Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, net

v3.23.3
Property and Equipment, net
 9 Months Ended
Sep. 30, 2023
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,
2023

 

 

December 31,
2022

 

Machinery and equipment

 

$

9,806

 

 

$

9,954

 

Leasehold improvements

 

 

12,528

 

 

 

2,432

 

Computer equipment

 

 

3,338

 

 

 

3,532

 

Furniture and fixtures

 

 

429

 

 

 

429

 

Computer software

 

 

236

 

 

 

231

 

Construction in process

 

 

498

 

 

 

9,026

 

Property and equipment, gross

 

 

26,835

 

 

 

25,604

 

Less: Accumulated depreciation

 

 

(9,625

)

 

 

(7,306

)

Property and equipment, net

 

$

17,210

 

 

$

18,298

 

 

For the three and nine months ended September 30, 2023, depreciation expense for property and equipment was $1.1 million and $3.1 million, respectively, compared to $0.7 million and $1.6 million, respectively, for the three and nine months ended September 30, 2022.