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

5. Property and Equipment, Net

Property and equipment, net consisted of the following:

 

 

 

June 30,

 

 

December 31,

 

(in thousands)

 

2026

 

 

2025

 

Furniture, fixtures and other

 

 

 

738

 

 

 

558

 

Total

 

 

 

738

 

 

 

558

 

Less: Accumulated depreciation

 

 

 

(90

)

 

 

(25

)

Property and equipment, net

 

$

 

648

 

 

$

533

 

An immaterial amount of depreciation was recognized during the three and six months ended June 30, 2026. Depreciation expense for the three and six months ended June 30, 2025 was $2.1 and $2.9 million, respectively.