Quarterly report pursuant to Section 13 or 15(d)

Balance Sheet Components

v3.22.2.2
Balance Sheet Components
9 Months Ended
Sep. 30, 2022
Balance Sheet Components [Abstract]  
Balance Sheet Components
4.
Balance Sheet Components

 

Other current assets consisted of the following:

 

 

 

September 30,

 

 

December 31,

 

 

 

2022

 

 

2021

 

Technology and other prepaid contracts

 

$

2,762

 

 

$

744

 

Prepaid insurance

 

 

3,484

 

 

 

4,430

 

Deferred contract costs

 

 

463

 

 

 

885

 

Other receivables

 

 

963

 

 

 

1,396

 

Other current assets

 

 

520

 

 

 

2,616

 

 

 

$

8,192

 

 

$

10,071

 

 

Property and equipment, net consisted of the following:

 

 

 

September 30,

 

 

December 31,

 

 

 

2022

 

 

2021

 

Satellites in-service

 

$

50,218

 

 

$

51,368

 

Internally developed software

 

 

2,091

 

 

 

2,160

 

Ground stations in-service

 

 

3,191

 

 

 

2,200

 

Leasehold improvements

 

 

4,314

 

 

 

1,754

 

Machinery and equipment

 

 

2,871

 

 

 

2,761

 

Computer equipment

 

 

2,529

 

 

 

2,168

 

Computer software and website development

 

 

472

 

 

 

472

 

Furniture and fixtures

 

 

1,186

 

 

 

1,167

 

 

 

 

66,872

 

 

 

64,050

 

Less: Accumulated depreciation and amortization

 

 

(31,059

)

 

 

(30,120

)

 

 

 

35,813

 

 

 

33,930

 

Satellite, launch and ground station work in progress

 

 

15,913

 

 

 

11,478

 

Finished satellites not in-service

 

 

982

 

 

 

3,296

 

Property and equipment, net

 

$

52,708

 

 

$

48,704

 

 

Other accrued expenses consisted of the following:

 

 

 

September 30,

 

 

December 31,

 

 

 

2022

 

 

2021

 

Professional services

 

$

1,568

 

 

$

1,164

 

Operating lease liabilities, current

 

 

1,821

 

 

 

-

 

Third-party operating costs

 

 

1,802

 

 

 

900

 

Corporate and sales tax

 

 

646

 

 

 

195

 

Accrued interest

 

 

638

 

 

 

276

 

Software

 

 

630

 

 

 

1,036

 

Other

 

 

776

 

 

 

1,252

 

 

 

$

7,881

 

 

$

4,823

 

 

Depreciation and amortization expense related to property and equipment for the three and nine months ended September 30, 2022 was $2,994 and $8,857, respectively. Depreciation and amortization expense related to property and equipment for the three and nine months ended September 30, 2021 was $2,075 and $5,615, respectively, including amortization of internal-use software of $0 and $34, respectively.