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PROPERTY, PLANT AND EQUIPMENT, NET | 6 Months Ended
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Jun. 30, 2024
Property, Plant and Equipment [Abstract] |
PROPERTY, PLANT AND EQUIPMENT, NET | 9. Property, plant and equipment, NET Property, plant and equipment, net, as of June 30, 2024 and December 31, 2023 consisted of the following:
|  | June 30, 2024 |  |  | December 31, 2023 |
Buildings and improvements |  | $ | 63,434 |  |  | $ | 59,730 |
Machinery, equipment, vehicles and office furniture |  |  | 93,617 |  |  |  | 82,973 |
Computer equipment, hardware and software |  |  | 13,961 |  |  |  | 11,624 |
Launch site assets |  |  | 14,477 |  |  |  | 14,193 |
Construction in process |  |  | 27,871 |  |  |  | 25,999 |
Property, plant and equipment—gross |  |  | 213,360 |  |  |  | 194,519 |
Less accumulated depreciation and amortization |  |  | (57,466 | ) |  |  | (49,110 | )
Property, plant and equipment—net |  | $ | 155,894 |  |  | $ | 145,409 |
Depreciation expense recorded in the condensed consolidated statements of operations and comprehensive loss during the three and six months ended June 30, 2024 and 2023 consisted of the following:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
Depreciation expense |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Cost of revenues |  | $ | 2,917 |  |  | $ | 1,938 |  |  | $ | 5,666 |  |  | $ | 4,290 |
Research and development |  |  | 1,040 |  |  |  | 1,026 |  |  |  | 2,432 |  |  |  | 1,844 |
Selling, general and administrative |  |  | 679 |  |  |  | 393 |  |  |  | 1,303 |  |  |  | 781 |
Total depreciation expense |  | $ | 4,636 |  |  | $ | 3,357 |  |  | $ | 9,401 |  |  | $ | 6,915 |

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-7 + Details
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