XML 20 R13.htm IDEA: XBRL DOCUMENT v3.25.3
Property and Equipment, Net
 9 Months Ended
Sep. 30, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net

5. Property and Equipment, Net

Property and equipment, net consisted of the following:

 

September 30,

 

 

December 31,

 

(in thousands)

 

2025

 

 

2024

 

Furniture, fixtures and equipment

 

$

9,574

 

 

$

21,513

 

Leasehold improvements

 

 

23,228

 

 

 

23,228

 

Subtotal

 

 

32,802

 

 

 

44,741

 

Less: accumulated depreciation

 

 

(32,336

)

 

 

(37,026

)

Total property and equipment, net

 

$

466

 

 

$

7,715

 

Depreciation expense was $0.8 million and $2.8 million for the three and nine months ended September 30, 2025, respectively, and $0.9 million and $2.6 million for the three and nine months ended September 30, 2024, respectively.