COST OF REVENUE

12 Months Ended

Dec. 31, 2023

Cost of Revenue [Abstract]

COST OF REVENUE

COST OF REVENUE

Cost of revenue principally includes payroll and employee benefits associated with personnel employed in customer service, operations and technology roles, fees paid to external providers related to the provision of services, reimbursable expenses, technology and telecommunications costs as well as depreciation and amortization of operating assets. The components of cost of revenue were as follows for the years ended December 31:

(in thousands)	2023		2022
Outside fees and services	$	55,858	$	55,979
Compensation and benefits	35,396		48,064
Technology and telecommunications	14,196		16,937
Reimbursable expenses	8,273		8,039
Depreciation and amortization	1,691		2,286
Total	$	115,414	$	131,305

Transactions with Related Parties

The Company recognized $0.7 million and $0.5 million for the years ended December 31, 2023 and 2022, respectively of reimbursable expenses relating to services provided to Aldridge Pite. As of December 31, 2023, the Company had no payable to Aldridge Pite