Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.22.2.2
Property and Equipment
 9 Months Ended
Sep. 30, 2022
Property, Plant and Equipment [Abstract]  
Property and Equipment

5. PROPERTY AND EQUIPMENT

Property and equipment consist of the following:

 

 

 

September 30,

 

 

December 31,

 

 

 

2022

 

 

2021

 

 

 

(in thousands)

 

Leasehold improvements

 

$

6,666

 

 

$

6,512

 

Machinery and equipment

 

 

898

 

 

 

922

 

Furniture and fixtures

 

 

967

 

 

 

983

 

Research and development equipment

 

 

6,639

 

 

 

4,712

 

Computer hardware and software

 

 

1,928

 

 

 

1,708

 

Construction in progress

 

 

56

 

 

 

382

 

Subtotal

 

 

17,154

 

 

 

15,219

 

Less: Accumulated depreciation

 

 

6,667

 

 

 

4,345

 

Property and equipment, net

 

$

10,487

 

 

$

10,874

 

 

Depreciation expense for the three and nine months ended September 30, 2022, was approximately $0.9 million and $2.5 million, respectively. Depreciation expense for the three and nine months ended September 30, 2021, was approximately $0.8 million and $2.0 million, respectively.