| Schedule of property and equipment |
Property and equipment consists of the following (in thousands):
| | | | | | | | | | | | | As of: | | March 31,
2025 | | December 31,
2024 | | Globalstar System: | | | | | Space component | $ | 1,121,662 | | | $ | 1,167,332 | | | | | | | Ground component | 103,632 | | | 102,717 | | | Construction in progress: | | | | | Space component | 479,690 | | | 357,825 | | | Ground component | 25,931 | | | 20,545 | | | Other | 8,955 | | | 8,727 | | | Total Globalstar System | 1,739,870 | | | 1,657,146 | | | Internally developed and purchased software | 25,314 | | | 24,309 | | | Equipment | 15,279 | | | 14,904 | | | Land and buildings | 3,410 | | | 3,222 | | | Leasehold improvements | 2,210 | | | 2,180 | | | Total property and equipment | 1,786,083 | | | 1,701,761 | | | Accumulated depreciation | (1,011,877) | | | (1,028,129) | | | Total property and equipment, net | $ | 774,206 | | | $ | 673,632 | |
|