| Other Balance Sheet Components |
4.Other Balance Sheet Components
Other current assets consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
|
2024 |
|
|
2023 |
|
Technology and other prepaid contracts |
|
$ |
838 |
|
|
$ |
9,874 |
|
Notes receivable |
|
|
— |
|
|
|
3,344 |
|
Other receivables |
|
|
648 |
|
|
|
1,476 |
|
Prepaid insurance |
|
|
1,076 |
|
|
|
487 |
|
Deferred contract costs |
|
|
297 |
|
|
|
1,238 |
|
Other |
|
|
419 |
|
|
|
429 |
|
Other current assets |
|
$ |
3,278 |
|
|
$ |
16,848 |
|
Property and equipment, net consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
|
2024 |
|
|
2023 |
|
Satellites in-service |
|
$ |
32,768 |
|
|
$ |
59,751 |
|
Internally developed software |
|
|
1,760 |
|
|
|
2,138 |
|
Ground stations in-service |
|
|
4,978 |
|
|
|
4,444 |
|
Leasehold improvements |
|
|
5,707 |
|
|
|
5,800 |
|
Machinery and equipment |
|
|
5,479 |
|
|
|
4,787 |
|
Computer equipment |
|
|
1,327 |
|
|
|
1,908 |
|
Computer software and website development |
|
|
99 |
|
|
|
99 |
|
Furniture and fixtures |
|
|
1,335 |
|
|
|
1,336 |
|
|
|
|
53,453 |
|
|
|
80,263 |
|
Less: Accumulated depreciation and amortization |
|
|
(25,748 |
) |
|
|
(36,326 |
) |
|
|
|
27,705 |
|
|
|
43,937 |
|
Satellite, launch, and ground station work in progress |
|
|
27,624 |
|
|
|
16,483 |
|
Finished satellites not yet placed in-service |
|
|
8,009 |
|
|
|
26 |
|
Property and equipment, net |
|
$ |
63,338 |
|
|
$ |
60,446 |
|
Depreciation and amortization expense related to property and equipment was $18,501 and $14,711 for the years ended December 31, 2024 and 2023, respectively. There was a loss from decommissioned satellites of $3,447 and $747 for the years ended December 31, 2024 and 2023, respectively.
Other accrued expenses consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
|
2024 |
|
|
2023 |
|
Operating lease liabilities, current |
|
$ |
3,260 |
|
|
$ |
3,506 |
|
Professional services |
|
|
2,622 |
|
|
|
913 |
|
Accrued operating costs |
|
|
1,829 |
|
|
|
1,088 |
|
Accrued interest |
|
|
1,709 |
|
|
|
853 |
|
Legal matters |
|
|
1,479 |
|
|
|
— |
|
Software |
|
|
792 |
|
|
|
754 |
|
Corporate and sales tax |
|
|
120 |
|
|
|
285 |
|
Other |
|
|
1,215 |
|
|
|
927 |
|
Other accrued expenses |
|
$ |
13,026 |
|
|
$ |
8,326 |
|
|