Property, Plant and Equipment, Net

6 Months Ended

Jun. 30, 2025

Property, Plant and Equipment [Abstract]

The following table provides information about Property, plant and equipment, net balances:


	Estimated Useful lives			June 30, 2025		December 31, 2024
Equipment	5	-	10 years	$	56,283	$	51,874
Finance lease	5		years	504		504
Furniture	5	-	10 years	2,676		2,369
Leasehold improvements	Lesser of useful life/ remaining lease			11,005		9,674
Tooling	2	-	3 years	11,583		9,955
Construction in progress (“CIP”)				27,426		—
Total				109,477		74,376
Less: Accumulated depreciation				(33,944)		(28,716)
Total property, plant and equipment, net				$	75,533	$	45,660

Depreciation expense related to property, plant and equipment was $2,910 and $1,349 for the three months ended June 30, 2025, and 2024 and $5,566 and $2,524 for the six months ended June 30, 2025, and 2024, respectively.

The Company recorded a loss from write-down of property, plant and equipment of $205 and $271 for the three months ended June 30, 2025, and 2024, and $766 and $336 for the six months ended June 30, 2025, and 2024, respectively. The write-downs were mainly due to design changes from the Z3™-Phase 1 to Z3™-Phase 2 production in which the Phase 1 production assets could not be utilized or repurposed for Phase 2 production. Additionally, the loss from write-down of property, plant and equipment contains costs for disposal of miscellaneous equipment and tooling that cannot be repurposed.

For the three and six months ended June 30, 2025, capitalized interest costs recognized were $357. On June 28, 2024, the Company successfully began commercial operations on the first manufacturing line. Accordingly, the assets classified as construction in progress were reclassified to equipment, leasehold improvements, furniture and tooling as of June 28, 2024. Included in construction in progress prior to the reclassification were capitalized interest costs of $991 and $1,841 for the three and six months ended June 30, 2024.