v3.25.4
Property and Equipment, Net
12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net Property and Equipment, Net
The following table presents the components of the Company’s property and equipment, net ($ in thousands):
December 31,
20252024
Office equipment1,201 1,230 
Electronic equipment10,964 9,211 
Vehicle200 196 
Laboratory equipment20,040 20,516 
Manufacturing equipment17,948 17,493 
Leasehold improvements14,049 11,306 
Building24,596 — 
Construction in progress554 25,129 
 89,552 85,081 
Less: accumulated depreciation(42,163)(37,120)
Property and equipment, net47,389 47,961 
Depreciation expense was $9.1 million, $8.6 million, and $8.4 million for 2025, 2024, and 2023, respectively.