Capitalized Software Costs

9 Months Ended

Dec. 31, 2022

9. Capitalized Software Costs

Our capitalized software costs are summarized as follows:


	December 31, 2022			March 31, 2022
Gross carrying amount	$	125,132		$	110,155
Accumulated amortization		(72,529	)		(66,197	)
Net capitalized software costs	$	52,603		$	43,958

Amortization expense related to capitalized software costs was $5,678 and $5,975 for the three months ended December 31, 2022 and 2021, respectively, and is recorded as cost of revenue in the condensed consolidated statements of net income and comprehensive income.

Amortization expense related to capitalized software costs was $16,403 and $17,592 for the nine months ended December 31, 2022 and 2021, respectively.

During the nine months ended December 31, 2022, we retired $9,141 of fully amortized capitalized software costs that are no longer being utilized by our client base.

The following table presents the remaining estimated amortization of capitalized software costs as of December 31, 2022. The estimated amortization is comprised of (i) amortization of released products and (ii) the expected amortization for products that are not yet available for sale based on their estimated economic lives and projected general release dates.


For the year ended March 31,
2023 (remaining three months)	$	8,300
2024		23,300
2025		13,200
2026		6,900
2027		903
Total	$	52,603