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

5. Property and Equipment, Net

Property and equipment, net consisted of the following as of June 30, 2026 and December 31, 2025:

 

 

June 30,

 

 

December 31,

 

 

 

2026

 

 

2025

 

Machinery and equipment

 

$

55,931

 

 

$

47,124

 

Test stands

 

 

51,940

 

 

 

42,255

 

Buildings

 

 

60,762

 

 

 

48,999

 

Land and land improvements

 

 

5,800

 

 

 

5,123

 

Construction in progress

 

 

30,285

 

 

 

38,654

 

Furniture and fixtures

 

 

5,813

 

 

 

3,359

 

Computer equipment

 

 

6,398

 

 

 

5,713

 

Software

 

 

384

 

 

 

1,141

 

Vehicles

 

 

501

 

 

 

479

 

Leasehold improvements

 

 

19,786

 

 

 

12,984

 

Total

 

 

237,600

 

 

 

205,831

 

Less: Accumulated depreciation

 

 

(51,543

)

 

 

(42,093

)

Property and equipment, net

 

$

186,057

 

 

$

163,738

 

Depreciation expense was $6.0 million and $3.9 million for the three months ended June 30, 2026 and 2025, respectively, and $14.7 and $7.9 for the six months ended June 30, 2026 and 2025, respectively, and was recorded in the unaudited condensed consolidated statements of net loss within cost of sales, research and development, and selling, general, and administrative expenses.