| Property and Equipment, Net |
Property and Equipment, Net Property and equipment, net consists of the following as of the periods presented: | | | | | | | | | | | | | (in thousands) | June 30, 2026 | | December 31, 2025 | | Land | $ | 1,090 | | | $ | 731 | | | Building | 62,085 | | | 60,679 | | | Leasehold improvements | 18,154 | | | 18,060 | | | Processing equipment | 17,189 | | | 16,572 | | | Furniture and equipment | 10,189 | | | 10,850 | | | Projects in process | 1,551 | | | 1,241 | | | Finance lease right-of-use assets | 80 | | | 80 | | | Property and equipment, at cost | 110,338 | | | 108,213 | | Less: accumulated depreciation | (27,996) | | | (26,430) | | | Property and equipment, net | $ | 82,342 | | | $ | 81,783 | |
Depreciation expense is as follows for the periods presented:
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | (in thousands) | June 30, 2026 | | June 30, 2025 | | June 30, 2026 | | June 30, 2025 | | Depreciation expense | $ | 1,607 | | | $ | 1,657 | | | $ | 3,211 | | | $ | 3,385 | |
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