v3.25.2
Capitalized Software Development Costs
6 Months Ended
Jun. 30, 2025
Research and Development [Abstract]  
Capitalized Software Development Costs

9. Capitalized Software Development Costs

Capitalized software development costs, exclusive of those recorded within property and equipment, consisted of the following:
 

 

 

June 30, 2025

 

 

December 31, 2024

 

 

 

(in thousands)

 

Gross capitalized software development costs

 

$

457,651

 

 

$

374,127

 

Accumulated amortization

 

 

(266,574

)

 

 

(219,643

)

Capitalized software development costs, net

 

$

191,077

 

 

$

154,484

 

These capitalized software development costs are associated with software developed for the Company's customer platform. Capitalized software development costs recorded within property and equipment are associated with software developed for Company use.

Amortization of capitalized software development costs, exclusive of costs recorded within property and equipment, was $29.3 million for the three months ended June 30, 2025, $55.6 million for the six months ended June 30, 2025, $17.8 million for three months ended June 30, 2024, and $33.8 million for the six months ended June 30, 2024. Amortization expense is included in cost of subscription revenue in the consolidated statement of operations.