Quarterly report [Sections 13 or 15(d)]

Property and Equipment, Net

v3.26.1
Property and Equipment, Net
 3 Months Ended
Mar. 31, 2026
Property, Plant, and Equipment [Abstract]  
Property and Equipment, Net

9. Property and Equipment, Net

 

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

    

    Useful Life     March 31,     December 31,  
    (Years)     2026     2025  
Machinery and equipment   3 - 10     $ 2,178     $ 2,161  
Office furniture and equipment   3 - 10       194       197  
Leasehold improvements   6       419       419  
Construction in progress   N/A       541       547  
Property and equipment, gross            3,332       3,324  
Less: accumulated depreciation and amortization           (1,441 )     (1,369 )
Property and equipment, net         $ 1,891     $ 1,955  

 

Depreciation expense for the three months ended March 31, 2026 and 2025 was $73 thousand and $82 thousand, respectively.