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Property and Equipment, Net
 3 Months Ended
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 software2,700 2,864 
Furniture and fixtures1,707 1,666 
Machinery and equipment3,365 2,772 
Construction in progress14,688 13,795 
Property and equipment, gross22,589 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.