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Property and Equipment, net
 3 Months Ended
Mar. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment, net

Note 4. Property and Equipment, net

Property and equipment, net as of March 31, 2025 and December 31, 2024 consisted of the following (in thousands):

 

 

March 31, 2025

 

 

December 31, 2024

 

Furniture and equipment

 

$

32,316

 

 

$

32,054

 

Capitalized software for internal use, acquired by business combination

 

 

490,407

 

 

 

490,346

 

Capitalized software for internal use, developed internally or otherwise purchased

 

 

132,968

 

 

 

125,973

 

Leasehold improvements

 

 

3,022

 

 

 

3,007

 

Total property and equipment

 

 

658,713

 

 

 

651,380

 

Less: accumulated depreciation and amortization

 

 

(366,949

)

 

 

(343,841

)

Property and equipment, net

 

$

291,764

 

 

$

307,539

 

Depreciation and amortization expense of property and equipment was approximately $27.6 million and $15.5 million for the three months ended March 31, 2025 and 2024, respectively.