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Property and Equipment, Net
 12 Months Ended
Dec. 31, 2023
Property and Equipment, Net [Abstract]  
PROPERTY AND EQUIPMENT, NET

4. PROPERTY AND EQUIPMENT, NET

 

Property and equipment, net consist of the following:

  

      December 31,   December 31, 
   Estimated Useful Lives  2023   2022 
Machinery and equipment  3 to 5 years  $3,162   $1,906 
Furniture and fixtures  3 to 7 years   1,173    1,059 
Computer hardware and software  3 years   1,328    1,155 
Leasehold improvements  Lesser of lease term or asset life   4,288    4,161 
Total property and equipment      9,951    8,281 
Less accumulated depreciation      (3,549)   (1,695)
Property and equipment, net     $6,402   $6,586 

 

In connection with the Waltham lease, the Company received $1,200 in August 2022 related to leasehold improvements funded by its landlord. These leasehold improvements are being depreciated over the shorter of the lease term or each asset’s life. The $1,200 was included in leasehold improvements.

 

In connection with the Waltham lease, the Company received $840 in May 2021 related to leasehold improvements funded by its landlord. These leasehold improvements are being depreciated over the shorter of the lease term or each asset’s life. The $840 paid to vendors by the landlord was included in leasehold improvements.

 

Depreciation expense for the years ended December 31, 2023 and 2022 was $1,854 and $1,111, respectively.