Property and Equipment, Net

6 Months Ended

Jun. 30, 2023

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, 2023			December 31, 2022
Furniture and equipment	5	$	1,655		$	1,655
Leasehold improvements (1)	9		8,233			7,081
System hardware	5		2,212			1,718
Office computers	3		8,167			7,553
Computer and system software	3		2,468			2,398
			22,735			20,405
Less accumulated depreciation and amortization			(14,077	)		(11,412	)
Property and equipment, net		$	8,658		$	8,993

(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 $1.5 million and $1.3 million for the three months ended June 30, 2023 and 2022, respectively. Depreciation and amortization expense for property and equipment was $2.9 million and $2.4 million for the six months ended June 30, 2023 and 2022, respectively.