| Property and Equipment and Long-Lived Assets |
(5) Property and Equipment and Long-Lived Assets Property and equipment consist of the following as of September 30, 2024 and December 31, 2023 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
September 30, |
|
|
December 31, |
|
|
|
Useful Life |
|
2024 |
|
|
2023 |
|
|
|
|
|
|
|
|
|
|
Technology hardware |
|
3 years |
|
$ |
3,631 |
|
|
$ |
3,355 |
|
Manufacturing equipment |
|
2 - 9 years |
|
|
5,591 |
|
|
|
5,482 |
|
Capitalized software development |
|
3 years |
|
|
56,771 |
|
|
|
44,004 |
|
Leasehold improvements |
|
Shorter of useful
life or lease term |
|
|
1,775 |
|
|
|
1,365 |
|
Furniture and fixtures |
|
7 years |
|
|
2,684 |
|
|
|
2,630 |
|
Total |
|
|
|
|
70,452 |
|
|
|
56,836 |
|
Less accumulated depreciation |
|
|
|
|
(28,129 |
) |
|
|
(21,199 |
) |
Property and Equipment, net |
|
|
|
$ |
42,323 |
|
|
$ |
35,637 |
|
Depreciation and amortization expense for the three and nine months ended September 30, 2024 and 2023 was as follows (in thousands):
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|
|
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Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
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|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
Cost of revenue |
$ |
183 |
|
|
$ |
38 |
|
|
$ |
549 |
|
|
$ |
120 |
|
Sales and marketing |
|
24 |
|
|
|
29 |
|
|
|
77 |
|
|
|
33 |
|
Operations and support |
|
32 |
|
|
|
52 |
|
|
|
105 |
|
|
|
142 |
|
Product development |
|
1,940 |
|
|
|
1,252 |
|
|
|
5,786 |
|
|
|
3,872 |
|
General and administrative |
|
127 |
|
|
|
200 |
|
|
|
384 |
|
|
|
1,008 |
|
Total depreciation and amortization expense |
$ |
2,306 |
|
|
$ |
1,571 |
|
|
$ |
6,901 |
|
|
$ |
5,175 |
|
|