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Property and Equipment
 12 Months Ended
Dec. 31, 2020
Property Plant And Equipment [Abstract]  
Property and Equipment

(4) Property and Equipment

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

 

 

 

Useful life

 

 

As of December 31,

 

 

 

in years

 

 

2020

 

 

2019

 

Furniture and equipment

 

 

5

 

 

$

2,041

 

 

$

1,785

 

Leasehold improvements (1)

 

 

9

 

 

 

4,944

 

 

 

4,074

 

System hardware

 

 

5

 

 

 

807

 

 

 

1,596

 

Office computers

 

 

3

 

 

 

6,547

 

 

 

5,309

 

Computer and system software

 

 

3

 

 

 

827

 

 

 

1,451

 

 

 

 

 

 

 

 

15,166

 

 

 

14,215

 

Less accumulated depreciation and amortization

 

 

 

 

 

 

(7,392

)

 

 

(7,931

)

Property and equipment, net

 

 

 

 

 

$

7,774

 

 

$

6,284

 

 

(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 the years ended December 31, 2020, 2019 and 2018 was $2.7 million, $2.2 million and $1.8 million, respectively.