Property, Plant and Equipment, Net

3 Months Ended

Mar. 31, 2025

Property, Plant and Equipment [Abstract]

4. Property, Plant and Equipment, Net

Property, plant and equipment, net consisted of the following (in thousands):


	March 31,			December 31,
	2025			2024
Transplant aircraft	$	280,768		$	252,090
Flight school aircraft		3,717			3,717
OCS Consoles		20,478			19,193
Manufacturing equipment		11,076			10,496
Computer equipment and software		3,987			3,979
Laboratory equipment		2,975			2,904
Office, trade show and training equipment		4,750			4,698
Leasehold improvements		22,946			22,949
Construction-in-progress		7,438			6,658
		358,135			326,684
Less: Accumulated depreciation and amortization		(46,891	)		(40,714	)
	$	311,244		$	285,970

During the three months ended March 31, 2025 and 2024, total depreciation and amortization expense was $6.1 million and $4.3 million, respectively. The Company capitalized costs associated with the development of internal use software of $1.8 million in the three months ended March 31, 2025, included in construction-in-progress. The Company has not yet placed the assets in service, therefore gross and net book value of capitalized internal use software is $6.2 million and $4.4 million as of March 31, 2025 and December 31, 2024, respectively. The Company did not have capitalized costs associated with the development of internal use software in the three months ended March 31, 2024.

Substantially all of the Company's tangible property, plant and equipment are held in the United States.