Quarterly report [Sections 13 or 15(d)]

Property and Equipment

v3.25.3
Property and Equipment
9 Months Ended
Sep. 30, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment, net consisted of the following:
September 30, December 31,
2025 2024
(in thousands)
Machinery, equipment, and vehicles $ 119,364 $ 115,373
Land 19,253 19,253
Buildings and leasehold improvements 261,610 258,864
Construction-in-progress 4,743 6,039
Less: Accumulated depreciation (43,163) (28,551)
Property and equipment, net $ 361,807 $ 370,978
Depreciation expense related to property and equipment was approximately $5.0 million and $5.0 million for the three months ended September 30, 2025 and 2024, respectively, and approximately $14.9 million and $10.3 million for the nine months ended September 30, 2025 and 2024, respectively.