Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, Net

v3.24.3
Property and Equipment, Net
 9 Months Ended
Sep. 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   September 30,     December 31,  
    (Years)   2024     2023  
Machinery and equipment   3 - 10   $ 1,468     $ 1,280  
Office furniture and equipment   3 - 10     184       139  
Leasehold improvements   6     459       419  
Construction in progress   N/A     951       387  
Property and equipment, gross          3,062       2,225  
Less: accumulated depreciation and amortization         (843 )     (726 )
Property and equipment, net       $ 2,219     $ 1,499  

 

 

Depreciation expense for the nine months ended September 30, 2024 and 2023 was $240 and $95, respectively.