Property and Equipment, Net, and Other Assets

3 Months Ended

Mar. 31, 2025

Property, Plant and Equipment [Abstract]

Property and Equipment, Net, and Other Assets

5. Property and Equipment, Net, and Other Assets

At March 31, 2025 and December 31, 2024, property and equipment, net, and other assets consisted of the following (in thousands):


	March 31,		December 31,
	2025		2024
	(Unaudited)
Property and equipment, net of accumulated depreciation of $3,281 and $3,492 as of March 31, 2025 and December 31, 2024, respectively	$	4,433	$	4,507
Right-of-use operating lease assets		1,192		1,305
Security deposits and other assets		677		683
Property and equipment, net, and other assets	$	6,302	$	6,495

We compute depreciation using the straight-line method over the estimated useful lives of the property and equipment. Depreciation expense for the three months ended March 31, 2025 was $241 thousand, including $202 thousand of depreciation expense reflected within “Cost of revenue” in our condensed consolidated statements of operations, as it related to assets used in directly servicing customer contracts. Depreciation expense for the three months ended March 31, 2024 was $173 thousand, including $134 thousand of depreciation expense reflected within “Cost of revenue”.

Right-of-use operating lease assets related to our office leases are recognized in accordance with ASC 842. Refer to Note 9, Leases for additional information.