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Property, Plant and Equipment
 12 Months Ended
Dec. 31, 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 December 31,Useful
Life
20242023
(In thousands)(In years)
Furniture and fixtures$15,925 $16,036 
5
Computer and office equipment13,967 13,669 
2 to 5
Telecommunications equipment82,608 82,991 
5 to 7
Leasehold improvements76,054 75,437 
5 to 15
Software24,916 12,552 
1 to 5
Internal-use software development35,499 25,909 
4
Automobile447 507 
3
Land27,636 27,771 Indefinite
Land Improvements1,065 930 
20
Total cost278,117 255,802 
Less—accumulated depreciation(101,294)(77,938)
Total property, plant and equipment, net$176,823 $177,864 
The Company capitalizes the costs to design software for internal use related to the development of its platform during the application development stage of the projects. The costs are primarily comprised of salaries and benefits of the projects’ engineers and product development teams. Internally developed software is reported at cost less accumulated amortization. Amortization begins once the project is substantially complete and ready for its intended use. Costs incurred prior to the application development stage, maintenance activities or minor upgrades are expensed in the period incurred. Unamortized software development costs were approximately $22.4 million and $15.3 million as of December 31, 2024 and 2023, respectively.
The Company capitalized $11.7 million, $10.6 million, and $3.8 million of software development costs for the years ended December 31, 2024, 2023 and 2022, respectively.
Amortization expense related to capitalized software development costs was $4.2 million, $3.2 million, and $2.2 million for the years ended December 31, 2024, 2023 and 2022, respectively. As of December 31, 2024, unamortized implementation costs related to cloud computing arrangements were less than $0.1 million, which is included in prepaid expenses and other current assets.
The Company leases automobiles under leases accounted for as finance leases, which expire on various dates between 2025 and 2026. As of December 31, 2024, cost and accumulated depreciation of the assets under finance leases recorded by the Company were $0.4 million and $0.4 million, respectively. As of December 31, 2023, cost and accumulated depreciation of the assets under finance leases recorded by the Company were $0.5 million and $0.3 million, respectively.
The Company recognized an impairment of $0.3 million during the year ended December 31, 2024, and $0.5 million in each of the years ended December 31, 2023 and 2022, related to capitalized software development costs that provided no future benefit. This expense is reflected within other income, net in the accompanying consolidated statements of operations.
The Company recognized depreciation expense, which includes amortization of capitalized software development costs, as follows:
Year ended December 31,
202420232022
(In thousands)
Cost of revenue$18,532 $16,273 $13,602 
Research and development6,476 3,977 2,311 
Sales and marketing4,455 2,628 1,331 
General and administrative2,276 1,565 1,175 
Total depreciation expense$31,739 $24,443 $18,419