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Property and Equipment, Net | 6 Months Ended
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Jun. 30, 2026
Property, Plant and Equipment [Abstract] |
Property and Equipment, Net | 6. Property and Equipment, Net As of June 30, 2026 and December 31, 2025, property and equipment, net consisted of the following:
|  | As of June 30, 2026 |  |  | As of December 31, 2025 |
|  | (dollars in thousands) |
Capitalized equipment |  | $ | 7,425 |  |  | $ | 7,445 |
Capitalized internal-use software |  |  | 23,857 |  |  |  | 22,701 |
Capitalized website development |  |  | 80,783 |  |  |  | 66,355 |
Furniture and fixtures |  |  | 8,069 |  |  |  | 10,294 |
Leasehold improvements |  |  | 77,506 |  |  |  | 86,127 |
|  |  | 197,640 |  |  |  | 192,922 |
Less accumulated depreciation and amortization |  |  | (68,090 | ) |  |  | (59,970 | )
Total |  | $ | 129,550 |  |  | $ | 132,952 |
For the three months ended June 30, 2026 and 2025 and for the six months ended June 30, 2026 and 2025, depreciation and amortization expense, excluding amortization of intangible assets, amortization of capitalized hosting arrangements, disposals, write-offs, and impairments, was $7.7 million, $5.6 million, $14.6 million, and $11.0 million, respectively. During the six months ended June 30, 2026, the Company impaired $1.0 million of capitalized website development costs, inclusive of $0.5 million recognized in cost of revenue and $0.5 million recognized in operating expense, in the Unaudited Condensed Consolidated Income Statements. These impairments were related to certain developed technology that the Company decided to cease investment. During the six months ended June 30, 2026, as a result of the impairment for the 121 First Street lease, the Company impaired $4.5 million of leasehold improvements and furniture and fixtures. For further discussion of the lease impairment, refer to Note 9 of these Unaudited Condensed Consolidated Financial Statements.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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