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Property and Equipment, Net | 9 Months Ended
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Sep. 30, 2023
Property, Plant and Equipment [Abstract] |
Property and Equipment, Net | Property and Equipment, Net Property and equipment, net consisted of the following (in thousands):
| September 30, 2023 |  | December 31, 2022
Data center equipment | $ | 35,244 |  |  | $ | 28,531 |
Leased and financed data center equipment | 69,570 |  |  | 62,300 |
Machinery and equipment | 14,728 |  |  | 11,613 |
Computer equipment | 2,429 |  |  | 2,503 |
Leasehold improvements | 1,110 |  |  | 1,268 |
Construction-in-progress | 510 |  |  | 3,636 |
Total property and equipment | 123,591 |  |  | 109,851 |
Less: accumulated depreciation | (74,018) |  |  | (60,476) |
Total property and equipment, net | $ | 49,573 |  |  | $ | 49,375 |
Depreciation expense was $5.5 million and $4.8 million for the three months ended September 30, 2023 and 2022, respectively, and was $15.8 million and $13.1 million for the nine months ended September 30, 2023 and 2022, respectively. For the Company’s equipment under finance leases and lease financing obligations, accumulated depreciation was $30.1 million and $24.5 million as of September 30, 2023 and December 31, 2022, respectively. The carrying value of the Company’s equipment under finance lease agreements and lease financing obligations was $39.4 million and $37.8 million as of September 30, 2023 and December 31, 2022, respectively. As of September 30, 2023, the Company had long-lived assets of $60.1 million, comprising of property and equipment, net and operating lease right-of-use assets, with $55.1 million located in the United States and $5.0 million located in the Netherlands. As of December 31, 2022, the Company had long-lived assets of $56.3 million, comprising of property and equipment, net and operating lease right-of-use assets, with $50.2 million located in the United States and $6.1 million located in the Netherlands.

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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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