| Software Development, Property and Equipment and Long-Lived Assets |
(3) Software Development, Property and Equipment and Long-Lived Assets Software development and property and equipment consist of the following as of September 30, 2026 and December 31, 2025 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, |
|
|
December 31, |
|
|
Useful Life |
|
2026 |
|
|
2025 |
|
Technology hardware |
3 years |
|
$ |
5,829 |
|
|
$ |
4,049 |
|
Manufacturing equipment |
2 - 10 years |
|
|
8,676 |
|
|
|
6,713 |
|
Capitalized software development |
3 years |
|
|
132,065 |
|
|
|
90,051 |
|
Leasehold improvements |
Shorter of useful life or lease term |
|
|
1,512 |
|
|
|
1,287 |
|
Furniture and fixtures |
7 years |
|
|
2,324 |
|
|
|
3,468 |
|
Total |
|
|
|
150,406 |
|
|
|
105,568 |
|
Less accumulated depreciation |
|
|
|
(58,618 |
) |
|
|
(44,937 |
) |
Software development and property and equipment, net |
|
|
$ |
91,788 |
|
|
$ |
60,631 |
|
Depreciation and amortization expense for the three and nine months ended September 30, 2026 and 2025 was as follows (in thousands):
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Cost of revenue |
$ |
179 |
|
|
$ |
184 |
|
|
$ |
538 |
|
|
$ |
550 |
|
Sales and marketing |
|
14 |
|
|
|
29 |
|
|
|
53 |
|
|
|
75 |
|
Operations and support |
|
76 |
|
|
|
46 |
|
|
|
145 |
|
|
|
129 |
|
Product development |
|
4,980 |
|
|
|
3,693 |
|
|
|
13,213 |
|
|
|
9,770 |
|
General and administrative |
|
62 |
|
|
|
155 |
|
|
|
522 |
|
|
|
539 |
|
Total depreciation and amortization expense |
$ |
5,311 |
|
|
$ |
4,107 |
|
|
$ |
14,471 |
|
|
$ |
11,063 |
|
|