v3.26.1
Property and Equipment
 6 Months Ended
Jun. 30, 2026
Property and Equipment  
Property and Equipment

10. Property and Equipment

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June 30, 

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December 31, 

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2026

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2025

Machinery and equipment

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$

16,115

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$

15,556

Furniture and fixtures

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169

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169

Laboratory equipment

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842

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842

Leasehold improvements

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2,847

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2,847

Construction in progress

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5,989

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6,415

Total property and equipment

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25,962

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25,829

Less: accumulated depreciation

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(5,923)

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(4,917)

Property and equipment, net

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$

20,039

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$

20,912

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Depreciation expense related to property and equipment is as follows:

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Three Months Ended June 30, 

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Six Months Ended June 30, 

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2026

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2025

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2026

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2025

Depreciation expense

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$

526

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$

509

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$

1,045

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$

1,030

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During the first quarter of 2025, a significant decline in the Company’s market-capitalized value following the delisting of its common shares from NYSE American constituted a triggering event requiring interim impairment testing of goodwill. In connection with this assessment, the Company reviewed its property and equipment for recoverability under ASC 360, Property, Plant, and Equipment (“ASC 360”). That review determined that certain assets within the Diagnostics segment were not fully recoverable. As a result, the Company recognized a $1,981 impairment charge, of which $897 related to machinery and equipment and $1,084 related to construction in progress, and recorded this charge in the consolidated statements of operations and comprehensive loss for the three months ended March 31, 2025. There were no interim triggering events identified during the six months ended June 30, 2026.