Property and Equipment

12 Months Ended

Dec. 31, 2023

Property and Equipment

Property and Equipment

Note 6 - Property and Equipment

Property and equipment consisted of the following at December 31, 2023 and December 31, 2022 (in thousands):

	Estimated
	Useful Life	December 31, 2023		December 31, 2022
Land	N/A	$	51,612	$	51,612
Building and leasehold improvements	3-39 years		32,092		25,874
Production equipment	3-5 years		105,245		57,170
Computers, equipment and software	3-5 years		30,778		25,154
Furniture and office equipment	3-5 years		8,383		7,420
Vehicles	5 years		7,451		4,027
Capitalized internal software development costs	3-5 years		14,799		14,198
Construction-in-process	N/A		55,397		62,283
Total cost			305,757		247,738
Less: Accumulated depreciation			(105,224)		(77,895)
Property and equipment, net		$	200,533	$	169,843

Construction-in-process included $31.0 million and $28.3 million related to the development of our new campus at December 31, 2023 and December 31, 2022, respectively.

Depreciation and amortization expense related to property and equipment was $28.1 million, $20.4 million and $15.8 million for the years ended December 31, 2023, 2022 and 2021, respectively, of which $13.6 million, $8.5 million and $6.3 million was included in cost of sales for the respective years.