Property and Equipment

9 Months Ended

Sep. 30, 2025

Property, Plant and Equipment [Abstract]

Property and equipment consist of the following (in thousands):


	September 30, 2025		December 31, 2024
Computer equipment	$	6,912	$	6,428
Capitalized software development	14,538		12,212
Leasehold improvements	1,137		1,103
Furniture	1,220		1,211
Total property and equipment	23,807		20,954
Less: accumulated depreciation and amortization	(15,777)		(13,076)
Property and equipment, net	$	8,030	$	7,878

As discussed in Note 2, “Summary of Significant Accounting Policies - Capitalized Software Development Costs”, the Company capitalizes costs related to the development of computer software for internal use or related to the development of product offerings and is included in capitalized software development costs within property and equipment, net on the unaudited condensed consolidated balance sheets.

Depreciation and amortization expense relating to the Company’s property and equipment was $0.8 million and $2.5 million for the three and nine months ended September 30, 2025, respectively. Depreciation and amortization expense relating to the Company’s property and equipment was $0.9 million and $2.8 million for the three and nine months ended September 30, 2024, respectively.

During the fourth quarter of the year ended December 31, 2024, the Company identified a triggering event related to the primary law finite-lived intangible asset and the capitalized software development costs associated with the integration of the primary law intangible asset into the Company’s product offerings as it was no longer probable of being completed. Impairment charges of $1.2 million were recorded against the capitalized software development related to the integration of the primary law intangible asset. Refer to Note 9, “Goodwill and Intangible Assets” regarding the details of the impairment charge.