Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.23.1
Property and Equipment
 3 Months Ended
Mar. 31, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment

5. PROPERTY AND EQUIPMENT

Property and equipment consist of the following:

 

 

 

March 31,

 

 

December 31,

 

 

 

2023

 

 

2022

 

 

 

(in thousands)

 

Leasehold improvements

 

$

6,414

 

 

$

6,402

 

Machinery and equipment

 

 

898

 

 

 

898

 

Furniture and fixtures

 

 

983

 

 

 

983

 

Research and development equipment

 

 

7,157

 

 

 

6,126

 

Computer hardware and software

 

 

1,983

 

 

 

1,983

 

Construction in progress

 

 

3

 

 

 

1,157

 

Subtotal

 

 

17,438

 

 

 

17,549

 

Less: Accumulated depreciation

 

 

7,553

 

 

 

6,739

 

Property and equipment, net

 

$

9,885

 

 

$

10,810

 

 

Depreciation expense for the three months ended March 31, 2023 and 2022, was approximately $1.1 million and $0.8 million, respectively.