v3.25.4
PROPERTY AND EQUIPMENT
12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

4. PROPERTY AND EQUIPMENT

 

Property and equipment consisted of the following as of December 31:

 

   2025   2024  

Depreciation and Amortization Est.

Useful Lives

   (in thousands)    
Land  $1,205   $1,205    
Buildings   7,072    6,933   39 Years
Leasehold Improvements   971    960   3-10 Years (Lesser of Life or Lease)
Equipment   20,034    18,277   3-10 Years
Property and Equipment - Gross   29,282    27,375    
Accumulated Depreciation   (19,119)   (17,675)   
Property and Equipment - Net  $10,163   $9,700    

 

The above amounts include capital related items of $1,190,000 and $341,000 as of December 31, 2025 and 2024, respectively, which had not yet been placed in service by the Company, and therefore no depreciation was recorded in the related periods for those assets. Depreciation and amortization expense was approximately $1,363,000 and $1,255,000 for the years ended December 31, 2025 and 2024, respectively.