Property and Equipment, Net

6 Months Ended

Jun. 30, 2025

Property, Plant and Equipment [Abstract]

5. Property and Equipment, Net

Property and equipment, net consisted of the following:


	June 30,			December 31,
(in thousands)	2025			2024
Furniture, fixtures and equipment	$	10,690		$	21,513
Leasehold improvements		23,228			23,228
Subtotal		33,918			44,741
Less: accumulated depreciation		(32,280	)		(37,026	)
Total property and equipment, net	$	1,638		$	7,715

Depreciation expense was $1.1 million and $2.0 million for the three and six months ended June 30, 2025, respectively, and $0.9 million and $1.7 million for the three and six months ended June 30, 2024, respectively.