Quarterly report [Sections 13 or 15(d)]

PROPERTY, PLANT AND EQUIPMENT

v3.25.3
PROPERTY, PLANT AND EQUIPMENT
 9 Months Ended
Sep. 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:
September 30, 2025 (unaudited) December 31, 2024
Buildings and building components $ 90,932  $ 89,124 
Land 12,956  12,956 
Leasehold improvements 51,710  47,514 
Machinery and equipment 24,392  23,959 
Furniture, fixtures and office equipment (including computer) 23,711  22,597 
Construction-in-process 7,451  2,533 
Total property, plant and equipment - gross
 211,152  198,683 
Less: Accumulated depreciation (66,690) (54,620)
Total property, plant and equipment - net
 $ 144,462  $ 144,063 
Construction-in-process represents assets under construction for manufacturing and retail build-outs not yet ready for use.
Depreciation was $4,214 and $4,520 for the three months ended September 30, 2025 and 2024, respectively, and $13,151 and $14,403 for the nine months ended September 30, 2025 and 2024, respectively. Interest expense capitalized to PPE totaled $149 and $0 for the three months ended September 30, 2025 and 2024, respectively, and $254 and $0 for the nine months ended September 30, 2025 and 2024, respectively.