Annual report pursuant to Section 13 and 15(d)

Property, Plant and Equipment, Net

v3.23.1
Property, Plant and Equipment, Net
 12 Months Ended
Dec. 31, 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 December 31, 2022 and December 31, 2021:
  As of
  December 31,
2022		 December 31,
2021
(In thousands)
Leasehold improvements
 $ 25,078  $ 23,501 
Machinery and equipment
 81,071  59,358 
Aircraft
 8,000  8,000 
IT software and equipment
 24,833  22,397 
Construction in progress
 18,695  23,167 
  157,677  136,423 
Less: accumulated depreciation and amortization
 (86,346) (74,998)
Property, plant and equipment, net
 $ 71,331  $ 61,425 
Within IT software and equipment, the Company’s capitalized software totaled $1.2 million and $0.8 million, net of accumulated amortization of $8.0 million and $7.4 million, as of December 31, 2022 and December 31, 2021, respectively. No amortization expense is recorded until the software is ready for its intended use.
Depreciation expense recorded in the consolidated statements of operations and comprehensive loss during the years ended December 31, 2022, 2021 and 2020 consisted of the following:
  Years Ended December 31,
  2022 2021 2020
(In thousands)
Cost of revenue
 $ 3,229  $ 556  $ — 
Research and development, net
 519  1,348  9,333 
Selling, general and administrative
 7,562  10,385  2,855 
Total depreciation expense
 $ 11,310  $ 12,289  $ 12,188