Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, Net

v3.24.2.u1
Property and Equipment, Net
6 Months Ended
Jun. 30, 2024
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,
2024
December 31,
2023
Land $ 731  $ 731 
Building 60,679  60,679 
Leasehold improvements 17,859  15,348 
Processing equipment 13,833  13,116 
Furniture and equipment 9,530  8,741 
Projects in process 713  3,674 
Finance lease right-of-use assets 138  138 
Property and equipment, at cost 103,485  102,427 
Less: accumulated depreciation and amortization (16,733) (13,697)
Property and equipment, net $ 86,752  $ 88,730 
Depreciation expense is as follows:
Three Months Ended June 30, Six Months Ended June 30,
(in thousands) 2024 2023 2024 2023
Depreciation expense $ 1,657  $ 798  $ 3,177  $ 1,506