PROPERTY AND EQUIPMENT

9 Months Ended

Sep. 30, 2024

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

(5)   PROPERTY AND EQUIPMENT

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

	September 30, 2024		December 31, 2023
Property and equipment
Office furniture and equipment	$	3,006	$	2,768
Assembly equipment		357		178
Vehicles		75		75
Leasehold improvements		1,845		1,174
Leased devices		1,328		796
Capital projects		155		869
		6,766		5,860
Less accumulated depreciation		(3,597)		(2,746)
	$	3,169	$	3,114

Total depreciation expense related to property and equipment was $0.3 million and $0.2 million for the three months ended September 30, 2024 and 2023, respectively. Depreciation expense for the nine months ended September 30, 2024 and 2023, was $0.7 million and $0.6 million, respectively.

Total depreciation expense related to devices out on lease was $0.4 million and $0.5 million for the three months ended September 30, 2024 and 2023, respectively. Depreciation expense related to devices out on lease was $1.3 million and $1.4 million for the nine months ended September 30, 2024 and 2023, respectively. Depreciation on leased units is reflected on the income statement as cost of revenue.