v3.26.1
Property, Plant and Equipment, Net
 6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Property, Plant and Equipment, Net

Note 8. Property, Plant, and Equipment, Net

Property, plant, and equipment consisted of the following (in thousands):

 

 

 

As of
June 30, 2026

 

 

As of
December 31, 2025

 

Machinery and equipment

 

$

31,547

 

 

$

30,095

 

Office furniture and equipment

 

 

892

 

 

 

892

 

Vehicles

 

 

333

 

 

 

333

 

Leasehold improvements

 

 

24,922

 

 

 

24,868

 

 

 

57,694

 

 

 

56,188

 

Less—Accumulated depreciation

 

 

(19,936

)

 

 

(17,372

)

 

 

37,758

 

 

 

38,816

 

Construction in progress

 

 

1,553

 

 

 

2,917

 

Total property, plant, and equipment, net

 

$

39,311

 

 

$

41,733

 

For the three and six months ended June 30, 2026, depreciation expense was $1.3 million and $2.6 million, respectively, and for the three and six months ended June 30, 2025, depreciation expense was $1.3 million and $2.6 million, respectively.