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Property and Equipment, Net
 12 Months Ended
Dec. 31, 2021
Property Plant And Equipment [Abstract]  
Property and Equipment, Net

(4) Property and Equipment, Net

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

 

 

 

Useful life

 

 

As of December 31,

 

 

 

in years

 

 

2021

 

 

2020

 

Furniture and equipment

 

 

5

 

 

$

2,530

 

 

$

2,041

 

Leasehold improvements (1)

 

 

9

 

 

 

7,842

 

 

 

4,944

 

System hardware

 

 

5

 

 

 

1,357

 

 

 

807

 

Office computers

 

 

3

 

 

 

8,783

 

 

 

6,547

 

Computer and system software

 

 

3

 

 

 

2,694

 

 

 

827

 

 

 

 

 

 

 

 

23,206

 

 

 

15,166

 

Less accumulated depreciation and amortization

 

 

 

 

 

 

(11,021

)

 

 

(7,392

)

Property and equipment, net

 

 

 

 

 

$

12,185

 

 

$

7,774

 

 

(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 for the years ended December 31, 2021, 2020 and 2019 was $3.8 million, $2.7 million and $2.2 million, respectively.