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

6 Months Ended

Jun. 30, 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)	June 30, 2024		December 31, 2023
Computers and peripheral equipment	$	26,360	$	25,013
Office furniture and equipment		3,554		3,170
Leasehold improvements		34,766		32,595
Capitalized software development costs		44,865		35,039
Less accumulated depreciation and amortization		(45,024)		(37,797)
Total property, plant and equipment, net	$	64,521	$	58,020

For the three months ended June 30, 2024 and June 30, 2023, total depreciation expense was $3.9 million and $3.3 million, respectively. For the six months ended June 30, 2024 and June 30, 2023, total depreciation expense was $7.5 million and $6.1 million, respectively.

Property and equipment under finance lease obligations, consisting of computer equipment, totaled $17.8 million as of June 30, 2024 and December 31, 2023, respectively. As of June 30, 2024 and December 31, 2023, accumulated depreciation related to property and equipment under finance lease obligations totaled $14.0 million and $12.9 million, respectively. Refer to Note 7, Leases.

There were no impairments of Property, plant and equipment identified during the six months ended June 30, 2024 and June 30, 2023.