Annual report pursuant to Section 13 and 15(d)

Balance Sheet Components

v3.22.4
Balance Sheet Components
 12 Months Ended
Dec. 31, 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):
December 31,
2022 2021
Equipment $ 63,656  $ 45,501 
Buildings 21,384  — 
Leasehold improvements 14,319  9,364 
Computer software 10,920  8,410 
Molds and tooling 10,298  8,052 
Land 6,270  $ — 
Vehicles and aircraft 1,582  1,198 
Furniture and fixtures 682  319 
Construction in-progress 6,094  6,394 
Gross property and equipment 135,205  79,238 
Accumulated depreciation and amortization (43,102) (26,083)
Property and equipment, net $ 92,103  $ 53,155 
On November 30, 2022, the Company purchased certain real property, improvements and other assets for $25.5 million (Note 5).
Depreciation and amortization expense of property and equipment for the years ended December 31, 2022 and 2021 was $18.4 million and $12.1 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,
2022 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 (9,447) (3,843)
Intangible assets, net $ 12,581  $ 14,512 
Amortization expense related to intangible assets for the years ended December 31, 2022 and 2021 was $5.6 million and $3.8 million, respectively. As of December 31, 2022 the weighted-average amortization period of intangible assets was 2.32 years.
The following table presents the estimated future amortization expense of acquired amortizable intangible assets as of December 31, 2022 (in thousands):
Fiscal Year December 31, 2022
2023 $ 6,033 
2024 4,382 
2025 2,166 
$ 12,581 
Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consist of the following (in thousands):
December 31,
2022 2021
Prepaid equipment $ 4,525  $ 2,923 
Prepaid software 5,522  4,494 
Prepaid taxes 1,273  1,332 
Prepaid insurance 7,702  8,031 
Other 1,138  636 
Total $ 20,160  $ 17,416 
Other Non-Current Assets
Other non-current assets consist of the following (in thousands):
December 31,
2022 2021
Contractual agreements asset $ 59,611  $ 59,611 
Long-term prepaid insurance 3,770  10,511 
Other non-current assets 819  199 
Total $ 64,200  $ 70,321 
Accrued and other current liabilities
Accrued and other current liabilities consist of the following (in thousands):
December 31,
2022 2021
Vendor related accruals $ 7,508  $ 4,220 
Payroll accruals 5,992  4,026 
Acquisition-related obligation accrual 2,167  — 
Other accruals and current liabilities 3,116  1,965 
Total $ 18,783  $ 10,211