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Property, Plant and Equipment, Net
 9 Months Ended
Sep. 30, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment, Net

4. Property, Plant and Equipment, Net

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

 

 

September 30,

 

 

December 31,

 

 

 

2025

 

 

2024

 

Transplant aircraft

 

$

281,018

 

 

$

252,090

 

Transplant aircraft equipment

 

 

3,100

 

 

 

—

 

Flight school aircraft

 

 

3,717

 

 

 

3,717

 

OCS Consoles

 

 

22,866

 

 

 

19,193

 

Manufacturing equipment

 

 

11,218

 

 

 

10,496

 

Computer equipment and software

 

 

4,144

 

 

 

3,979

 

Internal-use software

 

 

9,049

 

 

 

—

 

Laboratory equipment

 

 

3,317

 

 

 

2,904

 

Office, trade show and training equipment

 

 

5,292

 

 

 

4,698

 

Leasehold improvements

 

 

23,531

 

 

 

22,949

 

Construction-in-progress

 

 

3,755

 

 

 

6,658

 

Land

 

 

2,593

 

 

 

—

 

 

 

373,600

 

 

 

326,684

 

Less: Accumulated depreciation and amortization

 

 

(60,578

)

 

 

(40,714

)

 

$

313,022

 

 

$

285,970

 

The expected useful life of transplant aircraft equipment is 10 years and the expected useful life of internal-use software is five years. In July 2025, the Company purchased two parcels of land in Mirandola, Italy for a total purchase price of $2.6 million. Substantially all of the Company's other tangible property, plant and equipment are held in the United States.

During the three and nine months ended September 30, 2025, total depreciation and amortization expense was $6.8 million and $19.6 million, respectively. During the three and nine months ended September 30, 2024, total depreciation and amortization expense was $5.1 million and $13.9 million, respectively.

The Company capitalized costs associated with the development of internal-use software of $2.2 million and $6.2 million in the three and nine months ended September 30, 2025, respectively, and $1.1 million and $1.6 million in the three and nine months ended September 30, 2024, respectively. The Company recorded amortization expense of $0.4 million and $0.8 million during the three and nine months ended September 30, 2025, respectively, related to internal-use software placed into service in 2025. The net book value of internal-use software was $9.8 million and $4.4 million as of September 30, 2025 and December 31, 2024, respectively, of which $1.6 million and $4.4 million was included in construction-in-progress as of those respective dates.