Annual report [Section 13 and 15(d), not S-K Item 405]

Balance Sheet Components

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Balance Sheet Components
 12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet Components Balance Sheet Components
Property and Equipment, Net
Property and equipment, net consists of the following (in thousands):
December 31,
2024 2023
Equipment $ 103,694  $ 84,639 
Buildings 22,186  21,384 
Leasehold improvements 20,569  18,771 
Computer software 18,072  15,114 
Molds and tooling 22,409  16,306 
Land 6,270  6,270 
Vehicles and aircraft 2,486  1,617 
Furniture and fixtures 1,110  640 
Construction in-progress 19,583  6,055 
Gross property and equipment 216,379  170,796 
Accumulated depreciation and amortization (95,425) (67,366)
Property and equipment, net $ 120,954  $ 103,430 
Depreciation and amortization expense of property and equipment for the years ended December 31, 2024 and 2023 was $29.7 million and $24.4 million, respectively. Vehicles and aircraft includes utility automobiles used at the Company's various facilities and purchased aircraft to support the Company's air operations and training.
Intangible Assets, Net
The intangible assets consist of the following (in thousands):
December 31,
2024 2023
Automation platform software $ 7,200  $ 7,200 
Multimodal software technology —  4,900 
System simulation software technology 4,600  4,600 
Developed technology 6,900  — 
Other intangibles 1,485  5,328 
Gross intangible assets 20,185  22,028 
Accumulated amortization (12,058) (15,443)
Intangible assets, net $ 8,127  $ 6,585 
Amortization expense related to intangible assets for the years ended December 31, 2024 and 2023 was $5.9 million and $6.1 million, respectively. As of December 31, 2024 the weighted-average amortization period of intangible assets was 2.02 years.
The following table presents the estimated future amortization expense of acquired amortizable intangible assets (in thousands):
Fiscal Year December 31, 2024
2025 $ 4,632 
2026 2,467 
2027 1,028 
$ 8,127 
Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consist of the following (in thousands):
December 31,
2024 2023
Prepaid equipment $ 3,998  $ 3,471 
Prepaid software 7,794  3,809 
Prepaid taxes 3,183  1,603 
Prepaid insurance 3,565  6,192 
Other 2,170  3,767 
Total $ 20,710  $ 18,842 
Other non-current assets
Other non-current assets consist of the following (in thousands):
December 31,
2024 2023
Contractual agreement asset $ 59,611  $ 59,611 
Long-term prepaid insurance 625  413 
Other non-current assets 770  586 
Total $ 61,006  $ 60,610 
Accrued and other current liabilities
Accrued and other current liabilities consist of the following (in thousands):
December 31,
2024 2023
Vendor related accruals $ 20,026  $ 11,391 
Payroll accruals 6,619  16,265 
Contract liabilities under contracts with customers 5,161  2,534 
Deferred research and development credits 1,712  3,633 
Other accruals and current liabilities 5,324  3,995 
Total $ 38,842  $ 37,818