Property And Equipment, Net

6 Months Ended

Jun. 30, 2025

Property, Plant and Equipment [Abstract]

6. PROPERTY AND EQUIPMENT, NET

Property and equipment, net is composed of the following (in thousands):


	June 30,			December 31,
	2025			2024
Quantum computing systems	$	40,968		$	38,374
Leasehold improvements		20,505			17,921
Machinery, equipment, furniture and fixtures		26,497			16,683
Computer equipment and acquired computer software		7,887			7,395
Gross property and equipment		95,857			80,373
Less: accumulated depreciation		(37,299	)		(27,612	)
Total property and equipment, net	$	58,558		$	52,761

Depreciation expense for the three months ended June 30, 2025 and 2024, was $5.2 million and $2.9 million, respectively. Depreciation expense for the six months ended June 30, 2025 and 2024, was $9.6 million and $5.6 million, respectively.