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Capitalized Software, Net
12 Months Ended
Dec. 31, 2024
Capitalized Computer Software, Net [Abstract]  
Capitalized Software, Net Capitalized Software, Net
The following table presents details of our capitalized software, net as follows:
December 31,
(in thousands)
2024
2023
Capitalized software costs
$253,309
$170,645
Less: Accumulated amortization
(128,528)
(75,206)
Total capitalized software, net
$124,781
$95,439
For the years ended December 31, 2024, 2023 and 2022, amortization expense was $56.2 million, $43.9 million and
$26.4 million, respectively. Amortization had not started on $8.8 million of capitalized software costs that were not yet ready
for intended use as of December 31, 2024.
At December 31, 2024, the expected amortization of capitalized software, net that has been placed into service for
future periods was as follows:
(in thousands)
Year Ending December 31,
2025
$57,696
2026
41,894
2027
16,368
$115,958