Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment

v3.21.2
Property, Plant and Equipment
9 Months Ended
Sep. 30, 2021
Property, Plant and Equipment  
Property, Plant and Equipment

6.     Property, Plant and Equipment

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

As of

(in thousands)

September 30, 2021

December 31, 2020

Computers and peripheral equipment

    

$

16,738

    

$

14,577

Office furniture and equipment

 

1,104

 

1,124

Leasehold improvements

 

9,315

 

9,267

Capitalized software development costs

 

13,236

 

8,382

Less accumulated depreciation and amortization

 

(23,700)

 

(15,243)

Total property, plant and equipment, net

$

16,693

$

18,107

For the three months ended September 30, 2021 and 2020, total depreciation expense was $2.9 million and $1.6 million, respectively. For the nine months ended September 30, 2021 and 2020, total depreciation expense was $8.5 million and $4.7 million, respectively.

Property and equipment financed through capital lease obligations, consisting of computer equipment, totaled $12.3 million and $10.7 million on September 30, 2021 and December 31, 2020, respectively. As of September 30, 2021 and December 31, 2020, accumulated depreciation related to property and equipment financed through capital leases totaled $9.4 million and $7.6 million, respectively. Refer to Note 13, Commitments and Contingencies.