Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.24.1
Property and Equipment
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment, net consisted of the following:

December 31,
2023 2022
(in thousands)
Machinery, equipment, and vehicles $ 44,169 $ 32,774
Land 19,253 19,296
Buildings and leasehold improvements 66,754 55,392
Construction-in-progress 196,324 56,753
Less: Accumulated depreciation (13,334) (6,371)
Property and equipment, net $ 313,166 $ 157,844
Depreciation expense related to property and equipment was $7.2 million and $5.4 million for the years ended December 31, 2023 and 2022, respectively.