Annual report pursuant to Section 13 and 15(d)

Balance Sheet Components

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Balance Sheet Components
 12 Months Ended
Dec. 31, 2023
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,
2023 2022
Equipment $ 84,639  $ 63,656 
Buildings 21,384  21,384 
Leasehold improvements 18,771  14,319 
Computer software 15,114  10,920 
Molds and tooling 16,306  10,298 
Land 6,270  6,270 
Vehicles and aircraft 1,617  1,582 
Furniture and fixtures 640  682 
Construction in-progress 6,055  6,094 
Gross property and equipment 170,796  135,205 
Accumulated depreciation and amortization (67,366) (43,102)
Property and equipment, net $ 103,430  $ 92,103 
Depreciation and amortization expense of property and equipment for the years ended December 31, 2023 and 2022 was $24.4 million and $18.4 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,
2023 2022
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  5,328 
Gross intangible assets 22,028  22,028 
Accumulated amortization (15,443) (9,447)
Intangible assets, net $ 6,585  $ 12,581 
Amortization expense related to intangible assets for the years ended December 31, 2023 and 2022 was $6.1 million and $5.6 million, respectively. As of December 31, 2023 the weighted-average amortization period of intangible assets was 1.53 years.
The following table presents the estimated future amortization expense of acquired amortizable intangible assets as of December 31, 2023 (in thousands):
Fiscal Year December 31, 2023
2024 $ 4,431 
2025 2,154 
$ 6,585 
Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consist of the following (in thousands):
December 31,
2023 2022
Prepaid equipment $ 3,471  $ 4,525 
Prepaid software 3,809  5,522 
Prepaid taxes 1,603  1,273 
Prepaid insurance 6,192  7,702 
Other 3,767  1,138 
Total $ 18,842  $ 20,160 
Other non-current assets
Other non-current assets consist of the following (in thousands):
December 31,
2023 2022
Contractual agreement asset $ 59,611  $ 59,611 
Long-term prepaid insurance 413  3,770 
Other non-current assets 586  819 
Total $ 60,610  $ 64,200 
Accrued and other current liabilities
Accrued and other current liabilities consist of the following (in thousands):
December 31,
2023 2022
Vendor related accruals $ 11,391  $ 7,508 
Payroll accruals including performance related stock based compensation 16,265  5,992 
Contract liabilities under contracts with customers 2,534  — 
Deferred research and development credits 3,633  — 
Acquisition-related obligation accrual —  2,167 
Other accruals and current liabilities 3,995  3,116 
Total $ 37,818  $ 18,783