As of June 30, 2025 and December 31, 2024, property and equipment, net consisted of the following:


	As of June 30, 2025			As of December 31, 2024
Capitalized equipment	$	7,843		$	7,880
Capitalized internal-use software		20,404			20,060
Capitalized website development		53,276			56,877
Furniture and fixtures		10,307			13,960
Leasehold improvements		85,890			95,691
Construction in progress		133			—
Finance lease right-of-use assets		89			155
		177,942			194,623
Less accumulated depreciation and amortization		(47,643	)		(64,613	)
Total	$	130,299		$	130,010

During the six months ended June 30, 2025, capitalized internal-use software increased $344. The increase was primarily due to $3,317 of additions. The increase was offset in part by the write-off of $2,204 of fully depreciated Digital-Wholesale assets and $769 of impairments of the Digital Wholesale segment capitalized internal-use software. For further discussion of impairments, refer to Note 6 of the Unaudited Condensed Consolidated Financial Statements.

During the six months ended June 30, 2025, capitalized website development costs decreased $3,601. The decrease was primarily due to the write-off of $13,396 of fully depreciated Digital Wholesale assets and $4,801 of impairments of the Digital Wholesale segment capitalized website development costs. The decrease was offset in part by additions of $14,596, related to continued net investment in the Company’s product offerings. For further discussion of impairments, refer to Note 6 of the Unaudited Condensed Consolidated Financial Statements.

During the six months ended June 30, 2025, furniture and fixtures and leasehold improvements decreased $3,653 and $9,801, respectively, primarily 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.

During the six months ended June 30, 2025, accumulated depreciation decreased $16,970 due primarily to the write-off of accumulated depreciation related to the impairments of CarOffer reporting unit assets in the Digital Wholesale segment. The Company wrote off $2,204 and $13,396 of accumulated amortization related to the capitalized internal-use software costs and capitalized website development costs, respectively. For further discussion of impairments, refer to Note 6 of the Unaudited Condensed Consolidated Financial Statements.

For the three months ended June 30, 2025 and 2024 and for the six months ended June 30, 2025 and 2024, depreciation and amortization expense, excluding amortization of intangible assets, amortization of capitalized hosting arrangements, disposals, and impairments, was $6,170, $4,906, $12,219, and $10,505, respectively.