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Capitalized Software and Other Intangibles | 3 Months Ended
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Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Capitalized Software and Other Intangibles | Capitalized Software and Other Intangibles Capitalized software, net consists of the following:
|  | March 31, |  | December 31,
(in thousands) |  | 2025 |  | 2024
Capitalized software, net: |  |  |  |
System development costs |  | $ | 179,235 |  |  | $ | 173,444 |
Acquired developed technology |  | 48,500 |  |  | 48,500 |
Less: Accumulated amortization |  | (164,565) |  |  | (155,286) |
Total capitalized software, net |  | $ | 63,170 |  |  | $ | 66,658 |
Capitalized software, net Amortization of system development costs and acquired developed technology for three months ended March 31, 2025 and 2024 was $9.3 million and $10.2 million, respectively. System development costs capitalized in the three months ended March 31, 2025 and 2024 were $5.8 million and $3.8 million, respectively. Acquired developed technology was $48.5 million and is related to the acquisition of Hello Digit, Inc. on December 22, 2021. Intangible Assets The gross carrying amount and accumulated amortization, in total and by major intangible asset class are as follows:
|  | March 31, |  | December 31,
(in thousands) |  | 2025 |  | 2024
Intangible assets: |  |  |  |
Member relationships |  | $ | 34,500 |  |  | $ | 34,500 |
Trademarks |  | 5,626 |  |  | 5,626 |
Other |  | 3,000 |  |  | 3,000 |
Less: Accumulated amortization |  | (24,412) |  |  | (23,196) |
Total intangible assets, net |  | $ | 18,714 |  |  | $ | 19,930 |
Amortization of intangible assets for the three months ended March 31, 2025 and 2024 was $1.2 million and $1.9 million, respectively. Expected future amortization expense for intangible assets as of March 31, 2025 is as follows:
(in thousands) |  | Fiscal Years
2025 (remaining nine months) |  | $ | 3,713 |
2026 |  | 4,929 |
2027 |  | 4,929 |
2028 |  | 4,780 |
2029 |  | — |
2030 |  | — |
Thereafter |  | — |
Total(1) |  | $ | 18,351 |
(1)Total excludes indefinite lived intangible assets

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