Quarterly report [Sections 13 or 15(d)]

PROPERTY, PLANT AND EQUIPMENT

v3.25.1
PROPERTY, PLANT AND EQUIPMENT
 3 Months Ended
Mar. 31, 2025
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT
 5. PROPERTY, PLANT AND EQUIPMENT
The components of property, plant and equipment (“PPE”) are as follows:
March 31, 2025 (unaudited) December 31, 2024
Buildings and building components $ 89,158  $ 89,124 
Land 12,956  12,956 
Leasehold improvements 49,117  47,514 
Machinery and equipment 23,968  23,959 
Furniture, fixtures and office equipment (including computer) 23,434  22,597 
Construction-in-process 3,465  2,533 
Total property, plant and equipment - gross
 202,098  198,683 
Less: Accumulated depreciation (58,707) (54,620)
Total property, plant and equipment - net
 $ 143,391  $ 144,063 
Construction-in-process represents assets under construction for manufacturing and retail build-outs not yet ready for use.
Depreciation was $4,502 and $4,909 for the three months ended March 31, 2025 and 2024, respectively. Interest expense capitalized to PPE totaled $62 and $0 for the three months ended March 31, 2025 and 2024, respectively.