Quarterly report [Sections 13 or 15(d)]

Property and Equipment

v3.25.1
Property and Equipment
3 Months Ended
Mar. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment consisted of the following:
March 31,
2025
December 31,
2024
Office and computer equipment $ 993,615  $ 920,546 
Leasehold improvements 1,533,190  1,531,348 
Software developed 6,198,491  5,914,254 
8,725,296  8,366,148 
Accumulated depreciation and amortization (6,288,127) (5,951,139)
2,437,169  2,415,009 
Construction in progress 624,494  751,873 
Property and equipment, net $ 3,061,663  $ 3,166,882 
Depreciation expense was $0.4 million and $0.3 million for the three months ended March 31, 2025 and 2024, respectively.
Construction in progress at March 31, 2025, and December 31, 2024, related primarily to internal use software in development.