Priority Technology Holdings Inc
For the period ended Dec 31, 2024. Filed Mar 6, 2025.
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FY2024 · Filed Mar 6, 2025
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6. Property, Equipment and Software
- Property, Equipment and Software
A summary of property, equipment and software, net was as follows:
| (in thousands) | December 31, 2024 | December 31, 2023 |
|---|---|---|
| Computer software | $104,683 | $78,492 |
| Equipment | 11,571 | 10,377 |
| Leasehold improvements | 2,718 | 1,535 |
| Furniture and fixtures | 1,365 | 1,442 |
| Property, equipment and software | 120,337 | 91,846 |
| Less: Accumulated depreciation | (70,258) | (56,442) |
| Capital work in-progress | 2,398 | 9,276 |
| Property, equipment and software, net | $52,477 | $44,680 |
| Years Ended December 31, | |||
|---|---|---|---|
| (in thousands) | 2024 | 2023 | 2022 |
| Depreciation expense | $13,896 | $11,494 | $9,511 |
Computer software represents purchased software and internally developed software that is used to provide the Company's services to its customers.
Fully depreciated assets are retained in property, equipment and software, net, until removed from service. During the year ended December 31, 2024 and 2023, certain fully depreciated assets were removed from service.
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