The Company records property, plant, and equipment at cost and includes finance lease assets in Property, plant and equipment, net in its condensed consolidated balance sheets. A summary of property, plant, and equipment as of June 28, 2025 and December 31, 2024, is as follows:


	June 28, 2025		December 31, 2024
(in thousands)
Manufacturing equipment	$	170,341	$	165,626
Research and development equipment	20,816		20,816
Leasehold improvements	18,455		18,165
Building	28,897		27,155
Finance leases	166,310		5,167
Software	2,740		2,742
Furniture and fixtures	945		941
Vehicles	595		594
Land	5,546		5,416
Assets not yet placed in service	37,928		38,747
Total property, plant and equipment	$	452,573	$	285,369
Less: accumulated depreciation and amortization	131,585		100,482
Property, plant and equipment, net	$	320,988	$	184,887

Depreciation and amortization expense in the three months ended June 28, 2025 and June 29, 2024 was $8.3 million and $5.2 million, respectively. Depreciation and amortization expense in the three months ended June 28, 2025 included $1.7 million in accelerated depreciation related to the reassessment of useful lives of certain assets resulting from the suspension and substantial cessation of the Company’s operational activities in China. Of the total depreciation and amortization expense in the three months ended June 28, 2025 and June 29, 2024, $6.1 million (including $1.7 million in accelerated depreciation related to the reassessment of

useful lives of certain assets resulting from the suspension and substantial cessation of the Company’s operational activities in China) and $4.5 million, respectively, were recorded in cost of goods sold, $2.1 million and $0.5 million, respectively, were recorded in research and development expenses, and $0.1 million and $0.2 million, respectively, were recorded in SG&A expenses, in the Company’s condensed consolidated statements of operations.

Depreciation and amortization expense in the six months ended June 28, 2025 and June 29, 2024 was $15.7 million and $12.2 million, respectively. Depreciation and amortization expense in the six months ended June 28, 2025 included $3.2 million in accelerated depreciation related to the reassessment of useful lives of certain assets resulting from the suspension and substantial cessation of the Company’s operational activities in China. Of the total depreciation and amortization expense in the six months ended June 28, 2025 and June 29, 2024, $12.0 million (including $2.3 million in accelerated depreciation related to the reassessment of useful lives of certain assets resulting from the suspension and substantial cessation of the Company’s operational activities in China) and $10.6 million, respectively, were recorded in cost of goods sold, $3.4 million (including $0.9 million in accelerated depreciation related to the reassessment of useful lives of certain assets resulting from the suspension and substantial cessation of the Company’s operational activities in China), and $1.1 million, respectively, were recorded in research and development expenses, and $0.3 million and $0.5 million, respectively, were recorded in SG&A expenses, in the Company’s condensed consolidated statements of operations.

The Company had $1.7 million and $1.9 million in property, plant and equipment concluded to meet the criteria for assets held for sale as of June 28, 2025 and December 31, 2024, respectively. The Company recorded $0.1 million and $0.2 million in loss on sale of fixed assets in the three months ended June 28, 2025 and June 29, 2024, respectively, and $0.2 million and $0.4 million in loss on sale of fixed assets in the six months ended June 28, 2025 and June 29, 2024, respectively.