Property And Equipment—net

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property And Equipment—net

9. Property and Equipment - net

The following summarizes property and equipment - net as of:

	December 31,		December 31,
	2022		2021
	(in thousands)
Satellites	$	116,219	$	93,709
Software	8,503		—
Software development in process	2,942		—
Computer equipment	1,996		1,372
Office furniture and fixtures	674		744
Other equipment	631		682
Site equipment	2,558		1,504
Total	133,523		98,011
Less: accumulated depreciation	(61,939)		(27,460)
Property and equipment — net	$	71,584	$	70,551

Depreciation of property and equipment from continuing operations was $35.1 million and $12.9 million for the years ended December 31, 2022 and 2021, respectively.

The Company disposed of property and equipment, which consisted of site equipment, furniture and ground station equipment of $0.6 million and $2.9 million, during the years ended December 31, 2022 and 2021, respectively, for a loss of $0 and $24 thousand for the years ended December 31, 2022 and 2021, respectively.

On May 15, 2021, a rocket carrying two of the Company's satellites suffered a failure during flight, resulting in the loss of both satellites. This resulted in the total carrying value of $18.4 million being impaired in the second quarter of 2021. The $18.4 million includes satellite procurement, launch, shipping, launch support and other associated costs. There was no impairment for the year ended December 31, 2022.