v3.26.1
Property and Equipment, Net
 6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Property and Equipment, Net Property and Equipment, Net
Property and equipment, net consisted of the following (in thousands):
 June 30, 2026December 31, 2025
Land$7,245 $7,245 
Building
44,454 — 
Lab equipment35,964 33,034 
Leasehold improvements14,915 14,834 
Computer equipment6,783 5,920 
Furniture and fixtures4,385 3,648 
Construction-in-progress12,580 51,059 
Total126,326 115,740 
Less: Accumulated depreciation(21,644)(18,297)
Property and equipment, net$104,682 $97,443 
In 2025, construction-in-progress related primarily to construction of our new headquarters in Friendswood, Texas, which was substantially completed in February 2026. Upon completion, we commenced depreciation of the capitalized construction costs of the building over an estimated useful life of 39 years. As of June 30, 2026, construction-in-progress related primarily to leasehold improvements for our office and laboratory facilities in Scottsdale, Arizona.
Depreciation expense was recorded in the condensed consolidated statements of operations as follows (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
 2026202520262025
Cost of sales (exclusive of amortization of acquired intangible assets)$1,151 $909 $2,309 $1,812 
Research and development156 95 285 189 
Selling, general and administrative512 449 928 891 
Total$1,819 $1,453 $3,522 $2,892