| Selected Balance Sheet Components |
Selected Balance Sheet Components Inventory
Inventory consisted of the following: | | | | | | | | | | | | | | | | (In thousands) | | June 30, 2025 | | December 31, 2024 | | Raw materials | | $ | 11,236 | | | $ | 12,827 | | | Work-in-process | | 2,054 | | | 1,571 | | | Finished goods | | 3,541 | | | 2,975 | | | Total inventory | | $ | 16,831 | | | $ | 17,373 | |
Property and Equipment
Property and Equipment, net consisted of the following:
| | | | | | | | | | | | | | | | (In thousands) | | June 30, 2025 | | December 31, 2024 | | Machinery and equipment | | $ | 13,258 | | | $ | 12,161 | | | Furniture, fixtures and office equipment | | 5,198 | | | 5,109 | | | Computer equipment and software | | 15,967 | | | 12,318 | | | Leasehold improvements | | 75,507 | | | 77,990 | | | Construction in process | | 25,847 | | | 22,482 | | | | | | | | Total property and equipment, gross | | 135,777 | | | 130,060 | | | Less accumulated depreciation | | (25,929) | | | (26,899) | | | Total property and equipment, net | | $ | 109,848 | | | $ | 103,161 | |
Depreciation expense for the three and six months ended June 30, 2025 was $2.7 million and $5.2 million, respectively, and $1.2 million and $2.4 million, respectively, for the same periods in 2024.
Intangible Assets
Intangible assets, net consisted of the following:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | December 31, 2024 | | (In thousands) | | Useful Life (in years) | | Amortization Method | | Cost | | Accumulated Amortization | | Net | | Cost | | Accumulated Amortization | | Net | | NexoBrid license | | 12 | | Straight-line | | $ | 7,500 | | | $ | (1,562) | | | $ | 5,938 | | | $ | 7,500 | | | $ | (1,250) | | | $ | 6,250 | | | | | | | | | | | | | | | | | | |
Amortization expense for the three and six months ended June 30, 2025 was $0.2 million and $0.3 million, respectively, and $0.2 million and $0.3 million, respectively, for the same periods in 2024.
Future amortization expense of intangible assets as of June 30, 2025 is estimated to be as follows:
| | | | | | | | | | (In thousands) | | Amount | | Remainder of 2025 | | $ | 313 | | | 2026 | | 625 | | | 2027 | | 625 | | | 2028 | | 625 | | | 2029 | | 625 | | | Thereafter | | 3,125 | | | Total | | $ | 5,938 | |
Accrued Expenses
Accrued Expenses consisted of the following: | | | | | | | | | | | | | | | | (In thousands) | | June 30, 2025 | | December 31, 2024 | | Bonus-related compensation | | $ | 6,423 | | | $ | 10,313 | | | Employee-related accruals | | 4,577 | | | 3,269 | | | Insurance reimbursement-related liabilities | | 2,861 | | | 3,159 | | | Other accrued expenses | | 543 | | | 324 | | | Total accrued expenses | | $ | 14,404 | | | $ | 17,065 | |
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