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PROPERTY AND EQUIPMENT
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT
NOTE 6 - PROPERTY AND EQUIPMENT

Property and equipment at December 31, 2025 and 2024 are summarized as follows:

(in thousands)20252024
Machinery and equipment$129,493 $134,111 
Capitalized software25,811 25,888 
Office furniture and equipment5,238 5,454 
Leasehold improvements40,765 37,794 
Construction in progress9,652 4,831 
Total property and equipment a
210,959 208,078 
Less: Accumulated depreciation and amortization a
(161,710)(157,034)
Total property and equipment, net$49,249 $51,044 
a. The impairment charges subsequently discussed resulted in the establishment of a new cost basis for certain assets reflected in the table. Gross asset carrying values and accumulated depreciation and amortization have been adjusted to reflect the new cost basis of assets for which the carrying value was reduced due to impairment.

We include all depreciation related to assets attributable to the generation of revenue in cost of sales on the consolidated statements of operations. Depreciation related to assets that are not attributable to the generation of revenue is included in Research and development and Selling, general and administrative expenses on the consolidated statements of operations. Depreciation expense on property and equipment for the years ended December 31, 2025, 2024 and 2023 was $17.4 million, $19.0 million and $21.3 million, respectively.
In 2024, the Company concluded that there were indicators that the primary asset group underlying the Company's core operations should be tested for recoverability based upon the reporting of losses and negative cash flows as well as the significant decline in the Company's stock price. As a result of this assessment, the Company recognized a $5.9 million impairment charge related to property and equipment, net within Asset impairment charges on our consolidated statement of operations for the year ended December 31, 2024. For the year ended December 31, 2023, we recognized impairment charges of $1.4 million related to property and equipment, net in Selling, general and administrative expense on the consolidated statement of operations.