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

9. Property and Equipment, Net

 

Property and equipment, net consists of the following:

 

(in thousands)  June 30,
2026		   December 31,
2025		 
Manufacturing equipment  $2,166   $2,126 
Machinery & equipment   126    116 
Computer equipment   54    102 
Furniture & fixtures   58    81 
Leasehold Improvements   7    - 
Property and equipment, gross   2,411    2,425 
Less: Accumulated depreciation   (272)   (267)
Property and equipment, net  $2,139   $2,158 

 

Depreciation expense was not material to the condensed consolidated statements of operations for the three and six months ended June 30, 2026 and 2025 and was recorded in the condensed consolidated statements of operations within cost of revenues or selling, general and administrative expense, depending on the nature and use of the underlying asset. As of June 30, 2026 and December 31, 2025, $1.8 million of manufacturing equipment acquired in connection with the Strategic Transaction had not yet been placed in service and is therefore not being depreciated. The Company will commence depreciation of these assets over their estimated useful lives upon being placed in service.