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PROPERTY AND EQUIPMENT | 12 Months Ended
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Dec. 31, 2025
PROPERTY AND EQUIPMENT |
PROPERTY AND EQUIPMENT | (8) PROPERTY AND EQUIPMENT Property and equipment consisted of the following (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | December 31,
​ | ​ ​ ​ | Useful Life | ​ ​ ​ | 2025 | ​ ​ ​ | 2024
Equipment |  | 2-5 years | ​ | $ | 96,029 | ​ | $ | 84,409
Software |  | 2-5 years | ​ |  | 38,830 | ​ |  | 36,859
Furniture and fixtures |  | 3-5 years | ​ |  | 5,295 | ​ |  | 3,309
Leasehold improvements |  | Shorter of the estimated lease term or 10 years | ​ |  | 59,231 | ​ |  | 54,849
​ | ​ | ​ | ​ |  | 199,385 | ​ |  | 179,426
Less accumulated depreciation and amortization |  | ​ | ​ |  | (133,826) | ​ |  | (119,062)
Property and equipment, net |  | ​ | ​ | $ | 65,559 | ​ | $ | 60,364
​ As of December 31, 2025 and 2024, property and equipment included $3.9 million and $23.2 million, respectively, of assets that had not yet commenced depreciation. The 2024 assets primarily consisted of leasehold improvements and equipment, with the most significant portion related to construction at our new main campus in Petah Tikva, Israel that was completed and occupied in the 1st half of 2025, totaling $18.9 million as of December 31, 2024. The Company recorded depreciation and amortization expense related to property and equipment of $16.7 million, $13.5 million and $14.1 million for the years ended December 31, 2025, 2024 and 2023, respectively. During each of these years, the Company disposed of certain property and equipment that was fully depreciated at the time of disposal, which resulted in reductions in both Cost and Accumulated depreciation. The net book values of the Company’s property and equipment by geographic area were as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
​ | ​ ​ ​ | 2025 | ​ ​ ​ | 2024
Israel | ​ | $ | 32,198 | ​ | $ | 27,657
United States | ​ |  | 18,587 | ​ |  | 20,445
Asia/Pacific | ​ |  | 10,209 | ​ |  | 7,941
Canada | ​ |  | 3,206 | ​ |  | 3,071
Europe | ​ |  | 1,193 | ​ |  | 1,034
Other | ​ |  | 166 | ​ |  | 216
​ | ​ | $ | 65,559 | ​ | $ | 60,364
​

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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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