Quarterly report pursuant to Section 13 or 15(d)

Balance Sheet Components

v3.23.1
Balance Sheet Components
3 Months Ended
Mar. 31, 2023
Balance Sheet Components [Abstract]  
Balance Sheet Components
4.
Balance Sheet Components

 

Other current assets consisted of the following:

 

 

 

March 31, 2023

 

 

December 31,

 

 

 

2023

 

 

2022

 

Technology and other prepaid contracts

 

$

4,905

 

 

$

4,695

 

Prepaid insurance

 

 

1,742

 

 

 

2,594

 

Deferred contract costs

 

 

435

 

 

 

439

 

Other receivables

 

 

1,411

 

 

 

1,123

 

Other current assets

 

 

456

 

 

 

428

 

 

$

8,949

 

 

$

9,279

 

 

Property and equipment, net consisted of the following:

 

 

 

March 31,

 

 

December 31,

 

 

2023

 

 

2022

 

Satellites in-service

 

$

51,207

 

 

$

49,889

 

Internally developed software

 

 

2,127

 

 

 

2,119

 

Ground stations in-service

 

 

3,370

 

 

 

3,369

 

Leasehold improvements

 

 

4,315

 

 

 

4,175

 

Machinery and equipment

 

 

3,987

 

 

 

3,585

 

Computer equipment

 

 

2,032

 

 

 

1,985

 

Computer software and website development

 

 

99

 

 

 

99

 

Furniture and fixtures

 

 

1,214

 

 

 

1,156

 

 

 

68,351

 

 

 

66,377

 

Less: Accumulated depreciation and amortization

 

 

(32,309

)

 

 

(32,974

)

 

 

36,042

 

 

 

33,403

 

Satellite, launch and ground station work in progress

 

 

19,088

 

 

 

15,364

 

Finished satellites not in-service

 

 

3,017

 

 

 

4,985

 

Property and equipment, net

 

$

58,147

 

 

$

53,752

 

 

 

Depreciation and amortization expense related to property and equipment for the three months ended March 31, 2023 and 2022 was $3,037 and $4,834, respectively.

Other accrued expenses consisted of the following:

 

 

 

March 31, 2023

 

 

December 31,

 

 

 

2023

 

 

2022

 

Professional services

 

$

915

 

 

$

1,198

 

Operating lease liabilities, current

 

 

2,504

 

 

 

2,333

 

Third-party operating costs

 

 

990

 

 

 

1,541

 

Corporate and sales tax

 

 

770

 

 

 

542

 

Accrued interest

 

 

847

 

 

 

765

 

Software

 

 

480

 

 

 

580

 

Other

 

 

1,090

 

 

 

1,251

 

 

 

$

7,596

 

 

$

8,210