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Property and Equipment (Tables)
12 Months Ended
Dec. 31, 2025
Property and Equipment  
Property and Equipment

Property and equipment consist of the following (in thousands):

As of December 31, 

Depreciable Life

2025

2024

Leasehold improvements

Shorter of estimated useful life or life of lease

$

9,875

$

9,838

Office furniture, fixtures and equipment

2 - 10 years

13,283

13,264

Total property and equipment

23,158

23,102

Less accumulated depreciation

(17,162)

(15,524)

Total property and equipment, net

$

5,996

$

7,578