Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment

v3.21.2
Property, Plant and Equipment
 6 Months Ended
Jun. 30, 2021
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment

Note 4 – Property, Plant and Equipment

 

The components of property and equipment are as follows (in thousands):

   

June 30, 2021

     December 31, 2020     Estimated Useful Life
Land   $ 352     $ 352      
Building improvements     1,859       1,729     10-39 years
Machinery     4,669       4,441     3-7 years
Lab equipment     4,316       1,002     3-7 years
Computer equipment     1,182       881     3-5 years
Furniture and fixtures     457       194     5 years
      12,835       8,599      
Less: accumulated depreciation     (5,921 )     (5,021 )    
Total property, plant and equipment, net   $ 6,914     $ 3,578      

 

Depreciation expense incurred for the six months ended June, 2021 and 2020 was $900,000 and $167,000, respectively. Depreciation expense for the three months ended June 30, 2021 and 2020 was $474,000 and $900,000, respectively.