PROPERTY AND EQUIPMENT

6 Months Ended

Jun. 30, 2025

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

9. PROPERTY AND EQUIPMENT

Property and equipment consisted of the following:

(Dollars in thousands)	June 30, 2025			December 31, 2024
Internal-use software	$	15,355		$	15,225
Furniture and fixtures		52			28
Leasehold improvements		151			151
Computers and hardware		12			12
Total		15,570			15,416
Less accumulated depreciation and amortization		(2,363	)		(736	)
Total property and equipment, net	$	13,207		$	14,680

Depreciation expense related to property and equipment was $0.1 million and $0 for the six months ended June 30, 2025 and 2024, respectively. Amortization expense related to internal-use software was $1.5 million for the six months ended June 30, 2025.

The estimated future amortization expense of internal-use software as of June 30, 2025 was as follows:

(Dollars in thousands)
2025	$	1,535
2026		3,071
2027		3,071
2028		3,071
2029		2,374
	$	13,122

Beeline’s internal developers created a new proprietary software and launched it in 2024. The most notable feature of the new software is the integration of Beeline’s Chat API “Bob”. The Company recorded $0.1 million of additional purchases of internal-use software for the six months ended June 30, 2025.

Beeline Holdings, Inc.

Notes to Consolidated Financial Statements

June 30, 2025

(Unaudited)