PROPERTY AND EQUIPMENT

3 Months Ended

Mar. 31, 2025

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

10. PROPERTY AND EQUIPMENT

Property and equipment consisted of the following:

(Dollars in thousands)	March 31, 2025			December 31, 2024
Internal-use software	$	15,290		$	15,225
Furniture and fixtures		654			654
Leasehold improvements		1,537			1,537
Computers and hardware		12			12
Vehicle		27			27
Total		17,520			17,455
Less accumulated depreciation and amortization		(3,490	)		(2,680	)
Total property and equipment, net	$	14,030		$	14,775

Depreciation expense related to property and equipment was $0.1 million and $22,653 for the three months ended March 31, 2025 and 2024, respectively. Amortization expense related to internal-use software was $0.8 million for the three months ended March 31, 2025.

The estimated future amortization expense of internal-use software as of March 31, 2025 was as follows:

(Dollars in thousands)
2025	$	2,300
2026		3,045
2027		3,045
2028		3,045
2029		2,330
	$	13,765

Beeline’s internal developers created a new proprietary software, Hive, and launched it in 2024. The most notable feature of the new software is the integration of Bob. The Company recorded $0.1 million of additional purchases of internal-use software for the three months ended March 31, 2025.

Beeline Holdings, Inc.

Notes to Consolidated Financial Statements

March 31, 2025

(Unaudited)