v3.26.1
Property And Equipment, Net
 6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Property And Equipment, Net

6. PROPERTY AND EQUIPMENT, NET

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

 

 

June 30,

 

 

December 31,

 

 

2026

 

 

2025

 

Quantum computing systems

 

$

53,164

 

 

$

40,684

 

Satellites

 

 

76,238

 

 

 

61,698

 

Leasehold improvements

 

 

32,628

 

 

 

25,719

 

Machinery, equipment, furniture and fixtures

 

 

40,459

 

 

 

34,819

 

Computer equipment and acquired computer software

 

 

13,819

 

 

 

11,577

 

Gross property and equipment

 

 

216,308

 

 

 

174,497

 

Less: accumulated depreciation

 

 

(72,063

)

 

 

(54,352

)

Total property and equipment, net

 

$

144,245

 

 

$

120,145

 

 

Depreciation expense for the three months ended June 30, 2026 and 2025, was $13.4 million and $5.2 million, respectively. Depreciation expense for the six months ended June 30, 2026 and 2025, was $24.7 million and $9.6 million, respectively.