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Property and Equipment, Net | 3 Months Ended
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Mar. 31, 2024
Property, Plant and Equipment [Abstract] |
Property and Equipment, Net | NOTE 4 - PROPERTY AND EQUIPMENT, NET As of March 31, 2024 and December 31, 2023, property and equipment, net consisted of the following (in thousands):
| March 31, 2024 |  | December 31, 2023
Vehicles and trailers | $ | 129 |  |  | $ | 129 |
Computers and software | 2,700 |  |  | 2,864 |
Furniture and fixtures | 1,707 |  |  | 1,666 |
Machinery and equipment | 3,365 |  |  | 2,772 |
Construction in progress | 14,688 |  |  | 13,795 |
Property and equipment, gross | 22,589 |  |  | 21,226 |
Less: accumulated depreciation and amortization | (3,066) |  |  | (2,877) |
Property and equipment, net | $ | 19,523 |  |  | $ | 18,349 |
Total depreciation expense related to property and equipment was $414 thousand and $296 thousand for the three months ended March 31, 2024 and 2023, respectively. As of March 31, 2024 and December 31, 2023, the Company pledged property and equipment with net book value of approximately $19.5 million and $18.3 million, respectively, as security for its Credit Mobilization Facility (as defined in Note 5) with Live Oak Banking Company. As of March 31, 2024, construction in progress includes construction costs of $14.7 million associated with the fabrication of a commercial communications satellite. The Company capitalized interest in connection with construction in progress of $213 thousand and $173 thousand for the three months ended March 31, 2024 and 2023, respectively.

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