Property and Equipment, Net

3 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

5. PROPERTY AND EQUIPMENT, NET

Property and equipment are stated at cost or estimated fair value for assets acquired through business combinations. Depreciation and amortization are provided using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized using the straight-line method over the shorter of the remaining lease term, including options that are deemed to be reasonably assured, or the estimated useful life of the improvement.

Property and equipment, net, consisted of the following:

	Estimated	March 31,			December 31,
	Useful Life	2024			2023
Lab and test equipment	7 years	$	20,823		$	20,341
Vehicles	5 years		6,063			6,033
Equipment	3-7 years		52,324			50,387
Furniture and fixtures	7 years		2,961			2,963
Leasehold improvements	7 years		11,845			10,808
Aircraft	10-20 years		12,312			12,312
Building	39 years		5,748			5,748
			112,076			108,592
Land			1,089			1,089
Construction in progress			6,147			3,956
Less accumulated depreciation			(59,567	)		(56,812	)
Total property and equipment, net		$	59,745		$	56,825

Total depreciation expense included in the unaudited condensed consolidated statements of operations was $2.9 million and $2.2 million for the three months ended March 31, 2024 and 2023, respectively.