Property, Plant and Equipment, net

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment, net.

Property, Plant and Equipment, net

Note 7. Property, Plant and Equipment, net

The components of property, plant and equipment are as follows:

	December 31,
	2024		2023
	(in thousands)
Land and buildings	$	25,813	$	21,802
Machinery and equipment		45,482		41,547
Construction in process		13,598		17,055
Total cost		84,893		80,404
Accumulated depreciation		(31,109)		(26,433)
Property, plant and equipment, net	$	53,784	$	53,971

Depreciation expense was $7.7 million, $6.2 million and $5.1 million for the years ended December 31, 2024, 2023 and 2022, respectively.