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Property and Equipment, net
 6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment, after Accumulated Depreciation, Depletion, and Amortization [Abstract]  
Property and Equipment, net Property and Equipment, net
The Company’s property and equipment, net, consist of (in thousands):
June 30, 2026December 31, 2025
Computer and lab equipment$34,472 $13,070 
Network equipment45 35 
Furniture and fixtures355 99 
Software1,187 374 
Leasehold improvements6,589 2,303 
Construction in progress5,731 - 
Total cost of property and equipment48,379 15,881 
Accumulated depreciation(5,481)(2,910)
Property and equipment, net$42,898 $12,971 
The Company recorded depreciation expense of $1.5 million and $2.6 million during the three and six months ended June 30, 2026, respectively, and $0.2 million and $0.4 million during the three and six months ended June 30, 2025, respectively. Useful lives of the Company’s long-lived assets are as follows:
Estimated
Useful
Life
(Years)
Computer and lab equipment5
Network equipment4
Furniture and fixtures7
Software3
Leasehold improvements
Lesser of lease term or 5
Maintenance and repairs are charged to operations when incurred. When property and equipment are sold or otherwise disposed, the asset account and related accumulated depreciation and amortization accounts are relieved, and any gain or loss is included in other income or expense. There were no significant gains or losses in the three and six months ended June 30, 2026 or 2025.