Quarterly report [Sections 13 or 15(d)]

Property and Equipment

v3.25.3
Property and Equipment
 9 Months Ended
Sep. 30, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment consisted of the following:
September 30, 2025 December 31, 2024
Office and computer equipment $ 976,149  $ 937,551 
Leasehold improvements 1,594,291  1,585,609 
Software developed 7,053,323  5,914,254 
9,623,763  8,437,414 
Accumulated depreciation and amortization (7,088,579) (5,982,533)
2,535,184  2,454,881 
Construction in progress 500,475  751,873 
Property and equipment, net $ 3,035,659  $ 3,206,754 
Depreciation expense was $0.4 million and $0.3 million for the three months ended September 30, 2025 and 2024, respectively. Depreciation expense was $1.2 million and $1.0 million for the nine months ended September 30, 2025 and 2024, respectively.
Construction in progress at September 30, 2025 and December 31, 2024, related primarily to internal use software in development.