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Property, Plant and Equipment | 6 Months Ended
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Jun. 30, 2024
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | 6. Property, Plant and Equipment Property, plant and equipment, net consisted of the following:
| As of June 30, |  | As of December 31, |  |
| 2024 |  | 2023 |
| (In thousands) |  |
Furniture and fixtures | $ | 16,020 |  |  | $ | 16,036 |  |  |
Computer and office equipment | 13,768 |  |  | 13,669 |  |  |
Telecommunications equipment | 83,973 |  |  | 82,991 |  |  |
Leasehold improvements | 75,736 |  |  | 75,437 |  |  |
Software | 15,901 |  |  | 12,552 |  |  |
Internal-use software development | 32,104 |  |  | 25,909 |  |  |
Automobile | 459 |  |  | 507 |  |  |
Land | 27,636 |  |  | 27,771 |  |  |
Land Improvements | 1,065 |  |  | 930 |  |  |
Total cost | 266,662 |  |  | 255,802 |  |  |
Less—accumulated depreciation | (93,262) |  |  | (77,938) |  |  |
Total property, plant and equipment, net | $ | 173,400 |  |  | $ | 177,864 |  |  |
The Company capitalized $2.7 million and $6.3 million of software development costs for the three and six months ended June 30, 2024, respectively, and $3.3 million and $5.0 million for the three and six months ended June 30, 2023, respectively. Amortization expense related to capitalized software development costs was $1.0 million and $2.0 million for the three and six months ended June 30, 2024, respectively, and $0.7 million and $1.4 million for the three and six months ended June 30, 2023, respectively. The Company recognized depreciation expense, which includes amortization of capitalized software development costs, as follows:
| Three months ended June 30, |  | Six months ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |
| (In thousands)
Cost of revenue | $ | 4,678 |  |  | $ | 4,205 |  |  | $ | 9,456 |  |  | $ | 7,734 |  |  |
Research and development | 1,631 |  |  | 748 |  |  | 3,228 |  |  | 1,262 |  |  |
Sales and marketing | 1,112 |  |  | 273 |  |  | 2,248 |  |  | 581 |  |  |
General and administrative | 543 |  |  | 234 |  |  | 1,085 |  |  | 503 |  |  |
Total depreciation expense | $ | 7,964 |  |  | $ | 5,460 |  |  | $ | 16,017 |  |  | $ | 10,080 |  |  |

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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/1943274/2147477798/958-360-50-6 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/1943274/2147477798/958-360-50-1 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/1943274/2147477798/958-360-50-7 + Details
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