Property, Equipment and Software, net

9 Months Ended

Sep. 30, 2025

Property, Plant and Equipment [Abstract]

Property, Equipment and Software, net

Note 10 — Property, Equipment and Software, net

Property, equipment and software, net consists of the following (in thousands):

	Useful Life (Years)	December 31,
		2024		2023
Furniture and fixtures	5	$	138	$	128
Computer equipment	3	20		20
Leasehold improvements	15	43		36
Capitalized software	3	702		702
Property, equipment and software, gross		903		886
Less: accumulated depreciation and amortization		(562)		(287)
Total property, equipment and software, net		$	341	$	599

The following table summarizes depreciation and amortization expense related to property, equipment and software by line item for the years ended December 31, 2024 and 2023 (in thousands):

	Year Ended December 31,
	2024		2023
Cost of revenues	$	167	$	218
General and administrative	108		35
Total depreciation and amortization	$	275	$	253

Note 10 — Property, Equipment and Software, net

Property, equipment and software, net consists of the following (in thousands):

	Useful Life (Years)	September 30, 2025		December 31, 2024
Furniture and fixtures	5	$	153	$	138
Computer equipment	3	20		20
Leasehold improvements	15	66		43
Capitalized software	3	702		702
Property, equipment and software, gross		941		903
Less: accumulated depreciation and amortization		(777)		(562)
Total property, equipment and software, net		$	164	$	341

The following table summarizes depreciation and amortization expense related to property, equipment and software by line item for the three and nine months ended September 30, 2025 and 2024 (in thousands):

	Three Months Ended  September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Cost of revenue	$	41	$	41	$	125	$	125
General and administrative	29		26		90		80
Total depreciation and amortization	$	70	$	67	$	215	$	205