Property, Software and Equipment, net

6 Months Ended

Jun. 30, 2025

Property, Plant and Equipment [Abstract]

Property, software and equipment, net, consist of the following (in thousands):


	June 30, 2025		December 31, 2024
Internal-use software	$	65,315	$	61,476
Computer equipment	719		688
Furniture and fixtures	240		240
Leasehold Improvements	1,668		1,668
Total property, software and equipment	67,942		64,072
Less: accumulated amortization and depreciation	(35,033)		(28,990)
Total property, software and equipment, net	$	32,909	$	35,082

Amortization and depreciation expense on property, software and equipment was approximately $3,027,000 and $2,258,000 for the three months ended June 30, 2025 and 2024, respectively, and $6,061,000 and $4,668,000 for the six months ended June 30, 2025 and 2024, respectively. Included in these amounts were the amortization of capitalized internal-use software costs of approximately $2,949,000 and $2,171,000, for the three months ended June 30, 2025 and 2024, respectively, and $5,904,000 and $4,493,000 for the six months ended June 30, 2025 and 2024, respectively.

There were no write-offs of internal-use software or resulting impairment losses recorded for the three months and six months ended June 30, 2025. The Company wrote off $70,000 of internal-use software for the six months

ended June 30, 2024. The resulting impairment loss of $70,000 for the six months ended June 30, 2024 is included in Technology and product development on the condensed consolidated statements of operations. There were no write-offs of internal-use software or resulting impairment losses recorded for the three months ended June 30, 2024.