

 

 

2017

 

Computer equipment

 

$

2,542

 

 

$

4,520

 

Purchased software

 

 

6,686

 

 

 

7,735

 

Furniture and fixtures

 

 

2,563

 

 

 

4,306

 

Construction in progress

 

 

2,319

 

 

 

102

 

Leasehold improvements

 

 

4,374

 

 

 

9,645

 

 

 

 

18,484

 

 

 

26,308

 

Less: Accumulated depreciation

 

 

(3,705

)

 

 

(8,903

)

 

 

$

14,779

 

 

$

17,405

 

 

Depreciation expense for 2015, 2016 and 2017 was $1.0 million, $2.4 million and $5.3 million respectively.

The Company has purchased software under a financing arrangement where the Company makes installment payments over a four-year period. The Company has taken possession of the software and runs the software on its own equipment. As of December 31, 2016 and 2017, the software had a cost basis of $1.8 million. Accumulated depreciation on this software as of December 31, 2016 and 2017 was $0.9 million and $1.2 million, respectively. Depreciation expense on this software was $0.4 million for 2015, 2016 and 2017. 

To date, there have been no impairment charges to property and equipment.