Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, Net

v3.24.2.u1
Property and Equipment, Net
 6 Months Ended
Jun. 30, 2024
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     June 30,     December 31,  
    (Years)     2024     2023  
Machinery and equipment     3 - 10     $ 1,378     $ 1,280  
Office furniture and equipment     3 - 10       184       139  
Leasehold improvements     6       664       419  
Construction in progress     N/A       944       387  
Property and equipment, gross             3,170       2,225  
Less: accumulated depreciation and amortization             (802 )     (726 )
Property and equipment, net           $ 2,368     $ 1,499  

 

 

Depreciation expense for the six months ended June 30, 2024 and 2023 was $76 and $61, respectively.