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Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment
4. Property, Plant and Equipment
Property, plant and equipment, net consisted of the following:
As of December 31,Useful
Life
20252024
(In thousands)(In years)
Furniture and fixtures$15,845 $15,925 
5
Computer and office equipment14,789 13,967 
2 to 5
Telecommunications equipment92,829 82,608 
5 to 7
Leasehold improvements77,704 76,054 
5 to 15
Software22,302 24,916 
1 to 5
Internal-use software development44,198 35,499 
4
Automobile452 447 
3
Land27,636 27,636 Indefinite
Land Improvements1,065 1,065 
20
Total cost296,820 278,117 
Less—accumulated depreciation(122,569)(101,294)
Total property, plant and equipment, net$174,251 $176,823 
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 $25.7 million and $22.4 million as of December 31, 2025 and 2024, respectively.
The Company capitalized $10.5 million, $11.7 million, and $10.6 million of software development costs for the years ended December 31, 2025, 2024 and 2023, respectively.
Amortization expense related to capitalized software development costs was $6.9 million, $4.2 million, and $3.2 million for the years ended December 31, 2025, 2024 and 2023, respectively. As of December 31, 2025, all implementation costs related to cloud computing arrangements were fully amortized.
The Company recognized no material impairment during the years ended December 31, 2025, 2024 and 2023, related to capitalized software development costs that provided no future benefit.
The Company recognized depreciation expense, which includes amortization of capitalized software development costs, as follows:
Year ended December 31,
202520242023
(In thousands)
Cost of revenue$20,673 $18,532 $16,273 
Research and development7,243 6,476 3,977 
Sales and marketing4,903 4,455 2,628 
General and administrative2,851 2,276 1,565 
Total depreciation expense$35,670 $31,739 $24,443