XML 24 R13.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Property and Equipment, Net
 3 Months Ended
Mar. 31, 2024
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net Property and Equipment, Net
Property and equipment, net consisted of the following (in thousands):
March 31,
2024		December 31,
2023
Data center equipment
$39,167 $37,245 
Leased and financed data center equipment
69,021 68,757 
Machinery and equipment
14,322 14,004 
Computer equipment
2,405 2,472 
Leasehold improvements
1,114 1,114 
Construction-in-progress
1,246 1,371 
Total property and equipment
127,275 124,963 
Less: accumulated depreciation and amortization
(84,690)(79,363)
Total property and equipment, net
$42,585 $45,600 
Depreciation expense was $5.5 million and $5.0 million for the three months ended March 31, 2024 and 2023, respectively. For the Company’s equipment under finance leases and lease financing obligations, accumulated depreciation was $34.3 million and $31.6 million as of March 31, 2024 and December 31, 2023, respectively. The carrying value of the Company’s equipment under finance lease agreements and lease financing obligations was $34.7 million and $37.1 million as of March 31, 2024 and December 31, 2023, respectively.

The Company had long-lived assets, comprising of property and equipment, net and operating lease right-of-use assets consisting of the following (in thousands):

March 31, 2024December 31, 2023
United States$46,929 $50,746 
The Netherlands5,126 4,834 
Total property and equipment, net and operating lease right-of-use assets$52,055 $55,580