Quarterly report pursuant to Section 13 or 15(d)

Property, Plant, and Equipment, net (Tables)

v3.23.2
Property, Plant, and Equipment, net (Tables)
 6 Months Ended
Jun. 30, 2023
Property, Plant and Equipment [Abstract]  
Summary of Estimated Useful Lives of Assets Depreciation expense is calculated using the sum-of-the-years’ digits or straight-line method over the estimated useful lives of the related assets as follows:

 

Machinery and equipment

 

5-7 years

Satellites

 

3-5 years

Ground station equipment

 

5-7 years

Office equipment and furniture

 

5-7 years

Computer equipment and software

 

3-5 years

Leasehold improvements

 

Shorter of the estimated useful life or remaining lease term
Schedule of Property, Plant, and Equipment, net

The gross carrying amount, accumulated depreciation, and net carrying amount of property, plant, and equipment, net as of the dates presented were as follows:

 

(in thousands)

 

June 30, 2023

 

 

December 31, 2022

 

Machinery and equipment

 

$

20,782

 

 

$

13,066

 

Satellites

 

 

2,209

 

 

 

2,209

 

Ground station equipment

 

 

2,020

 

 

 

1,944

 

Office equipment and furniture

 

 

3,762

 

 

 

2,958

 

Software

 

 

899

 

 

 

240

 

Leasehold improvements

 

 

10,658

 

 

 

9,734

 

Construction-in-process

 

 

19,193

 

 

 

9,467

 

Property, plant, and equipment, gross

 

 

59,523

 

 

 

39,618

 

Accumulated depreciation

 

 

(17,952

)

 

 

(14,875

)

Property, plant, and equipment, net

 

$

41,571

 

 

$

24,743