Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, net

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Property and Equipment, net
 6 Months Ended
Jun. 30, 2024
Property, Plant and Equipment [Abstract]  
Property and Equipment, net Property and Equipment, net
The Company has property and equipment as follows (in thousands):
As of
June 30, 2024 December 31, 2023
Furniture and Equipment $ 118  $ 117 
Computer Equipment 225  219 
Leasehold Improvements 2,212  2,200 
Software 219  192 
Property and Equipment, gross 2,774  2,728 
Less Accumulated Depreciation (913) (724)
Foreign Currency Translation Adjustment (181) (127)
Property and Equipment, net $ 1,680  $ 1,877 
During the three months ended June 30, 2024 and June 30, 2023, the Company recorded depreciation expense of $0.1 million for both respective periods. During the six months ended June 30, 2024 and June 30, 2023, the Company recorded depreciation expense of $0.2 million for both respective periods.
The Company did not incur any impairment charges on its property and equipment during the three and six months ended June 30, 2024.
During the six months ended June 30, 2023, due to changes in the Company's estimated undiscounted future cash flows, a reassessment of its long-lived assets was performed. As a result, the carrying value of one of the Company's asset group’s property and equipment assets were written down to zero and an Impairment of Property and Equipment of $0.1 million was recorded within Operating Expenses in the condensed consolidated statement of operations.