Quarterly report [Sections 13 or 15(d)]

Property and Equipment, Net

v3.25.1
Property and Equipment, Net
 3 Months Ended
Mar. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net Property and Equipment, Net
Property and equipment, net consist of the following:
(in thousands) March 31,
2025		 December 31,
2024
Land $ 731  $ 731 
Building 60,679  60,679 
Leasehold improvements 17,977  17,977 
Processing equipment 14,068  13,950 
Furniture and equipment 10,626  9,583 
Projects in process 710  1,499 
Finance lease right-of-use assets 159  159 
Property and equipment, at cost 104,950  104,578 
Less: accumulated depreciation and amortization (21,639) (19,911)
Property and equipment, net $ 83,311  $ 84,667 
Depreciation expense is as follows:
Three Months Ended March 31,
(in thousands) 2025 2024
Depreciation expense $ 1,728  $ 1,520