Tailwind Two Acquisition Corp. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Property, Plant, and Equipment, net (Tables)

Property, Plant, and Equipment, net (Tables)

3 Months Ended

Mar. 31, 2024

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)	March 31, 2024			December 31, 2023
Machinery and equipment	$	32,568		$	28,321
Satellites		2,209			2,209
Ground station equipment		2,095			2,095
Office equipment and furniture		4,216			4,621
Software		1,583			1,582
Leasehold improvements		21,869			21,800
Construction-in-process		10,106			9,210
Property, plant, and equipment, gross		74,646			69,838
Accumulated depreciation		(26,290	)		(23,389	)
Property, plant, and equipment, net	$	48,356		$	46,449