v3.26.1
Selected Balance Sheet Components
 3 Months Ended
Mar. 31, 2026
Balance Sheet Related Disclosures [Abstract]  
Selected Balance Sheet Components Selected Balance Sheet Components
Inventory

Inventory consisted of the following:
(In thousands)March 31, 2026December 31, 2025
Raw materials$13,751 $12,953 
Work-in-process1,507 1,584 
Finished goods3,093 3,023 
Total inventory$18,351 $17,560 
Property and Equipment

Property and Equipment, net consisted of the following:

(In thousands)March 31, 2026December 31, 2025
Machinery and equipment$26,086 $14,498 
Furniture, fixtures and office equipment5,690 5,424 
Computer equipment and software19,078 18,953 
Leasehold improvements81,393 76,421 
Construction in process9,527 24,651 
Total property and equipment, gross141,774 139,947 
Less accumulated depreciation(34,661)(31,550)
Total property and equipment, net$107,113 $108,397 

Depreciation expense for the three months ended March 31, 2026 and 2025, was $3.1 million and $2.5 million, respectively.

Intangible Assets

Intangible assets, net consisted of the following:

March 31, 2026December 31, 2025
(In thousands)Useful Life (in years)Amortization MethodCostAccumulated AmortizationNetCostAccumulated AmortizationNet
NexoBrid license12Straight-line$7,500 $(2,031)$5,469 $7,500 $(1,875)$5,625 

Amortization expense for each of the three months ended March 31, 2026 and 2025 was $0.2 million. The NexoBrid intangible asset is amortized to cost of product sales.

Future amortization expense of intangible assets as of March 31, 2026 is estimated to be as follows:

(In thousands)Amount
Remainder of 2026$469 
2027625 
2028625 
2029625 
2030625 
Thereafter2,500 
Total$5,469 

Accrued Expenses

Accrued Expenses consisted of the following:
(In thousands)March 31, 2026December 31, 2025
Bonus-related compensation$4,670 $11,253 
Employee-related accruals4,252 3,009 
Insurance reimbursement-related liabilities3,726 4,401 
Other accrued expenses1,319 573 
Total accrued expenses$13,967 $19,236