v3.26.1
Property and Equipment, Net
3 Months Ended
Mar. 31, 2026
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net

5. Property and Equipment, Net

Property and equipment, net consisted of the following:

 

 

 

March 31,

 

 

December 31,

 

(in thousands)

 

2026

 

 

2025

 

Furniture, fixtures and other

 

 

 

618

 

 

 

558

 

Total

 

 

 

618

 

 

 

558

 

Less: Accumulated depreciation

 

 

 

(53

)

 

 

(25

)

Property and equipment, net

 

$

 

565

 

 

$

533

 

An immaterial amount of depreciation was recognized during the three months ended March 31, 2026. Depreciation expense for the three months ended March 31, 2025 was $0.8 million.