Joby Aviation, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Balance Sheet Components

Balance Sheet Components

12 Months Ended

Dec. 31, 2021

Balance Sheet Components [Abstract]

Balance Sheet Components

Note 6. Balance Sheet Components

Property and Equipment, Net

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


	December 31,
	2021			2020
Equipment	$	45,501		$	29,229
Computer software		8,410			5,992
Leasehold improvements		9,364			5,724
Molds and tooling		8,052			3,269
Vehicles and aircraft		1,198			211
Furniture and fixtures		319			95
Construction in-progress		6,394			3,741
Gross property and equipment		79,238			48,261
Accumulated depreciation and amortization		(26,083	)		(14,135	)
Property and equipment, net	$	53,155		$	34,126

Depreciation and amortization expense of Property and equipment for the years ended December 31, 2021 and 2020 was $12.1 million and $7.4 million, respectively. Vehicles and aircraft includes utility automobiles used at our various facilities and purchased aircraft to support Part 135 operations and training.

Intangible Assets, Net

The intangible assets consist of the following:


	December 31,
	2021			2020
Automation Platform Software	$	7,200		$	—
Multimodal Software Technology		4,900			—
System Simulation Software Technology		4,600			—
Other Intangibles		1,655			—
Gross intangible assets		18,355			—
Accumulated amortization		(3,843	)		—
Intangible assets, net	$	14,512		$	—

Amortization expense related to intangible assets for the or the years ended December 31, 2021 and 2020 was $3.8 million and nil, respectively. As of December 31, 2021 the weighted-average amortization period of intangible assets was 3.57 years.

The following table presents the estimated future amortization expense of acquired amortizable intangible assets as of December 31, 2021 (in thousands):


Fiscal Year	Amount
2022	$	4,394
2023		4,394
2024		3,558
2025		2,166
	$	14,512

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following (in thousands):


	December 31,
	2021		2020
Prepaid equipment	$	2,923	$	1,352
Prepaid software		4,494		1,076
Prepaid taxes		1,332		243
Prepaid insurance		8,031		156
Other		636		205
Total	$	17,416	$	3,032

Other Non-Current Assets

Other non-current assets consist of the following (in thousands):


	December 31,
	2021		2020
Contractual agreements asset	$	59,611	$	—
Long term prepaid insurance		10,511		—
Other non-current assets		199		262
Total	$	70,321	$	262