Every situation is obviously different, but I've been there. Our equipment had a build cost of just under $100k when were at the pre-production stages.
The problem isn't just working from home, it's "how do you give enough developers/testers" access to the equipment when each unit requires such a high upfront cost and ongoing maintenance and physical space, supplies, etc? So even if everyone is working in the lab, it's still a problem.
Our response was to create extremely detailed simulations of every aspect of the behavior. The code ran on our laptops exactly the same way it would on physical hardware. By simply flipping a switch in a config file, the software would either run on real hardware, or start up with simulated hardware.
Of course, we still needed to test on real hardware, but because we were forced to create the simulation to allow enough developers simultaneous access, it also made it easier for us to work from home :-)