Quarterly report [Sections 13 or 15(d)]

Property and Equipment

v3.25.1
Property and Equipment
3 Months Ended
Mar. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment, net consisted of the following:
March 31, December 31,
2025 2024
(in thousands)
Machinery, equipment, and vehicles $ 116,846 $ 115,373
Land 19,253 19,253
Buildings and leasehold improvements 259,968 258,864
Construction-in-progress 6,566 6,039
Less: Accumulated depreciation (33,425) (28,551)
Property and equipment, net $ 369,208 $ 370,978

Depreciation expense related to property and equipment was $5.0 million and $2.3 million for the three months ended March 31, 2025 and 2024, respectively.