Annual report [Section 13 and 15(d), not S-K Item 405]

Property and Equipment, Net

v3.25.1
Property and Equipment, Net
 12 Months Ended
Dec. 31, 2024
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   December 31,     December 31,  
    (Years)   2024     2023  
Machinery and equipment   3 - 10   $ 2,118     $ 1,280  
Office furniture and equipment   3 - 10     187       139  
Leasehold improvements   6     419       419  
Construction in progress   N/A     532       387  
Property and equipment, gross          3,256       2,225  
Less: accumulated depreciation and amortization         (1,045 )     (726 )
Property and equipment, net       $ 2,211     $ 1,499  

 

Depreciation expense for the year ended December 31, 2024 and 2023 was $319 thousand and $132 thousand, respectively.