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 Property and Equipment, Net
Property and equipment, net consist of the following:
(in thousands) September 30,
2023		 December 31,
2022
Land $ 731  $ 731 
Building 58,688  — 
Leasehold improvements 15,482  15,482 
Processing equipment 12,135  4,227 
Furniture and equipment 8,697  5,316 
Projects in process 6,122  63,703 
Finance lease right-of-use assets 131  131 
Property and equipment, at cost 101,986  89,590 
Less: accumulated depreciation and amortization (12,956) (10,296)
Property and equipment, net $ 89,030  $ 79,294 
Depreciation expense is as follows:
Three Months Ended September 30, Nine Months Ended September 30,
(in thousands) 2023 2022 2023 2022
Depreciation expense $ 1,154  $ 764  $ 2,660  $ 2,182