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Property, Equipment and Software
 3 Months Ended
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, 2024December 31, 2023
Computer software$85,933 $78,492 
Equipment10,712 10,377 
Leasehold improvements2,788 1,535 
Furniture and fixtures1,442 1,442 
Property, equipment and software100,875 91,846 
Less: Accumulated depreciation(59,549)(56,442)
Capital work in-progress6,794 9,276 
Property, equipment and software, net$48,120 $44,680 
Three Months Ended March 31,
(in thousands)20242023
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.