Property and Equipment

3 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

Property and equipment, net consisted of the following:

	March 31,		December 31,
	2024		2023
	(in thousands)
Machinery, equipment, and vehicles	$	56,194	$	44,169
Land	19,253		19,253
Buildings and leasehold improvements	86,044		66,754
Construction-in-progress	198,290		196,324
Less: Accumulated depreciation	(15,669)		(13,334)
Property and equipment, net	$	344,112	$	313,166

Depreciation expense related to property and equipment was $2.3 million and $1.8 million for the three months ended March 31, 2024 and 2023, respectively.