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Capitalized Software and Other Intangibles
 6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Capitalized Software and Other Intangibles Capitalized Software and Other Intangibles
Capitalized software, net consists of the following:

June 30,December 31,
(in thousands)20252024
Capitalized software, net:
System development costs$185,844 $173,444 
Acquired developed technology48,500 48,500 
Less: Accumulated amortization
(173,551)(155,286)
Total capitalized software, net$60,793 $66,658 
Capitalized software, net

Amortization of system development costs and acquired developed technology for the three months ended June 30, 2025 and 2024 was $9.0 million and $10.1 million, respectively. System development costs capitalized in the three months ended June 30, 2025 and 2024 were $6.6 million and $5.4 million, respectively.

Amortization of system development costs and acquired developed technology for the six months ended June 30, 2025 and 2024 was $18.3 million and $20.4 million, respectively. System development costs capitalized in the six months ended June 30, 2025 and 2024 were $12.4 million and $9.2 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:

June 30,December 31,
(in thousands)20252024
Intangible assets:
Member relationships$34,500 $34,500 
Trademarks5,626 5,626 
Other3,000 3,000 
Less: Accumulated amortization
(25,640)(23,196)
Total intangible assets, net$17,486 $19,930 
Amortization of intangible assets for the three months ended June 30, 2025 and 2024 was $1.2 million and $1.9 million, respectively. Amortization of intangible assets for the six months ended June 30, 2025 and 2024 was $2.4 million and $3.8 million, respectively.

Expected future amortization expense for intangible assets as of June 30, 2025 is as follows:

(in thousands)Fiscal Years
2025 (remaining six months)$2,485 
20264,929 
20274,929 
20284,780 
2029— 
2030— 
Thereafter— 
Total (1)
$17,123 
(1) Total excludes indefinite lived intangible assets.