Quarterly report pursuant to Section 13 or 15(d)

Balance Sheet Components

v3.22.2.2
Balance Sheet Components
3 Months Ended
Mar. 31, 2022
Balance Sheet Components [Abstract]  
Balance Sheet Components
4.
Balance Sheet Components

 

Other current assets consisted of the following:

 

 

 

March 31,

 

 

December 31,

 

 

 

2022

 

 

2021

 

Technology and other prepaid contracts

 

$

2,563

 

 

$

744

 

Prepaid insurance

 

 

3,018

 

 

 

4,430

 

Deferred contract costs

 

 

741

 

 

 

885

 

Other receivables

 

 

1,281

 

 

 

1,396

 

Other current assets

 

 

848

 

 

 

2,616

 

 

 

$

8,451

 

 

$

10,071

 

 

 

Property and equipment, net consisted of the following:

 

 

 

March 31,

 

 

December 31,

 

 

 

2022

 

 

2021

 

Satellites in-service

 

$

54,767

 

 

$

51,368

 

Internally developed software

 

 

2,149

 

 

 

2,160

 

Ground stations in-service

 

 

2,200

 

 

 

2,200

 

Leasehold improvements

 

 

4,998

 

 

 

1,754

 

Machinery and equipment

 

 

2,981

 

 

 

2,761

 

Computer equipment

 

 

2,234

 

 

 

2,168

 

Computer software and website development

 

 

472

 

 

 

472

 

Furniture and fixtures

 

 

1,159

 

 

 

1,167

 

 

 

 

70,960

 

 

 

64,050

 

Less: Accumulated depreciation and amortization

 

 

(31,988

)

 

 

(30,120

)

 

 

 

38,972

 

 

 

33,930

 

Satellite, launch and ground station work in progress

 

 

12,087

 

 

 

11,478

 

Finished satellites not in-service

 

 

1,012

 

 

 

3,296

 

Property and equipment, net

 

$

52,071

 

 

$

48,704

 

 

Other accrued expenses consisted of the following:

 

 

 

March 31,

 

 

December 31,

 

 

 

2022

 

 

2021

 

Professional services

 

$

2,428

 

 

$

1,164

 

Operating lease liabilities, current

 

 

1,957

 

 

 

-

 

Third-party operating costs

 

 

702

 

 

 

514

 

Corporate and sales tax

 

 

416

 

 

 

195

 

Royalties

 

 

634

 

 

 

386

 

Accrued interest

 

 

276

 

 

 

276

 

Software

 

 

613

 

 

 

1,036

 

Satellite/launch/ground station material

 

 

 

 

 

312

 

Other

 

 

716

 

 

 

940

 

 

 

$

7,742

 

 

$

4,823

 

 

Depreciation and amortization expense related to property and equipment for the three months ended March 31, 2022 was $4,834. Depreciation and amortization expense related to property and equipment for the three months ended March 31, 2021 was $1,711, including amortization of internal-use software of $34.