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, 2024	$	69,336	3 years	$	(38,002	)	$	31,334
As of December 31, 2023		64,860	3 years		(33,230	)		31,630

The Company capitalized software development costs of $4.5 million in each of the three months ended March 31, 2024 and 2023.

Amortization expense for capitalized software development costs was $4.8 million and $3.7 million for the three months ended March 31, 2024 and 2023, respectively. Amortization of capitalized software development costs is classified within cost of revenue in the condensed consolidated statements of operations.

The expected amortization of capitalized software development costs, as of March 31, 2024, for each of the following years is as follows (in thousands):



2024 (for the remaining nine months)	$	12,375
2025		11,832
2026		6,833
2027		294
	$	31,334