Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, Net

v3.23.2
Property and Equipment, Net
 6 Months Ended
Jun. 30, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net Property and Equipment, Net
Property and equipment, net consist of the following:
(in thousands) June 30,
2023		 December 31,
2022
Land $ 731  $ 731 
Building 7,009  — 
Leasehold improvements 15,482  15,482 
Processing equipment 4,597  4,227 
Furniture and equipment 7,988  5,316 
Projects in process 63,323  63,703 
Finance lease right-of-use assets 131  131 
Property and equipment, at cost 99,261  89,590 
Less: accumulated depreciation and amortization (11,802) (10,296)
Property and equipment, net $ 87,459  $ 79,294 
Depreciation expense is as follows:
Three Months Ended June 30, Six Months Ended June 30,
(in thousands) 2023 2022 2023 2022
Depreciation expense $ 798  $ 713  $ 1,506  $ 1,418