Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

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PROPERTY AND EQUIPMENT
3 Months Ended
Mar. 31, 2024
PROPERTY AND EQUIPMENT  
PROPERTY AND EQUIPMENT

10. PROPERTY AND EQUIPMENT

Property and equipment, net consists of the following (in thousands):

    

March 31, 

December 31, 

    

2024

2023

Equipment

$

47,419

$

46,351

Leasehold improvements

 

22,780

 

20,303

Land and buildings

3,604

7,840

Construction in process

 

3,530

 

3,374

Furniture and fixtures

 

2,054

 

1,950

Software

 

2,103

 

1,899

Tooling

 

2,286

 

2,287

Computer equipment

 

2,344

 

2,166

Automobiles

946

1,032

Property and equipment, gross

 

87,066

 

87,202

Less: accumulated depreciation

 

(55,415)

 

(51,362)

Total property and equipment, net

$

31,651

$

35,840

Depreciation expense was $3.1 million and $3.0 million for the three months ended March 31, 2024 and 2023.