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


	As of December 31,
	2023			2022
Laboratory equipment	$	273		$	679
Software and computer equipment		349			383
Machinery and equipment		440			450
Furniture and fixtures		39			83
Vehicles		202			306
Leasehold improvements		1,590			1,590
Property and equipment, gross		2,893			3,491
Less accumulated depreciation and amortization		(2,509	)		(2,811	)
Property and equipment, net	$	384		$	680

Depreciation expense was $287,000 and $439,000 for the years ended December 31, 2023 and 2022, respectively.

As of December 31, 2022, there was $10,000 of construction in progress included in property and equipment that had not been placed into service and was not subject to depreciation. As of December 31, 2023, there was no construction in progress included in property and equipment.

Property and equipment are considered assets held for sale when management approves and commits to a plan to dispose of a property or group of properties. The property and equipment held for sale prior to the sale date is separately presented, within current assets, on the consolidated balance sheet as assets held for sale.

Property and equipment related to Archipelago, in the amount of $51,000 and $87,000 have been classified as assets held for sale, and are recorded at fair value as of December 31, 2023 and 2022, respectively. The fair value has been estimated using publicly available prices for some of the assets, and business partners' estimates for assets with prices not readily available, due to the relatively small size of the industry in which they can be used.

During the year ended December 31, 2023, the Company sold property and equipment and realized a gain on sale of $40,000 recorded on the consolidated statements of operations and comprehensive loss, with proceeds of $115,000. During the year ended December 31, 2022, management initiated the sale of property and equipment related to the Davis laboratory, Archipelago and Body Care. The Company completed the sale of such property and equipment with a net gain on sale of property and equipment in the amount of $314,000 recorded on the consolidated statements of operations and comprehensive loss during the year ended December 31, 2022. The proceeds related to the sale of property and equipment during the year ended December 31, 2022 were $920,000.

During the year ended December 31, 2022, the Company recorded write-downs of property and equipment of $530,000, of which $320,000 was related to the Radiance Beauty licensing agreement. There were no such write-downs of property and equipment during the year ended December 31, 2023.