Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment, Net

v3.22.2.2
Property, Plant and Equipment, Net
 9 Months Ended
Sep. 30, 2022
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment, Net Property, Plant and Equipment, Net
Property, plant and equipment, net consists of the following as of September 30, 2022 and December 31, 2021:
  As of
  September 30,
2022		 December 31,
2021
(In thousands)
Leasehold improvements
 $ 23,882  $ 23,501 
Machinery and equipment
 62,632  59,358 
Aircraft
 8,000  8,000 
IT software and equipment
 24,828  22,397 
Construction in progress
 34,161  23,167 
  153,503  136,423 
Less: accumulated depreciation and amortization
 (83,663) (74,998)
Property, plant and equipment, net
 $ 69,840  $ 61,425 
Within IT software and equipment, the Company’s capitalized software totaled $1.4 million and $0.8 million, net of accumulated amortization of $7.9 million and $7.4 million, as of September 30, 2022 and December 31, 2021, respectively. No amortization expense is recorded until the software is ready for its intended use. For the three months ended September 30, 2022 and 2021, amortization expense related to capitalized software was $0.2 million and $0.1 million, respectively.

Depreciation expense recorded in the condensed consolidated statements of operations and comprehensive loss during the three and nine months ended September 30, 2022 and 2021 consisted of the following:
  Three Months Ended
September 30,		 Nine Months Ended
September 30,
  2022 2021 2022 2021
(In thousands)
Cost of revenue
 $ 1,194  $ —  $ 2,179  $ 556 
Research and development, net
 136  143  392  1,202 
Selling, general and administrative
 1,375  2,848  5,673  7,429 
Total depreciation expense
 $ 2,705  $ 2,991  $ 8,244  $ 9,187