| Property and Equipment, Net |
| 5. |
Property and Equipment, Net |
Property and equipment, net consisted
of the following (in thousands):
| | |
As of December 31, | |
| | |
2025 | | |
2024 | |
| Land | |
$ | 6,954 | | |
$ | 6,882 | |
| Buildings | |
| 45,576 | | |
| 46,812 | |
| Machinery and equipment | |
| 19,181 | | |
| 19,765 | |
| Computer and software | |
| 13,226 | | |
| 12,775 | |
| Leasehold improvements | |
| 3,157 | | |
| 3,293 | |
| Capitalized software | |
| 34,490 | | |
| 33,738 | |
| Furniture and fixtures | |
| 2,441 | | |
| 2,024 | |
| Construction in progress(1) | |
| 1,773 | | |
| 1,736 | |
| | |
| 126,798 | | |
| 127,025 | |
| Accumulated depreciation and amortization | |
| (81,790 | ) | |
| (75,850 | ) |
| Property and equipment, net | |
$ | 45,008 | | |
$ | 51,175 | |
| (1) | Property construction-in-progress is stated at cost and not depreciated. The property would be transferred to its respective account within property and equipment upon completion. |
Depreciation and amortization expense
associated with property and equipment was $7.6 million, $10.7 million and $13.0 million for the years ended December 31, 2025,
2024 and 2023, respectively.
|