Quarterly report pursuant to Section 13 or 15(d)

Balance Sheet Components

v3.22.2
Balance Sheet Components
6 Months Ended
Jun. 30, 2022
Balance Sheet Components [Abstract]  
Balance Sheet Components
4.
Balance Sheet Components

 

Other current assets consisted of the following:

 

 

 

June 30,

 

 

December 31,

 

 

 

2022

 

 

2021

 

Technology and other prepaid contracts

 

$

3,022

 

 

$

744

 

Prepaid insurance

 

 

1,255

 

 

 

4,430

 

Deferred contract costs

 

 

588

 

 

 

885

 

Other receivables

 

 

1,281

 

 

 

1,396

 

Other current assets

 

 

319

 

 

 

2,616

 

 

 

$

6,465

 

 

$

10,071

 

 

Property and equipment, net consisted of the following:

 

 

 

June 30,

 

 

December 31,

 

 

 

2022

 

 

2021

 

Satellites in-service

 

$

54,729

 

 

$

51,368

 

Internally developed software

 

 

2,120

 

 

 

2,160

 

Ground stations in-service

 

 

2,821

 

 

 

2,200

 

Leasehold improvements

 

 

4,656

 

 

 

1,754

 

Machinery and equipment

 

 

2,987

 

 

 

2,761

 

Computer equipment

 

 

2,521

 

 

 

2,168

 

Computer software and website development

 

 

472

 

 

 

472

 

Furniture and fixtures

 

 

1,112

 

 

 

1,167

 

 

 

 

71,418

 

 

 

64,050

 

Less: Accumulated depreciation and amortization

 

 

(31,884

)

 

 

(30,120

)

 

 

 

39,534

 

 

 

33,930

 

Satellite, launch and ground station work in progress

 

 

14,528

 

 

 

11,478

 

Finished satellites not in-service

 

 

1,011

 

 

 

3,296

 

Property and equipment, net

 

$

55,073

 

 

$

48,704

 

 

Other accrued expenses consisted of the following:

 

 

 

June 30,

 

 

December 31,

 

 

 

2022

 

 

2021

 

Professional services

 

$

1,912

 

 

$

1,164

 

Operating lease liabilities, current

 

 

1,889

 

 

 

-

 

Third-party operating costs

 

 

1,708

 

 

 

900

 

Corporate and sales tax

 

 

546

 

 

 

195

 

Accrued interest

 

 

442

 

 

 

276

 

Software

 

 

737

 

 

 

1,036

 

Other

 

 

1,067

 

 

 

1,252

 

 

 

$

8,301

 

 

$

4,823

 

 

Depreciation and amortization expense related to property and equipment for the three and six months ended June 30, 2022 was $4,507 and $9,341, respectively. Depreciation and amortization expense related to property and equipment for the three and six months ended June 30, 2021 was $1,829 and $3,540, respectively, including amortization of internal-use software of $22 and $47, respectively.