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v3.23.2

Property and Equipment, Net | 6 Months Ended
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Jun. 30, 2023
Property, Plant and Equipment [Abstract] |
Property and Equipment, Net | Property and Equipment, Net Property and equipment, net consisted of the following (in thousands):
| June 30, 2023 |  | December 31, 2022
Computers and telecom equipment | $ | 1,001 |  |  | $ | 599 |
Lab equipment | 951 |  |  | 871 |
Furniture and fixtures | 111 |  |  | 111 |
Leasehold improvements | 542 |  |  | 542 |
Leased equipment | 57,143 |  |  | 35,983 |
Capitalized software | 6,002 |  |  | 4,150 |
Sales demo equipment | 2,689 |  |  | 2,340 |
Equipment held for lease 1 | 24,183 |  |  | 7,826 |
Construction in progress | 156 |  |  | 71 |
| 92,778 |  |  | 52,493 |
Less: Accumulated depreciation and amortization | (11,693) |  |  | (7,786) |
| $ | 81,085 |  |  | $ | 44,707 |
1 Represents equipment that has not yet been deployed to a customer and, accordingly, is not being depreciated. As of June 30, 2023 and December 31, 2022, the net book value of capitalized software was $4.9 million and $3.5 million, respectively. These amounts include $0.4 million and $0.2 million of capitalized stock compensation costs, respectively. Depreciation and amortization expense related to property and equipment was $2.3 million and $1.3 million for the three months ended June 30, 2023 and 2022, and $4.1 million and $2.4 million for the six months ended June 30, 2023 and 2022, respectively. Leased equipment and the related accumulated depreciation were as follows:
| June 30, 2023 |  | December 31, 2022
Leased equipment | $ | 57,143 |  |  | $ | 35,983 |
Accumulated depreciation | (8,805) |  |  | (5,802) |
Leased equipment, net | $ | 48,338 |  |  | $ | 30,181 |
Depreciation expense related to leased units was $1.8 million and $1.0 million during the three months ended June 30, 2023 and 2022, and $3.2 million and $1.9 million for the six months ended June 30, 2023 and 2022, respectively. Depreciable lives are generally 7 years, consistent with the Company’s planned and historical usage of the equipment subject to operating leases.

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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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