Quarterly report [Sections 13 or 15(d)]

Property and Equipment

v3.25.2
Property and Equipment
 6 Months Ended
Jun. 30, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment

Note 6 – Property and Equipment

Property and equipment consisted of the following:

 

 

 

June 30,

 

 

December 31,

 

 

 

2025

 

 

2024

 

Furniture and equipment

 

$

4,046

 

 

$

4,046

 

Computers and software

 

 

18,368

 

 

 

19,679

 

Vehicles

 

 

285

 

 

 

285

 

Leasehold improvements

 

 

7,386

 

 

 

7,344

 

Construction in progress

 

 

4,114

 

 

 

2,318

 

Less: accumulated depreciation

 

 

(20,291

)

 

 

(19,021

)

Total property and equipment

 

$

13,908

 

 

$

14,651

 

 

Depreciation expense for the three and six months ended June 30, 2025 was $997 and $1,983, respectively, and $1,590 and $3,078 for the three and six months ended June 30, 2024, respectively.

During the three and six months ended June 30, 2025, the Company recorded an impairment of $1,470, primarily related to software assets for which the Company no longer had established cash flows to support continued recognition of such assets. No impairment of property and equipment was recorded for the six months ended June 30, 2024. Property and equipment impairment expenses are included within impairment of goodwill and other noncurrent assets in the Company's condensed consolidated statements of operations.