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


	As of
	March 31,			December 31,
	2026			2025
Land	$	1,925		$	1,925
Buildings and building improvements		35,221			29,030
Leasehold improvements		18,347			15,241
Satellites in orbit		235,387			235,387
Lab, assembly, and integration equipment		114,230			95,332
Satellite antenna		7,224			7,224
Computer hardware and software		25,960			25,131
Other		2,374			1,999
Construction in progress
Satellite materials and advance payments, satellites under construction, and advance launch payments		1,323,712			1,122,027
Other construction in progress and capital advances		64,894			39,176
Total property and equipment, gross	$	1,829,274		$	1,572,472
Accumulated depreciation and amortization		(191,012	)		(173,711	)
Total property and equipment, net	$	1,638,262		$	1,398,761

Total depreciation and amortization expense for the three months ended March 31, 2026 and 2025 was approximately $17.6 million and $11.0 million, respectively. During the three months ended March 31, 2026 and 2025, the Company recognized losses on disposal of property and equipment of $1.8 million and less than $0.1 million, respectively, and presented the losses in other (expense) income, net in the Company’s unaudited condensed consolidated statements of operations. These losses primarily relate to equipment retired from service and satellite materials removed from construction in progress as a result of design modifications and advances in manufacturing processes and technology.