Property and Equipment, Net

3 Months Ended

Mar. 31, 2025

Property, Plant and Equipment [Abstract]

5. Property and Equipment, Net

As of March 31, 2025 and December 31, 2024, property and equipment, net consisted of the following:


	As of March 31, 2025			As of December 31, 2024
Capitalized equipment	$	7,837		$	7,880
Capitalized internal-use software		21,733			20,060
Capitalized website development		63,578			56,877
Furniture and fixtures		10,306			13,960
Leasehold improvements		85,891			95,691
Finance lease right-of-use assets		122			155
		189,467			194,623
Less accumulated depreciation and amortization		(57,084	)		(64,613	)
Total	$	132,383		$	130,010

During the three months ended March 31, 2025, capitalized website development costs increased $6,701 due to continued net investment in the Company's product offerings.

During the three months ended March 31, 2025, furniture and fixtures, and leasehold improvements decreased $3,654 and $9,800, respectively, due to disposals of fully depreciated assets within the U.S. Marketplace segment related to the expiration of the lease of office space at 55 Cambridge Parkway.

For the three months ended March 31, 2025 and 2024, depreciation and amortization expense, excluding amortization of intangible assets, amortization of capitalized hosting arrangements, and disposals, was $6,049 and $5,599, respectively.