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v3.25.1

Property and Equipment, Net | 3 Months Ended
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Mar. 31, 2025
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, 2025 |  | December 31, 2024
Data center equipment | $ | 57,079 |  |  | $ | 54,552 |
Leased and financed data center equipment | 68,496 |  |  | 65,037 |
Machinery and equipment | 17,705 |  |  | 16,872 |
Computer equipment | 2,261 |  |  | 2,239 |
Leasehold improvements | 244 |  |  | 244 |
Construction-in-progress(1) | 19 |  |  | 311 |
Total property and equipment | 145,804 |  |  | 139,255 |
Less: accumulated depreciation and amortization | (100,143) |  |  | (96,306) |
Total property and equipment, net | $ | 45,661 |  |  | $ | 42,949 |
________________ (1) Construction-in-progress relates to assets that have not yet been placed in service and is primarily comprised of hard drives that are not yet deployed. For the Company’s equipment under finance leases and lease financing obligations, accumulated depreciation was $30.0 million and $29.3 million as of March 31, 2025 and December 31, 2024, respectively. The carrying value of the Company’s equipment under finance lease agreements and lease financing obligations was $38.5 million and $35.7 million as of March 31, 2025 and December 31, 2024, respectively. The Company has long-lived assets, comprising of property and equipment, net and operating lease right-of-use assets in the following geographic areas (in thousands):
| March 31, 2025 |  | December 31, 2024
United States | $ | 49,967 |  |  | $ | 47,930 |
Canada | 3,145 |  |  | 3,309 |
The Netherlands | 7,514 |  |  | 7,583 |
Total property and equipment, net and operating lease right-of-use assets | $ | 60,626 |  |  | $ | 58,822 |

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