Property and Equipment

3 Months Ended

Mar. 31, 2025

Property, Plant and Equipment [Abstract]

Property and Equipment

7. Property and Equipment

Property and equipment consist of the following (in thousands):

	Estimated useful lives (years)	March 31, 2025		December 31, 2024
Information technology	2 – 5	$	9,540	$	8,141
Other	7	69		69
Total		9,609		8,210
Accumulated depreciation		(3,308)		(2,979)
Property and equipment—net		$	6,301	$	5,231

Information technology assets include software and consultant time used in the application, development and implementation of various systems including customer billing and resource management systems. As of March 31, 2025 and December 31, 2024, information technology includes $2.7 million and $2.3 million, respectively, of costs associated with assets not yet placed into service.

Depreciation expense recorded in the condensed consolidated statements of operations was $0.3 million and $0.3 million for the three months ended March 31, 2025 and 2024, respectively.