Property and Equipment, Net

9 Months Ended

Oct. 31, 2021

Rigetti Holdings [Member]

Property, Plant and Equipment [Line Items]

Property and Equipment, Net

4. Property and Equipment, Net

Property and equipment as of October 31, 2021 and January 31, 2021 are composed of the following:

	October 31, 2021			January 31, 2021
Quantum computing fridges	$	16,792,691		$	14,251,579
Process equipment		15,565,055			12,747,756
Leasehold improvements		4,253,506			4,077,646
IT Hardware		2,425,361			1,999,082
Furniture and other assets		1,246,068			1,246,067
Total property and equipment	$	40,282,681		$	34,322,130
Less: Accumulated depreciation		(17,886,263	)		(14,181,258	)
Property and equipment—net	$	22,396,418		$	20,140,872

As of October 31, 2021, 98% of the total gross property and equipment were located in the United States, and 2% of the total gross property and equipment were located in the United Kingdom. As of October 31, 2020, 100% of the total gross property and equipment were located in the United States. Total depreciation expense for the nine months ended October 31, 2021 and 2020 was $3,705,006 and $3,184,045, respectively. The Company has not acquired any property and equipment under capital leases.