Company: FLYW
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027078
Chunk: 38

Company: Flywire Corp
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 38
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,879

        2,139

        Current portion of operating lease liabilities

        1,719

        1,465

        Current portion of contingent consideration

        4,113

        2,053

        Other accrued expenses and current liabilities

        10,945

        7,447

        $
        49,297

        $
        43,315

Note 8. Property and Equipment, net Property and equipment, net consisted of the following as of the dates presented (dollars in thousands): 

        Estimated Useful Life
         
        December 31,

        (Years)
         
        2024

        2023

        Computer equipment and software
         
        3 - 5
         
        $
        3,907

        $
        3,681

        Internal-use software
         
        5

        23,378

        18,135

        Furniture and fixtures
         
        3

        904

        912

        Leasehold improvements
         
        Shorter of lease termor useful life

        5,456

        5,431

        33,645

        28,159

        Less: Accumulated depreciation and amortization*

        (16,485
        )

        (13,025
        )

        $
        17,160

        $
        15,134

       *  For the year ended December 31, 2024, accumulated depreciation and amortization expense included $(348) thousand of computer disposalsand $(1,290) thousand of foreign currency translation adjustments. For the year ended December 31, 2023, accumulated depreciation and amortization expense included $(167) thousand of computer disposals and $54 thousand of foreign currency translation adjustments. Depreciation of property and equipment and amortization of internal-used software was $5.1 million, $4.2 million and $3.2 million for the years ended December 31, 2024, 2023 and 2022, respectively. The Company capitalized $5.2 million and $5.0 million in costs related to internal-use software during the years ended December 31, 2024 and 2023. 

132

As of December 31, 2024 and 2023, the carrying value of internal-used software was $15.4 million and $12.7 million, respectively.