Quarterly report [Sections 13 or 15(d)]

Property, Plant and Equipment, Net

v3.25.1
Property, Plant and Equipment, Net
 3 Months Ended
Mar. 31, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment, Net Property, Plant and Equipment, Net
Property, plant and equipment, net consists of the following (dollars in thousands):

March 31, December 31,
2025 2024
(unaudited) (audited)
Building and leasehold improvements $ 27,476  $ 27,429 
Machinery and equipment 20,041  19,946 
Computer equipment and software 19,024  17,814 
Furniture and fixtures 2,949  2,949 
Land 1,547  1,547 
Vehicles 762  762 
Construction in progress 9,544  10,925 
Property, plant, and equipment, gross 81,343  81,372 
Less: accumulated depreciation and amortization (24,698) (22,168)
Total property, plant and equipment, net $ 56,645  $ 59,204 

The total depreciation expense for internal use software was $1,334 and $989 for the three months ended March 31, 2025 and 2024, respectively.

All long-lived assets are located in the United States.