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Property and Equipment, net
12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment, net

Note 4. Property and Equipment, net

Property and equipment, net as of December 31, 2025 and 2024 consisted of the following (in thousands):

 

December 31,

 

 

2025

 

 

2024

 

Furniture and equipment

 

$

36,460

 

 

$

32,054

 

Capitalized software for internal use, acquired by business combination

 

 

467,477

 

 

 

490,346

 

Capitalized software for internal use, developed internally or otherwise purchased

 

 

163,266

 

 

 

125,973

 

Leasehold improvements

 

 

1,284

 

 

 

3,007

 

Total property and equipment

 

 

668,487

 

 

 

651,380

 

Less: accumulated depreciation and amortization

 

 

(417,622

)

 

 

(343,841

)

Property and equipment, net

 

$

250,865

 

 

$

307,539

 

Depreciation and amortization expense of property and equipment was approximately $111.8 million, $77.2 million, and $67.4 million, for the years ended December 31, 2025, 2024, and 2023, respectively.