Property and Equipment

12 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment

PROPERTY AND EQUIPMENT

The following table summarizes the Company’s major classes of property and equipment:

	September 30,
	2023		2022
	(in thousands)
Computers, software, office equipment and furniture	$	2,240	$	2,182
Land	2,996		2,996
Research equipment	56,509		38,283
Leasehold improvements	103,813		42,017
Construction in progress	166,655		56,373
	332,213		141,851
Less: Accumulated depreciation and amortization	(41,951)		(31,554)
Property and equipment, net	$	290,262	$	110,297

Depreciation and amortization expense for property and equipment for the years ended September 30, 2023, 2022, and 2021 was $10.7 million, $8.7 million and $6.6 million respectively.

The increase in the construction in progress during 2023 was mainly due to the continuing developments of manufacturing, laboratory and office facilities in Verona, Wisconsin. In May 2023, the Company completed the development of the San Diego facility, which resulted in the reclassification of related construction in progress to leasehold improvements as of September 30, 2023.