Quarterly report pursuant to Section 13 or 15(d)

Balance Sheet Components

v3.22.2.2
Balance Sheet Components
 9 Months Ended
Sep. 30, 2022
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):
September 30,
2022		 December 31,
2021
Equipment $ 58,613  $ 45,501 
Computer software 10,088  8,410 
Leasehold improvements 11,650  9,364 
Molds and tooling 9,818  8,052 
Vehicles and aircraft 1,582  1,198 
Buildings 4,504  — 
Furniture and fixtures 376  319 
Construction in-progress 4,599  6,394 
Gross property and equipment 101,230  79,238 
Accumulated depreciation and amortization (38,276) (26,083)
Property and equipment, net $ 62,954  $ 53,155 
Depreciation and amortization expense of property and equipment for the three and nine months ended September 30, 2022 was $4.8 million and $13.4 million, respectively and $3.2 million and $8.6 million for the three and nine months ended September 30, 2021, 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):
September 30,
2022		 December 31,
2021
Automation platform software $ 7,200  $ 7,200 
Multimodal software technology 4,900  4,900 
System simulation software technology 4,600  4,600 
Other intangibles 5,328  1,655 
Gross intangible assets 22,028  18,355 
Accumulated amortization (7,830) (3,843)
Intangible assets, net $ 14,198  $ 14,512 
Amortization expense related to intangible assets for the three and nine months ended September 30, 2022 was $1.5 million and $4.0 million, respectively and $1.0 million and $2.9 million for the three and nine months ended September 30, 2021, respectively. As of September 30, 2022 the weighted-average amortization period of intangible assets was 2.53 years.
The following table presents the estimated future amortization expense of acquired amortizable intangible assets as of September 30, 2022 (in thousands):
Fiscal Year Amount
2022 (remainder)
 $ 1,535 
2023 6,107 
2024 4,370 
2025 2,186 
$ 14,198 
Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consist of the following (in thousands):
September 30,
2022		 December 31,
2021
Prepaid equipment $ 5,211  $ 2,923 
Prepaid software 3,042  4,494 
Prepaid taxes 2,142  1,332 
Prepaid insurance 8,479  8,031 
Other 1,360  636 
Total $ 20,234  $ 17,416 
Other non-current assets
Other non-current assets consist of the following (in thousands):
September 30,
2022		 December 31,
2021
Contractual agreement asset $ 59,611  $ 59,611 
Long term prepaid insurance 5,181  10,511 
Other non-current assets 570  199 
Total $ 65,362  $ 70,321 
Accrued and other current liabilities
Accrued and other current liabilities consist of the following (in thousands):
September 30,
2022		 December 31,
2021
2022 Bonus Plan accrual (Note 9) $ 9,274  $ — 
Vendor related accruals 6,551  4,220 
Payroll accruals 2,495  4,026 
Acquisition-related obligation accrual 2,167  — 
Other accruals and current liabilities 4,013  1,965 
Total $ 24,500  $ 10,211