DoubleVerify Holdings, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment

Property, Plant and Equipment

3 Months Ended

Mar. 31, 2024

6. Property, Plant and Equipment

Property, plant and equipment, including equipment under finance lease obligations and capitalized software development costs, consisted of the following:


	As of
(in thousands)	March 31, 2024		December 31, 2023
Computers and peripheral equipment	$	25,982	$	25,013
Office furniture and equipment		3,334		3,170
Leasehold improvements		33,153		32,595
Capitalized software development costs		39,708		35,039
Less accumulated depreciation and amortization		(41,326)		(37,797)
Total property, plant and equipment, net	$	60,851	$	58,020

For the three months ended March 31, 2024 and March 31, 2023, total depreciation expense was $3.6 million and $2.7 million, respectively.

Property and equipment under finance lease obligations, consisting of computer equipment, totaled $17.8 million as of March 31, 2024 and December 31, 2023, respectively. As of March 31, 2024 and December 31, 2023, accumulated depreciation related to property and equipment under finance lease obligations totaled $13.6 million and $12.9 million, respectively. Refer to Note 7, Leases.

There were no impairments of Property, plant and equipment identified during the three months ended March 31, 2024 and March 31, 2023.