Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, Net

v3.22.2.2
Property and Equipment, Net
 9 Months Ended
Sep. 30, 2022
Property, Plant and Equipment [Abstract]  
Property, and Equipment, Net Property and Equipment, Net
Property and equipment, net is comprised of the following:
September 30,
2022		 December 31,
2021
Furniture and fixtures
 $ 2,236  $ 1,305 
Machinery and equipment
 3,981  1,595 
Computer equipment and capitalized software
 5,222  2,638 
Leasehold improvements
 21,984  12,457 
Total property and equipment
 33,423  17,995 
Less accumulated depreciation
 (7,160) (3,338)
Total property and equipment, net
 $ 26,263  $ 14,657 
Total depreciation expense was $1.4 million and $0.9 million for the three months ended September 30, 2022 and 2021, respectively, and was $4.1 million and $1.7 million for the nine months ended September 30, 2022 and 2021, respectively. Property and equipment that is fully depreciated as of the last day of a fiscal year is written off during the first quarter of the following year. On January 1, 2022, the Company established a policy to classify all capitalized software, website design and software systems as property and equipment, resulting in a reclassification of such assets and related depreciation and amortization from intangible assets, net, to property and equipment, net.