Property and Equipment, Net

6 Months Ended

Jun. 30, 2022

Property Plant And Equipment [Abstract]

(4) Property and Equipment, Net

Property and equipment, net consisted of the following (in thousands):


	Useful life	As of			As of
	in years	June 30, 2022			December 31, 2021
Furniture and equipment	5	$	2,498		$	2,530
Leasehold improvements (1)	9		7,169			7,842
System hardware	5		1,616			1,357
Office computers	3		9,766			8,783
Computer and system software	3		2,578			2,694
			23,627			23,206
Less accumulated depreciation and amortization			(12,939	)		(11,021	)
Property and equipment, net		$	10,688		$	12,185

(1)

Lesser of the lease term or the estimated useful lives of the improvements, which may be up to 9 years.

Depreciation and amortization expense for property and equipment was $1.3 million and $0.9 million for the three months ended June 30, 2022 and 2021, respectively. Depreciation and amortization expense for property and equipment was $2.4 million and $1.7 million for the six months ended June 30, 2022 and 2021, respectively. The Company recognized $0.9 million of loss on disposal of assets related to the 2022 Strategic Realignment (as defined in Note 18). See Note 18 for details on the 2022 Strategic Realignment.