Annual report [Section 13 and 15(d), not S-K Item 405]

Property and Equipment

v3.26.1
Property and Equipment
12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment, net consisted of the following:

December 31,
2025
2024
(in thousands)
Machinery, equipment, and vehicles
$
119,440
$
115,373
Land
19,253
19,253
Buildings and leasehold improvements
262,058
258,864
Construction in progress
4,660
6,039
Less: Accumulated depreciation
(47,984)
(28,551)
Property and equipment, net
$
357,427
$
370,978
Depreciation expense related to property and equipment was $19.9 million and $15.3 million for the years ended December 31, 2025 and 2024, respectively.