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, net is composed of the following (in thousands):

	March 31,			December 31,
	2024			2023
Computer equipment and acquired computer software	$	5,286		$	4,537
Machinery, equipment, furniture and fixtures		9,843			9,238
Leasehold improvements		14,744			10,043
Quantum computing systems		29,836			28,296
Gross property and equipment		59,709			52,114
Less: accumulated depreciation		(17,329	)		(14,599	)
Total property and equipment, net	$	42,380		$	37,515

Depreciation expense for the three months ended March 31, 2024 and 2023 was $2.7 million and $1.2 million, respectively.