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v3.25.4

Property and Equipment | 12 Months Ended
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Dec. 31, 2025
Property, Plant and Equipment [Abstract] |
Property and Equipment | 4. Property and Equipment Property and equipment, net consisted of the following (in thousands):
|  | As of December 31, |
|  | 2025 |  |  | 2024 |
Land |  | $ | 1,925 |  |  | $ | 1,350 |
Buildings and building improvements |  |  | 29,030 |  |  |  | 16,012 |
Leasehold improvements |  |  | 15,241 |  |  |  | 9,439 |
Satellites in orbit |  |  | 235,387 |  |  |  | 235,340 |
Lab, assembly, and integration equipment |  |  | 95,334 |  |  |  | 41,693 |
Satellite antenna |  |  | 7,224 |  |  |  | 7,224 |
Computer hardware and software |  |  | 25,131 |  |  |  | 18,244 |
Other |  |  | 1,999 |  |  |  | 1,421 |
Construction in progress |  |  |  |  |  |
Satellite materials and advance payments, satellites under construction, and advance launch payments |  |  | 1,122,027 |  |  |  | 120,984 |
Other construction in progress and capital advances |  |  | 39,176 |  |  |  | 8,328 |
Total property and equipment, gross |  | $ | 1,572,472 |  |  | $ | 460,035 |
Accumulated depreciation and amortization |  |  | (173,711 | ) |  |  | (122,366 | )
Total property and equipment, net |  | $ | 1,398,761 |  |  | $ | 337,669 |
Total d epreciation and amortization expense for the years ended December 31, 2025, 2024 and 2023 was approximately $51.1 million, $63.3 million, and $54.5 million, respectively. During the years ended December 31, 2025, 2024 and 2023, the Company recognized losses on disposal of property and equipment of $4.6 million, $2.2 million and $0.1 million, respectively. These losses primarily relate to equipment retired from service and satellite materials removed from construction in progress as a result of design modifications and advances in manufacturing processes and technolog y.

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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/1943274/2147477798/958-360-50-6 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/1943274/2147477798/958-360-50-1 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/1943274/2147477798/958-360-50-7 + Details
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