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INTANGIBLE ASSETS AND GOODWILL | 3 Months Ended
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Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS AND GOODWILL | INTANGIBLE ASSETS AND GOODWILL Intangible assets, net, consist of the following:
(In thousands) | March 31, 2025 |  | December 31, 2024
Capitalized software | $ | 36,991 |  |  | $ | 35,681 |
Acquired technology | 1,007 |  |  | 1,007 |
Other indefinite-lived intangible assets | 117 |  |  | 117 |
Total intangible assets | 38,115 |  |  | 36,805 |
Less: accumulated amortization | (19,243) |  |  | (16,906) |
Intangible assets, net | $ | 18,872 |  |  | $ | 19,899 |
The Company capitalized $1,310 and $3,607 of software development costs, with the majority of the costs being employee wages, during the three months ended March 31, 2025 and 2024, respectively. Amortization expense is included within the following financial statement line items within the Company’s Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income.
|  |  | Three Months Ended March 31,
(In thousands) |  |  |  |  | 2025 |  | 2024 |  |
Cost of revenues |  |  |  |  | $ | 2,211 |  |  | $ | 848 |  |  |
Sales and marketing |  |  |  |  | 126 |  |  | 159 |  |  |
Total |  |  |  |  | $ | 2,337 |  |  | $ | 1,007 |  |  |
The estimated future amortization expense of capitalized software and acquired technology with definite lives as of March 31, 2025 was as follows:
(In thousands) | Amortization Expense
Remainder of 2025 | $ | 6,366 |
2026 | 7,417 |
2027 | 4,176 |
2028 | 482 |
2029 | 157 |
Thereafter | 157 |
Total estimated future amortization expense | $ | 18,755 |
The following table represents the changes to goodwill during the three months ended March 31, 2025:
| Carrying amount
Balance as of December 31, 2024 | $ | 10,538 |
Acquisitions | — |
Balance as of March 31, 2025 | $ | 10,538 |
As of March 31, 2025 and December 31, 2024, $6,795 and $6,923 of goodwill is deductible for tax purposes, respectively.

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