Quarterly report [Sections 13 or 15(d)]

Property and Equipment

v3.26.1
Property and Equipment
 3 Months Ended
Mar. 31, 2026
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment consisted of the following (in thousands):
  March 31, 2026 December 31, 2025
  Gross Assets
Accumulated
Depreciation
 Total Gross Assets
Accumulated Depreciation
 Total
Furniture, fixtures, and equipment $ 6,440 $ (5,131) $ 1,309 $ 6,358 $ (5,032) $ 1,326
Automobiles 66 (66) — 66 (66) —
Leasehold improvements 5,129 (3,221) 1,908 5,099 (3,066) 2,033
 
Total $ 11,635 $ (8,418) $ 3,217 $ 11,523 $ (8,164) $ 3,359
Depreciation expense for property and equipment for both the three months ended March 31, 2026 and 2025 was $0.3 million. This expense was recorded in “general and administrative expenses” for each period.