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Property and Equipment, Net
 9 Months Ended
Sep. 30, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net
5. Property and Equipment, Net
Property and equipment consist of the following (in thousands):
As of,
September 30, 2023December 31, 2022
Capitalized internal-use software$10,409 $4,460 
Office equipment3,441 3,203 
Computer equipment647 639 
Furniture and fixtures6,825 6,683 
Leasehold improvements45,530 45,228 
Construction-in-progress— 82 
Asset retirement cost643 643 
Total property and equipment67,495 60,938 
Less accumulated depreciation and amortization(24,765)(15,101)
Total property and equipment, net$42,730 $45,837 
Depreciation and amortization expense related to property and equipment was approximately $3.3 million and $2.0 million for the three months ended September 30, 2023 and 2022, respectively, and $9.7 million and $6.1 million for the nine months ended September 30, 2023 and 2022, respectively.
During the three months ended September 30, 2023 and 2022, the Company capitalized $3.0 million and $0.6 million of internal-use software development costs, respectively. Of the $3.0 million internal-use software development costs capitalized during the three months ended September 30, 2023, $1.2 million is attributable to stock-based compensation expense. During the nine months ended September 30, 2023 and 2022, the Company capitalized $5.8 million and $1.5 million of internal-use software development costs, respectively. Of the $5.8 million internal-use software development costs capitalized during the nine months ended September 30, 2023, $1.2 million is attributable to stock-based compensation expense. The Company recorded amortization expense associated with its capitalized internal-use software development costs of $0.5 million and $0.2 million for the three months ended September 30, 2023 and 2022, respectively and $1.1 million and $0.5 million for the nine months ended September 30, 2023 and 2022, respectively. Amortization expense is included in cost of revenue in the Consolidated Statements of Operations and Comprehensive Loss.
The asset retirement obligation is included in other non-current liabilities on the Consolidated Balance Sheets. Asset retirement obligation activity is as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
Beginning balance$741 $704 $722 $685 
Additions— — — — 
Accretion10 9 29 28 
Ending balance$751 $713 $751 $713