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Property and Equipment, Net
3 Months Ended
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
Internally developed software (1)
$7,481 $7,479 
Leasehold improvements9,785 9,759 
Equipment3,769 3,743 
Furniture and fixtures1,814 1,810 
Construction in progress267 260 
Total property and equipment, gross23,116 23,051 
Less: accumulated depreciation(18,656)(18,180)
Total$4,460 $4,871 
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(1) The net book value of our internally developed software was $0.3 million as of both March 31, 2025 and December 31, 2024 and primarily relates to certain portions of our playboy.com site.
The aggregate depreciation expense related to property and equipment, net was $0.4 million and $1.4 million for the three months ended March 31, 2025 and 2024, respectively.