Property and Equipment

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

The following table summarizes the Company’s property and equipment:

	December 31,
(in thousands)	2023		2022
Equipment	$	15,525	$	8,153
Furniture and fixtures	13,588		3,704
Software	27,554		26,848
Leasehold improvements	59,260		15,466
Subtotal	115,927		54,171
Less: Accumulated depreciation and amortization	(49,591)		(45,414)
Property and equipment, net	$	66,336	$	8,757

Depreciation and amortization expense related to property and equipment was $4.2 million, $4.4 million and $4.1 million for the years ended December 31, 2023, 2022 and 2021, respectively.

Depreciation and amortization expense related to property and equipment is recorded using the straight-line method over the estimated useful lives of the related assets which range from 3-7 years. Leasehold improvements are amortized using the straight-line method over the lease term.