| Property and Equipment, net |
Property and Equipment, Net Property and equipment consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30,
2022 |
|
December 31,
2021 |
| Furniture and equipment |
$ |
5,192 |
|
|
$ |
5,100 |
|
| Leasehold improvements |
15,490 |
|
|
14,952 |
|
| Processing equipment |
4,156 |
|
|
3,984 |
|
| Land |
731 |
|
|
731 |
|
| Projects in process |
54,341 |
|
|
45,660 |
|
| Finance lease right-of-use assets |
110 |
|
|
110 |
|
| Property and equipment, at cost |
80,020 |
|
|
70,537 |
|
| Less: accumulated depreciation and amortization |
(9,032) |
|
|
(7,614) |
|
| Property and equipment, net |
$ |
70,988 |
|
|
$ |
62,923 |
|
The Company further added to its projects in process total which is related to our Axogen Processing Center (“APC Facility”). See "Note 12 - Commitments and Contingencies."
Depreciation expense consisted of following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June, 30 |
|
Six Months Ended June 30, |
|
2022 |
|
2021 |
|
2022 |
|
2021 |
| Depreciation expense |
$ |
713 |
|
|
$ |
633 |
|
|
$ |
1,418 |
|
|
$ |
1,405 |
|
|