v3.25.1
Property and Equipment
 3 Months Ended
Mar. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment consisted of the following for the periods presented (in thousands):
March 31, 2025December 31, 2024
Office equipment$5,187 $6,626 
Office furniture5,670 5,670 
Leasehold improvements2,796 2,763 
Capitalized internal-use software7,525 7,059 
Payment terminals2,409 2,308 
Property and equipment, gross23,587 24,426 
Less accumulated depreciation and amortization(15,025)(15,983)
Property and equipment, net$8,562 $8,443 
Depreciation and amortization expense on property and equipment (excluding amortization on operating right-of-use (“ROU”) assets) was $2.8 million and $3.0 million for the three months ended March 31, 2025 and 2024, respectively. Of this expense, $1.8 million for each of the three months ended March 31, 2025 and 2024 was related to phone hardware finance ROU assets (see also Note 6) and has been included in cost of revenue in the condensed consolidated statements of operations and comprehensive loss. Of the remaining depreciation and amortization expense, $0.5 million was included in cost of revenue in the statements of operations and comprehensive loss for each of the three months ended March 31, 2025 and 2024. $0.5 million and $0.7 million was recorded in operating expenses on the statements of operations and comprehensive loss for the three months ended March 31, 2025 and 2024, respectively.