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Property and Equipment | 12 Months Ended
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Dec. 31, 2023
Property, Plant and Equipment [Abstract] |
Property and Equipment | Property and Equipment Property and equipment, net, consisted of the following (in thousands):
| As of December 31,
| 2023 |  | 2022
Internal-use software | $ | 91,424 |  |  | $ | 67,371 |
Purchased software | 1,360 |  |  | 2,228 |
Furniture and office equipment | 1,797 |  |  | 2,518 |
Computer hardware | 7,588 |  |  | 14,074 |
Leasehold improvements | 1,476 |  |  | 1,985 |
Software development in-progress | — |  |  | 105 |
Total cost of property and equipment | 103,645 |  |  | 88,281 |
Less: accumulated depreciation and amortization | (55,413) |  |  | (57,458) |
Property and equipment, net | $ | 48,232 |  |  | $ | 30,823 |
Depreciation and amortization expense related to property and equipment was $20.2 million, $18.2 million and $15.7 million for 2023, 2022 and 2021, respectively. At December 31, 2023 and 2022 accumulated amortization in connection with internal-use software costs was $47.6 million and $41.0 million, respectively. In 2023, 2022 and 2021, we recorded amortization expense of $17.6 million, $14.6 million and $11.6 million, respectively, in connection with these costs. Software development in-progress consists primarily of internal-use software projects, which when placed in service, will provide enhancements and improvements to the operational and functional capabilities to our online platforms and our customer-facing website. In 2023, 2022 and 2021 we capitalized internal-use software development costs of $35.0 million, $21.4 million and $9.9 million respectively. In 2023 and 2022, no software development costs were impaired. In 2021, we impaired $0.9 million of capitalized software development costs related primarily to internal-use software projects that no longer met our business requirements or were no longer expected to be placed in service.

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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//1943274/2147480321/958-360-50-6 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//1943274/2147480321/958-360-50-1 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//1943274/2147480321/958-360-50-7 + Details
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