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Property, Equipment and Software | 3 Months Ended
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Mar. 31, 2024
Property, Plant and Equipment [Abstract] |
Property, Equipment and Software | Property, Equipment and Software A summary of property, equipment and software, net was as follows:
(in thousands) | March 31, 2024 |  | December 31, 2023 |  |  |  |
Computer software | $ | 85,933 |  |  | $ | 78,492 |  |  |  |  |
Equipment | 10,712 |  |  | 10,377 |  |  |  |  |
Leasehold improvements | 2,788 |  |  | 1,535 |  |  |  |  |
Furniture and fixtures | 1,442 |  |  | 1,442 |  |  |  |  |
Property, equipment and software | 100,875 |  |  | 91,846 |  |  |  |  |
Less: Accumulated depreciation | (59,549) |  |  | (56,442) |  |  |  |  |
Capital work in-progress | 6,794 |  |  | 9,276 |  |  |  |  |
Property, equipment and software, net | $ | 48,120 |  |  | $ | 44,680 |  |  |  |  |
|  |  | Three Months Ended March 31,
(in thousands) |  |  |  |  | 2024 |  | 2023
Depreciation expense |  |  |  |  | $ | 3,170 |  |  | $ | 2,757 |
Computer software represents purchased software and internally developed software that is used to provide the Company's services to its customers. Fully depreciated assets are retained in property, equipment and software, net, until removed from service. During the quarter ended March 31, 2024, certain fully depreciated assets were removed from 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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