v3.26.1
PREPAID EXPENSES AND OTHER CURRENT ASSETS
 6 Months Ended
Jun. 30, 2026
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
PREPAID EXPENSES AND OTHER CURRENT ASSETS PREPAID EXPENSES AND OTHER CURRENT ASSETS
Prepaid expenses and other current assets consisted of the following:

(in thousands)June 30, 2026December 31, 2025
Prepaid purchases$3,631 $443 
Less: prepaid purchases reserve(75)(75)
Prepaid purchases, net3,556 368 
Prepaid insurance954 1,768 
Right of return asset351 351 
Prepaid software costs— 878 
Other863 583 
Prepaid expenses and other current assets$5,724 $3,948 

Prepaid purchases consist of deposits made to our suppliers for non-recurring engineering costs and production parts. As of June 30, 2026 and December 31, 2025, net prepaid purchases primarily consisted of deposits for direct materials associated
with the manufacturing of our vehicles, and has increased since year end primarily due to purchasing parts for sold vehicle orders.