| Balance Sheet Components |
4.Balance Sheet Components
Other current assets consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
September 30, |
|
|
December 31, |
|
|
|
2024 |
|
|
2023 |
|
Technology and other prepaid contracts |
|
$ |
3,114 |
|
|
$ |
9,874 |
|
Notes receivable |
|
|
1,125 |
|
|
|
3,344 |
|
Other receivables |
|
|
1,394 |
|
|
|
1,476 |
|
Prepaid insurance |
|
|
1,704 |
|
|
|
487 |
|
Deferred contract costs |
|
|
468 |
|
|
|
1,238 |
|
Other |
|
|
450 |
|
|
|
429 |
|
Other current assets |
|
$ |
8,255 |
|
|
$ |
16,848 |
|
Property and equipment, net consisted of the following:
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|
|
|
|
|
|
|
|
|
|
September 30, |
|
|
December 31, |
|
|
|
2024 |
|
|
2023 |
|
Satellites in-service |
|
$ |
41,392 |
|
|
$ |
59,751 |
|
Internally developed software |
|
|
1,760 |
|
|
|
2,138 |
|
Ground stations in-service |
|
|
4,449 |
|
|
|
4,444 |
|
Leasehold improvements |
|
|
6,001 |
|
|
|
5,800 |
|
Machinery and equipment |
|
|
4,513 |
|
|
|
4,787 |
|
Computer equipment |
|
|
1,807 |
|
|
|
1,908 |
|
Computer software and website development |
|
|
99 |
|
|
|
99 |
|
Furniture and fixtures |
|
|
1,393 |
|
|
|
1,336 |
|
|
|
|
61,414 |
|
|
|
80,263 |
|
Less: Accumulated depreciation and amortization |
|
|
(26,304 |
) |
|
|
(36,326 |
) |
|
|
|
35,110 |
|
|
|
43,937 |
|
Satellite, launch, and ground station work in progress |
|
|
32,814 |
|
|
|
16,483 |
|
Finished satellites not yet placed in-service |
|
|
411 |
|
|
|
26 |
|
Property and equipment, net |
|
$ |
68,335 |
|
|
$ |
60,446 |
|
Depreciation and amortization expense related to property and equipment was $2,328 and $13,733 for the three and nine months ended September 30, 2024, respectively. Depreciation and amortization expense related to property and equipment was $2,877 and $8,998 for the three and nine months ended September 30, 2023, respectively.
The Company recorded losses of $246 and $953 on decommissioned satellites for the three and nine months ended September 30, 2024, respectively. The Company recorded losses of $156 and $628 on decommissioned satellite for the three and nine months ended September 30, 2023, respectively.
Other accrued expenses consisted of the following:
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|
|
|
|
|
|
|
|
|
September 30, |
|
|
December 31, |
|
|
|
2024 |
|
|
2023 |
|
Operating lease liabilities, current |
|
$ |
3,180 |
|
|
$ |
3,506 |
|
Accrued operating costs |
|
|
1,513 |
|
|
|
913 |
|
Professional services |
|
|
2,027 |
|
|
|
1,088 |
|
Corporate and sales tax |
|
|
233 |
|
|
|
285 |
|
Accrued interest |
|
|
907 |
|
|
|
853 |
|
Software |
|
|
1,741 |
|
|
|
754 |
|
Other |
|
|
1,403 |
|
|
|
927 |
|
Other accrued expenses |
|
$ |
11,004 |
|
|
$ |
8,326 |
|
|