Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.20.1
Property and Equipment
3 Months Ended
Mar. 31, 2020
Property and Equipment  
Property and Equipment

7.

Property and Equipment

Property and equipment consist of the following:

    

March 31,

    

December 31,

    

2020

2019

Furniture and equipment

$

2,209

$

2,059

Leasehold improvements

 

2,209

 

2,203

Processing equipment

 

2,822

 

2,772

Land

731

731

Projects in process

16,163

10,886

Property and equipment, at cost

24,134

18,651

Less: accumulated depreciation and amortization

 

(4,071)

 

(3,764)

Property and equipment, net

$

20,063

$

14,887

Depreciation expense for the three months ended March 31, 2020 and 2019 was $307 and $211, respectively.  The significant increase in projects in process is related to our Axogen Processing Center (“APC”) facility (See Note 12).