v3.25.2
Property and Equipment
6 Months Ended
Jun. 30, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment
7. Property and Equipment

Property and equipment consist of the following (in thousands):
Estimated useful
lives (years)
June 30, 2025December 31, 2024
Information technology
2 – 5
$10,108 $8,141 
Other
 7
69 69 
Total10,177 8,210 
Accumulated depreciation(3,733)(2,979)
Property and equipment—net$6,444 $5,231 

Information technology assets include software and consultant time used in the application, development and implementation of various systems including customer billing and resource management systems. As of June 30, 2025 and December 31, 2024, information technology includes $2.3 million and $2.3 million, respectively, of costs associated with assets not yet placed into service.

Depreciation expense recorded in the condensed consolidated statements of operations was $0.4 million and $0.3 million for the three months ended June 30, 2025 and 2024, respectively, and $0.7 million and $0.6 million for the six months ended June 30, 2025 and 2024, respectively.