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Property and Equipment
12 Months Ended
Dec. 31, 2020
Property, Plant and Equipment [Abstract]  
Property and Equipment

6. Property and Equipment

 

Property and equipment consisted of the following:

 

   As of December 31, 
(in thousands)  2020   2019 
Equipment  $30,508   $20,423 
Equipment in progress   18,648    5,278 
Leasehold improvements   15,758    7,040 
Furniture and fixtures   5,160    4,252 
Office equipment   3,185    1,523 
Total property and equipment   73,259    38,516 
Accumulated depreciation   (11,773)   (6,537)
Property and equipment, net  $61,486   $31,979 

 

Equipment in progress reflects equipment, primarily related to mattress manufacturing, which is being constructed and was not in service at December 31, 2020 or December 31, 2019. Depreciation expense was $5.5 million and $3.6 million for the years ended December 31, 2020 and 2019, respectively.