Quarterly report [Sections 13 or 15(d)]

PROPERTY, PLANT AND EQUIPMENT

v3.25.2
PROPERTY, PLANT AND EQUIPMENT
 6 Months Ended
Jun. 30, 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:
June 30, 2025 (unaudited) December 31, 2024
Buildings and building components $ 91,273  $ 89,124 
Land 12,956  12,956 
Leasehold improvements 50,958  47,514 
Machinery and equipment 24,054  23,959 
Furniture, fixtures and office equipment (including computer) 23,819  22,597 
Construction-in-process 4,796  2,533 
Total property, plant and equipment - gross
 207,856  198,683 
Less: Accumulated depreciation (63,126) (54,620)
Total property, plant and equipment - net
 $ 144,730  $ 144,063 
Construction-in-process represents assets under construction for manufacturing and retail build-outs not yet ready for use.
Depreciation was $4,435 and $4,974 for the three months ended June 30, 2025 and 2024, respectively, and $8,937 and $9,883 for the six months ended June 30, 2025 and 2024, respectively. Interest expense capitalized to PPE totaled $43 and $0 for the three months ended June 30, 2025 and 2024, respectively, and $105 and $0 for the six months ended June 30, 2025 and 2024, respectively.