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Property And Equipment, Net
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Property And Equipment, Net

6. PROPERTY AND EQUIPMENT, NET

Property and equipment, net is composed of the following (in thousands):

 

 

December 31,

 

 

December 31,

 

 

2024

 

 

2023

 

Quantum computing systems

 

$

38,374

 

 

$

28,296

 

Leasehold improvements

 

 

17,921

 

 

 

10,043

 

Machinery, equipment, furniture and fixtures

 

 

16,683

 

 

 

9,238

 

Computer equipment and acquired computer software

 

 

7,395

 

 

 

4,537

 

Gross property and equipment

 

 

80,373

 

 

 

52,114

 

Less: accumulated depreciation

 

 

(27,612

)

 

 

(14,599

)

Total property and equipment, net

 

$

52,761

 

 

$

37,515

 

 

Depreciation expense for the years ended December 31, 2024, 2023 and 2022, was $13.0 million, $7.2 million and $4.0 million, respectively.