v3.26.3
Property and Equipment
9 Months Ended
Sep. 30, 2026
Property, Plant, and Equipment [Abstract]  
Property and Equipment Property and Equipment
The following table provides a summary of the major components of property and equipment as reflected on the unaudited condensed consolidated balance sheets (in thousands):
September 30, 2026December 31, 2025
Furniture and fixtures$455 $455 
Machinery and equipment3,531 3,361 
Leasehold improvements15,944 16,089 
Total property and equipment19,930 19,905 
Less: accumulated depreciation(7,219)(5,513)
Total property and equipment, net$12,711 $14,392 
Depreciation expense was $0.5 million and $0.6 million for the three months ended September 30, 2026 and September 30, 2025, respectively, and $1.7 million and $1.8 million for the nine months ended September 30, 2026 and 2025, respectively.