Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, net

v3.24.3
Property and Equipment, net
 9 Months Ended
Sep. 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)

 

September 30,
2024

 

 

December 31,
2023

 

Machinery and equipment

 

$

11,199

 

 

$

11,249

 

Leasehold improvements

 

 

12,492

 

 

 

12,613

 

Computer equipment

 

 

3,512

 

 

 

3,481

 

Furniture and fixtures

 

 

302

 

 

 

438

 

Computer software

 

 

258

 

 

 

242

 

Construction in process

 

 

329

 

 

 

523

 

Property and equipment, gross

 

 

28,092

 

 

 

28,546

 

Less: Accumulated depreciation

 

 

(12,228

)

 

 

(10,833

)

Property and equipment, net

 

$

15,864

 

 

$

17,713

 

 

For the three and nine months ended September 30, 2024, depreciation expense for property and equipment was $1.1 million and $3.2 million, respectively, compared to $1.1 million and $3.1 million, respectively, for the three and nine months ended

September 30, 2023. Losses on disposal of fixed assets were $0.4 million for the three and nine months ended September 30, 2024, respectively.