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Property and Equipment, Net
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net
NOTE 5 - PROPERTY AND EQUIPMENT, NET
As of December 31, 2023 and 2022, property and equipment, net consisted of the following (in thousands):
December 31,
2023		December 31,
2022
Leasehold improvements$— $1,544 
Vehicles and trailers129 129 
Computers and software2,864 1,673 
Furniture and fixtures1,666 794 
Machinery and equipment2,772 2,211 
Construction in progress13,795 17,747 
Property and equipment, gross21,226 24,098 
Less: accumulated depreciation and amortization(2,877)(2,922)
Property and equipment, net$18,349 $21,176 
Total depreciation expense related to property and equipment for the years ended December 31, 2023 and 2022 was $1.4 million and $1.1 million, respectively.
As of December 31, 2023 and 2022, the Company pledged property and equipment with net book value of approximately $18.3 million and $20.3 million, respectively, as security for its Credit Mobilization Facility (as defined below) with Live Oak Banking Company.
As of December 31, 2023, construction in progress includes construction costs of $13.5 million associated with the fabrication of a commercial communications satellite. The Company capitalized interest in connection with construction in progress of $967 thousand and $247 thousand for the years ended December 31, 2023 and 2022, respectively.

During the fourth quarter of 2023 and in connection with moving operations to our new facility, the Lunar Production and Operations Center (“LPOC”), as discussed further in Note 6, management identified the move as a significant adverse change in the usage of space from our prior facility. As such, management determined that certain leasehold improvements and furniture and fixtures from our prior facility will not be utilized at the LPOC and the carrying value will not be recoverable. For the year ended December 31, 2023, we recorded impairment charges of approximately $1.0 million in our consolidated statements of operations.