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, 2023

5. Property, Plant and Equipment

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


	As of
(in thousands)	March 31, 2023		December 31, 2022
Computers and peripheral equipment	$	19,264	$	19,189
Office furniture and equipment		2,544		2,542
Leasehold improvements		31,492		29,678
Capitalized software development costs		24,579		22,026
Less accumulated depreciation and amortization		(29,037)		(26,401)
Total property, plant and equipment, net	$	48,842	$	47,034

For each of the three months ended March 31, 2023 and March 31, 2022, total depreciation expense was $2.7 million.

Property and equipment under finance lease obligations, consisting of computer equipment, totaled $12.3 million as of March 31, 2023 and December 31, 2022, respectively. As of March 31, 2023 and December 31, 2022, accumulated depreciation related to property and equipment under finance lease obligations totaled $11.4 million and $11.2 million, respectively. Refer to Note 6, Leases.