v3.26.3
Property And Equipment, Net
 9 Months Ended
Sep. 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):

 

 

September 30,

 

 

December 31,

 

 

2026

 

 

2025

 

Quantum computing systems

 

$

58,601

 

 

$

40,684

 

Satellites

 

 

84,955

 

 

 

61,698

 

Land

 

 

8,140

 

 

 

—

 

Buildings

 

 

191,281

 

 

 

—

 

Leasehold and building improvements

 

 

52,637

 

 

 

25,719

 

Machinery, equipment, furniture and fixtures

 

 

600,973

 

 

 

34,819

 

Computer equipment and acquired computer software

 

 

15,616

 

 

 

11,577

 

Gross property and equipment

 

 

1,012,203

 

 

 

174,497

 

Less: accumulated depreciation

 

 

(152,780

)

 

 

(54,352

)

Total property and equipment, net

 

$

859,423

 

 

$

120,145

 

 

Depreciation expense for the three months ended September 30, 2026 and 2025, was $85.8 million and $9.3 million, respectively. Depreciation expense for the nine months ended September 30, 2026 and 2025, was $110.5 million and $18.9 million, respectively.