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INTANGIBLE ASSETS AND GOODWILL | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS AND GOODWILL | INTANGIBLE ASSETS AND GOODWILL Intangible assets consist of the following as of December 31, 2024 and December 31, 2023:
(In thousands) | December 31, 2024 |  | December 31, 2023
Capitalized software | $ | 35,681 |  |  | $ | 26,895 |
Acquired technology | 1,007 |  |  | — |
Other intangible assets | 117 |  |  | 117 |
Total intangible assets | 36,805 |  |  | 27,012 |
Less: accumulated amortization | (16,906) |  |  | (11,017) |
Intangible assets, net | $ | 19,899 |  |  | $ | 15,995 |
The Company capitalized $9,024 and $10,394 of software development costs, with the majority of the costs being employee wages, during the years ended December 31, 2024 and 2023, respectively. The Company recognized $238 and $0 of impairment of capitalized software in Research and Development within the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss), during the years ended December 31, 2024 and 2023, respectively, which represents an impairment to write-off the capitalization of an internal-use software project prior to being launched to the user base. Amortization expense is included within the following financial statement line items within the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss).
|  |  | Year Ended December 31,
(In thousands) |  |  |  |  | 2024 |  | 2023 |  | 2022
Cost of revenues |  |  |  |  | $ | 5,310 |  |  | $ | 2,020 |  |  | $ | 870 |
Sales and marketing |  |  |  |  | 579 |  |  | 975 |  |  | 882 |
Total |  |  |  |  | $ | 5,889 |  |  | $ | 2,995 |  |  | $ | 1,752 |
The estimated future amortization expense of capitalized software and acquired technology with definite lives as of December 31, 2024 was as follows:
(In thousands) | Amortization Expense
2025 | $ | 8,493 |
2026 | 6,991 |
2027 | 3,750 |
2028 | 234 |
2029 | 157 |
Thereafter | 157 |
Total estimated future amortization expense | $ | 19,782 |
The following table represents the changes to goodwill during the twelve months ended December 31, 2024:
| Carrying amount
Balance as of December 31, 2023 | $ | 4,050 |
Acquisitions | 6,488 |
Balance as of December 31, 2024 | $ | 10,538 |
As of December 31, 2024 and December 31, 2023, $6,923 and $3,713 of goodwill is deductible for tax purposes, respectively.

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