Balance Sheet Components

9 Months Ended

Sep. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Components

Balance Sheet Components

Property and Equipment, Net

Property and equipment, net consists of the following (in thousands):

	September 30, 2024		December 31, 2023
Equipment	$	99,752	$	84,639
Buildings	22,186		21,384
Leasehold improvements	20,226		18,771
Molds and tooling	19,291		16,306
Computer software	17,803		15,114
Land	6,270		6,270
Vehicles and aircraft	2,486		1,617
Furniture and fixtures	892		640
Construction in-progress	11,372		6,055
Gross property and equipment	200,278		170,796
Accumulated depreciation and amortization	(88,290)		(67,366)
Property and equipment, net	$	111,988	$	103,430

Depreciation and amortization expense of property and equipment for the three and nine months ended September 30, 2024 was $7.5 million and $21.7 million, respectively and $6.2 million and $17.7 million for the three and nine months ended September 30, 2023, respectively. Vehicles and aircraft includes utility automobiles used at the Company’s various facilities and purchased aircraft to support the Company’s air operations and training.

Intangible Assets, Net

The intangible assets consist of the following (in thousands):

	September 30, 2024		December 31, 2023
Automation platform software	$	7,200	$	7,200
Multimodal software technology	—		4,900
System simulation software technology	4,600		4,600
Developed Technology	6,900		—
Other intangibles	3,140		5,328
Gross intangible assets	21,840		22,028
Accumulated amortization	(12,279)		(15,443)
Intangible assets, net	$	9,561	$	6,585

Amortization expense related to intangible assets for the three and nine months ended September 30, 2024 was $1.4 million and $4.4 million, respectively and $1.5 million and $4.6 million for the three and nine months ended September 30, 2023, respectively. As of September 30, 2024 the weighted-average amortization period of intangible assets was 2.2 years

The following table presents the estimated future amortization expense of acquired amortizable intangible assets as of September 30, 2024 (in thousands):

Fiscal Year	Amount
2024 (remainder)	$	1,433
2025	4,633
2026	2,467
2027	1,028
	$	9,561

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following (in thousands):

	September 30, 2024		December 31, 2023
Prepaid equipment	$	4,646	$	3,471
Prepaid software	4,430		3,809
Prepaid taxes	3,029		1,603
Prepaid insurance	3,198		6,192
Other	2,113		3,767
Total	$	17,416	$	18,842

Other non-current assets

Other non-current assets consist of the following (in thousands):

	September 30, 2024		December 31, 2023
Contractual agreement asset	$	59,611	$	59,611
Long term prepaid insurance	293		413
Other non-current assets	703		586
Total	$	60,607	$	60,610

Accrued and other current liabilities

Accrued and other current liabilities consist of the following (in thousands):

	September 30, 2024		December 31, 2023
Vendor related accruals	$	14,544	$	11,391
Payroll accruals	9,340		16,265
Contract liabilities under contracts with customers	4,160		2,534
Deferred research and development credits	2,111		3,633
Other accruals and current liabilities	5,825		3,995
Total	$	35,980	$	37,818