Capitalized Software

3 Months Ended

Mar. 31, 2026

Note 8. Capitalized Software

Capitalized software consisted of the following as of:


	March 31,		December 31,
	2026		2025
	(in thousands)

Capitalized software	$	102,651	$	96,215
Less: accumulated amortization	(40,041)		(37,247)
Capitalized software, net	$	62,610	$	58,968

Amortization expense was $3.3 million and $2.4 million for the three months ended March 31, 2026 and 2025, respectively. During the ordinary course of business, the Company may determine that certain capitalized features of its software will no longer be used either internally or to deliver value to its customers. The Company recorded a charge of $0.3 million and $0.4 million for the three

months ended March 31, 2026 and 2025, respectively, related to capitalized costs associated with abandoned projects, which are included in general and administrative expense on the unaudited condensed consolidated statements of operations and comprehensive income (loss).