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CAPITALIZED SOFTWARE

12 Months Ended

Dec. 31, 2022

7.CAPITALIZED SOFTWARE

Capitalized software includes acquired software and direct labor and related expenses for software developed for sale for new products and enhancements to existing products.

The major components of capitalized software are as follows:


	As of December 31,
	2022		2021

Capitalized software	$	96,577	$	72,512
Less accumulated amortization		(62,197)		(45,179)
Capitalized software, net of accumulated depreciation		34,380		27,333
In-process capitalized software		4,632		6,109
Capitalized software, net	$	39,012	$	33,442

Software development costs capitalized for the years ended December 31, 2022, 2021 and 2020, excluding acquisitions were $14,888, $11,660 and $11,850, respectively. Capitalized software includes developed technology with an acquisition date fair value of $7,700, in connection with finalizing our purchase price acquisition allocation of the LCR-Dixon acquisition and was recorded during the year ended December 31, 2022.

Capitalized software amortization expense, including amortization of acquired technology for the years ended December 31, 2022, 2021 and 2020 was $17,018, $12,962 and $11,936, respectively, and is included in cost of revenues, software subscriptions in the consolidated statements of comprehensive loss. Amortization expense associated with the acquired LCR-Dixon developed technology from the acquisition date through December 31, 2022 was $3,208 and is included in the capitalized software amortization expense for the year ended December 31, 2022. Included in this amount is $642 that would have been recorded during the year ended December 31, 2021 had the fair value of acquired LCR-Dixon developed technology been available on the acquisition date.

In-process capitalized software at December 31, 2022 was not available for general release to customers as of the balance sheet date and therefore not included in the table below. Amortization expense of capitalized software available for general release to customers as of December 31, 2022 is as follows for all future years:


Year Ending December 31,
2023	$	16,281
2024		12,927
2025		4,506
2026		637
2027		29
Total	$	34,380