Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

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Property and Equipment
 3 Months Ended
Mar. 31, 2024
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment consisted of the following for the periods presented (in thousands):
March 31, 2024 December 31, 2023
Office equipment $ 6,065  $ 5,830 
Office furniture 6,416  6,416 
Leasehold improvements 2,759  2,731 
Fixed assets not placed in service —  25 
Capitalized internal-use software 7,132  6,827 
Payment terminals 2,410  2,354 
Property and equipment, gross 24,782  24,183 
Less accumulated depreciation and amortization (15,262) (14,261)
Property and equipment, net $ 9,520  $ 9,922 
Depreciation and amortization expense on property and equipment (excluding amortization on operating ROU assets) was $3.0 million for each of the three months ended March 31, 2024 and 2023. Of this expense, $1.8 million and $1.9 million for the three months ended March 31, 2024 and 2023, respectively, was related to phone hardware finance ROU assets (see also Note 7) and data center equipment and has been included in cost of revenue in the condensed consolidated statements of operations. Capitalized internal-use software amortization expense was $0.3 million for each of the three months ended March 31, 2024 and 2023, respectively, which has been included in the cost of revenue in the statements of operations. Capitalized implementation amortization expense was $0.1 million and zero for the three months ended March 31, 2024 and 2023, respectively, and has been included in operating expense in the condensed consolidated statements of operations.