Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, net

v3.24.2.u1
Property and Equipment, net
 6 Months Ended
Jun. 30, 2024
Property, Plant and Equipment [Abstract]  
Property and Equipment, net

Note 5. Property and Equipment, net

Property and equipment consist of the following:

 

(in thousands)

 

June 30,
2024

 

 

December 31,
2023

 

Machinery and equipment

 

$

11,908

 

 

$

11,249

 

Leasehold improvements

 

 

12,535

 

 

 

12,613

 

Computer equipment

 

 

3,512

 

 

 

3,481

 

Furniture and fixtures

 

 

447

 

 

 

438

 

Computer software

 

 

260

 

 

 

242

 

Construction in process

 

 

286

 

 

 

523

 

Property and equipment, gross

 

 

28,948

 

 

 

28,546

 

Less: Accumulated depreciation

 

 

(12,003

)

 

 

(10,833

)

Property and equipment, net

 

$

16,945

 

 

$

17,713

 

 

For the three and six months ended June 30, 2024, depreciation expense for property and equipment was $1.1 million and $2.1 million, respectively, compared to $1.2 million and $2.0 million, respectively, for the three and six months ended June 30, 2023.