v3.25.4
Property, Plant, and Equipment
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant, and Equipment
NOTE 6 — Property, Plant, and Equipment
The following table summarizes the key classifications of property, plant, and equipment included in the consolidated balance sheets:
December 31,December 31,
$ in thousands20252024
La Porte Demonstration Facility$13,484 $122,845 
Furniture and equipment132 1,069 
Assets acquired under finance lease45 349 
Construction-in-progress20,062 48,438 
Total property, plant, and equipment, gross33,723 172,701 
Accumulated depreciation and amortization (1)
(965)(21,231)
Total property, plant, and equipment, net$32,758 $151,470 
___________
(1) As of December 31, 2025 and December 31, 2024, $3 thousand and $18 thousand, respectively, of accumulated depreciation and amortization is related to amortization of the finance lease right-of-use assets.
During the first quarter of 2025, as a result of the management’s assessment of the probability of the construction of SN1 due to the factors discussed above, $56.1 million of costs previously included in Construction-in-progress were expensed. This amount is included in impairment and other charges in the consolidated statements of operations and comprehensive loss.
Refer to Note 5 — Goodwill and Intangible Assets for discussion of impairments of the Developed Technology Asset Group recognized during the year ended December 31, 2025.
The following table presents the Company’s depreciation and amortization expense for the following periods:
Year Ended December 31,
$ in thousands20252024
Depreciation and amortization expense
$13,468 $14,085 
The Company regularly evaluates whether events or changes in circumstances warrant a revision to the remaining estimated useful lives of its long-lived assets.