XML 28 R11.htm IDEA: XBRL DOCUMENT v3.25.0.1
Property, Plant, and Equipment
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure PROPERTY AND EQUIPMENT
Property and equipment as of December 31, 2024 and 2023, consisted of the following (in thousands):
Estimated Useful Life
(in years)
20242023
Furniture and equipment
2 to 5
$8,273 $7,950 
Software development costs331,305 25,242 
Software
2 to 5
3,063 2,808 
Leasehold improvements
2 to 5
2,595 2,516 
Gross property and equipment45,236 38,516 
Less: accumulated depreciation and amortization(25,567)(23,999)
Property and equipment, net$19,669 $14,517 

We record the depreciation and amortization of our property and equipment as depreciation expense on our Consolidated Statements of Comprehensive Loss. We record depreciation expenses using the straight-line method over the estimated useful lives of the assets, as noted above. Depreciation and amortization expenses relating to property and equipment were $5,720 and $5,094 for the years ended December 31, 2024 and 2023, respectively.

We acquired software development costs from prior acquisitions and we continue to invest in software development. We are developing products which we intend to offer utilizing software as-a-service (“SaaS”). We follow the guidance of ASC 350-40, Intangibles—Goodwill and Other—Internal-Use Software, for development costs related to these new products. Costs incurred in the planning stage are expensed as incurred while costs incurred in the application and infrastructure stage are capitalized, assuming such costs are deemed to be recoverable. Costs incurred in the operating stage are generally expensed as incurred except for significant upgrades and enhancements. Capitalized software costs are amortized over the software’s estimated useful life, which management has determined to be three years. During the years ended December 31, 2024 and 2023, we capitalized $10,187 and $7,027 of software development costs, respectively.