v3.26.1
Fixed Assets, Net
 6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Fixed Assets, Net

NOTE 5. FIXED ASSETS, NET

Fixed assets, net, as of June 30, 2026 and December 31, 2025 consisted of the following:

 

 

June 30, 2026

 

 

December 31, 2025

 

(in thousands)

 

(Unaudited)

 

 

 

 

Capitalized internal-use software costs

 

$

24,667

 

 

$

17,945

 

Computer and equipment

 

 

787

 

 

 

802

 

Other

 

 

144

 

 

 

144

 

   Property and equipment, gross

 

 

25,598

 

 

 

18,891

 

Less: accumulated depreciation

 

 

(5,545

)

 

 

(3,097

)

   Fixed assets, net

 

$

20,053

 

 

$

15,794

 

During the six months ended June 30, 2026, the Company capitalized $6.7 million of qualifying internal-use software development costs primarily related to the Company's existing technology platform as well as the Company's investment in proprietary Artificial Intelligence (“AI”) development.

Amortization expense related to capitalized internal-use software costs for the three and six months ended June 30, 2026 was $1.3 million and $2.4 million, respectively ($0.5 million and $1.0 million for the three and six months ended June 30, 2025, respectively).