Quarterly report [Sections 13 or 15(d)]

Property and Equipment

v3.26.1
Property and Equipment
3 Months Ended
Mar. 31, 2026
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment, net consisted of the following:
March 31,
December 31,
2026
2025
(in thousands)
Machinery, equipment, and vehicles
$
120,654
$
119,440
Land
19,253
19,253
Buildings and leasehold improvements
262,199
262,058
Construction in progress
4,260
4,660
Less: Accumulated depreciation
(52,930)
(47,984)
Property and equipment, net
$
353,436
$
357,427
Depreciation expense related to property and equipment was approximately $5.0 million and $5.0 million for the three months ended March 31, 2026 and 2025, respectively.