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Property and Equipment, Net
 9 Months Ended
Sep. 30, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net

4. Property and Equipment, Net

Property and equipment, net consisted of the following as of September 30, 2025 and December 31, 2024:

 

 

 

September 30, 2025

 

 

December 31, 2024

 

Machinery and equipment

 

$

46,865

 

 

$

42,040

 

Test stands

 

 

39,914

 

 

 

37,209

 

Buildings

 

 

48,999

 

 

 

48,830

 

Land and land improvements

 

 

4,472

 

 

 

3,505

 

Construction in progress

 

 

23,159

 

 

 

17,551

 

Furniture and fixtures

 

 

1,262

 

 

 

1,200

 

Computer equipment

 

 

2,900

 

 

 

2,156

 

Software

 

 

1,142

 

 

 

1,122

 

Vehicles

 

 

430

 

 

 

421

 

Leasehold improvements

 

 

9,881

 

 

 

7,283

 

Total

 

$

179,024

 

 

$

161,317

 

Less: Accumulated depreciation

 

 

(36,469

)

 

 

(25,742

)

Property and equipment, net

 

$

142,555

 

 

$

135,575

 

 

Depreciation expense was $4.6 million and $3.5 million for the three months ended September 30, 2025 and 2024, respectively, and $12.5 million and $6.5 million for the nine months ended September 30, 2025 and 2024, respectively, and was recorded in the unaudited condensed consolidated statements of net loss within cost of sales, research and development, and selling, general, and administrative expenses.