Capitalized Software Development Costs, Net

3 Months Ended

Mar. 31, 2023

Capitalized Software Development Costs, Net

(5) Capitalized Software Development Costs, Net

Capitalized software development costs, net consisted of the following (in thousands):


	Gross carrying amount		Amortization period	Accumulated amortization			Net carrying amount
As of March 31, 2023	$	48,745	3 years	$	(20,553	)	$	28,192
As of December 31, 2022		92,115	3 years		(64,745	)		27,370

The Company capitalized software development costs of $4.5 million and $4.6 million for the three months ended March 31, 2023 and 2022, respectively.

Amortization expense for capitalized software development costs was $3.7 million and $2.8 million for the three months ended March 31, 2023 and 2022, respectively. Amortization of capitalized software development costs is classified within cost of revenue in the condensed consolidated statements of operations. During the three months ended March 31, 2023, the Company retired $47.9 million of fully amortized capitalized software development assets.

The expected amortization of capitalized software development costs, as of March 31, 2023, for each of the following years is as follows (in thousands):



2023 (for the remaining nine months)	$	10,528
2024		11,000
2025		6,332
2026		332
	$	28,192