| Balance Sheet Components |
4.Balance Sheet Components
Other current assets consisted of the following:
|
|
|
|
|
|
|
|
|
|
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March 31, |
|
|
December 31, |
|
|
|
2024 |
|
|
2023 |
|
Technology and other prepaid contracts |
|
$ |
4,394 |
|
|
$ |
4,149 |
|
Notes receivable |
|
|
4,500 |
|
|
|
4,500 |
|
Prepaid insurance |
|
|
956 |
|
|
|
1,476 |
|
Deferred contract costs |
|
|
542 |
|
|
|
487 |
|
Other receivables |
|
|
1,621 |
|
|
|
1,237 |
|
Other |
|
|
228 |
|
|
|
491 |
|
Other current assets |
|
$ |
12,241 |
|
|
$ |
12,340 |
|
Property and equipment, net consisted of the following:
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|
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|
|
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|
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March 31, |
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December 31, |
|
|
|
2024 |
|
|
2023 |
|
Satellites in-service |
|
$ |
53,496 |
|
|
$ |
59,751 |
|
Internally developed software |
|
|
2,134 |
|
|
|
2,138 |
|
Ground stations in-service |
|
|
4,440 |
|
|
|
4,444 |
|
Leasehold improvements |
|
|
5,794 |
|
|
|
5,800 |
|
Machinery and equipment |
|
|
4,069 |
|
|
|
4,787 |
|
Computer equipment |
|
|
1,833 |
|
|
|
1,908 |
|
Computer software and website development |
|
|
99 |
|
|
|
99 |
|
Furniture and fixtures |
|
|
1,329 |
|
|
|
1,336 |
|
|
|
|
73,194 |
|
|
|
80,263 |
|
Less: Accumulated depreciation and amortization |
|
|
(37,219 |
) |
|
|
(36,326 |
) |
|
|
|
35,975 |
|
|
|
43,937 |
|
Satellite, launch and ground station work in progress |
|
|
28,955 |
|
|
|
22,208 |
|
Finished satellites not yet placed in-service |
|
|
6,923 |
|
|
|
5,064 |
|
Property and equipment, net |
|
$ |
71,853 |
|
|
$ |
71,209 |
|
Depreciation and amortization expense related to property and equipment for the three months ended March 31, 2024 and 2023 was $5,957 and $3,037, respectively.
The Company recorded a $178 loss on decommissioned satellites for the three months ended March 31, 2024. There were no satellites decommissioned or impaired in the three months ended March 31, 2023.
Other accrued expenses consisted of the following:
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|
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March 31, |
|
|
December 31, |
|
|
|
2024 |
|
|
2023 |
|
Operating lease liabilities, current |
|
$ |
3,425 |
|
|
$ |
3,506 |
|
Warrant liability, current |
|
|
1,917 |
|
|
|
— |
|
Professional services |
|
|
1,359 |
|
|
|
913 |
|
Third-party operating costs |
|
|
683 |
|
|
|
1,088 |
|
Corporate and sales tax |
|
|
546 |
|
|
|
245 |
|
Accrued interest |
|
|
911 |
|
|
|
853 |
|
Software |
|
|
571 |
|
|
|
754 |
|
Other |
|
|
1,897 |
|
|
|
1,181 |
|
Other accrued expenses |
|
$ |
11,309 |
|
|
$ |
8,540 |
|
|