PROPERTY AND EQUIPMENT, NET |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property, Plant, and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PROPERTY AND EQUIPMENT, NET | PROPERTY AND EQUIPMENT, NET The following is a summary of property and equipment, net (in thousands):
The Company recorded depreciation expense of $3.7 million and $0.8 million for the three months ended June 30, 2026 and 2025, respectively. The Company recorded depreciation expense of $7.1 million and $1.3 million for the six months ended June 30, 2026 and 2025, respectively. As of June 30, 2026, property and equipment included a $4.4 million reduction related to tariff refunds recognized during the period as a result of the U.S. Supreme Court ruling under the International Emergency Economic Powers Act (“IEEPA”). As of June 30, 2026, $3.6 million is reflected in robot assets and the remaining $0.8 million is reflected in construction in progress. Refer to Note 12. Commitments and Contingencies for further information.
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