Quarterly report [Sections 13 or 15(d)]

Property and Equipment, Net

v3.25.3
Property and Equipment, Net
9 Months Ended
Sep. 30, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net

10. Property and Equipment, Net

 

Property and equipment consist of the following ($ in thousands):

 

    Useful Life     September 30,     December 31,  
    (Years)     2025     2024  
Machinery and equipment   3 - 10     $ 2,126     $ 2,118  
Office furniture and equipment   3 - 10       192       187  
Leasehold improvements   6       419       419  
Construction in progress   N/A       547       532  
Property and equipment, gross           3,284       3,256  
Less: accumulated depreciation and amortization           (1,288 )     (1,045 )
Property and equipment, net         $ 1,996     $ 2,211  

 

Depreciation expense for the nine months ended September 30, 2025 and 2024 was $242 thousand and $240 thousand, respectively.