Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, Net

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Property and Equipment, Net
 3 Months Ended
Mar. 31, 2024
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,
2024		 December 31,
2023
Land $ 731  $ 731 
Building 60,679  60,679 
Leasehold improvements 17,896  15,348 
Processing equipment 13,445  13,116 
Furniture and equipment 9,821  8,741 
Projects in process 317  3,674 
Finance lease right-of-use assets 138  138 
Property and equipment, at cost 103,028  102,427 
Less: accumulated depreciation and amortization (15,190) (13,697)
Property and equipment, net $ 87,838  $ 88,730 
Depreciation expense is as follows:
Three Months Ended March 31,
(in thousands) 2024 2023
Depreciation expense $ 1,520  $ 709