XML 22 R11.htm IDEA: XBRL DOCUMENT v3.25.3
Deposits (current and non-current) and Other Current Assets
 9 Months Ended
Sep. 30, 2025
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Deposits (current and non-current) and Other Current Assets Deposits (current and non-current) and Other Current Assets
Deposits and other current assets consist of the following as of:
(in thousands)September 30, 2025December 31, 2024
Deposits
Deposits for research and development, prototype and production parts, and other$18,519 $29,318 
Deposits for goods and services yet to be received (“Future Work”)1,676 1,776 
$20,195 $31,094 
Deposits, current portion$7,784 $31,094 
Deposits, non-current portion (1)
$12,411 $— 
Other current assetsSeptember 30, 2025December 31, 2024
Prepaid expenses$10,921 $4,832 
Other current assets1,476 1,295 
$12,397 $6,127 
1) Non-current deposits presented as part of Other non-current assets in the Unaudited Condensed Consolidated Balance Sheets
Deposits for R&D, prototype and production parts, and other related items are recognized and reported as R&D expenses in the Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss when services are provided or as prototype parts are received. The Company makes deposits for inventory and property and equipment items which are classified
as Deposits for goods and services yet to be received (“Future Work”). Prepaid expenses primarily consist of software subscriptions and insurance, and Other current assets includes certain deferred expenses.
Prepaid expenses primarily consist of software subscriptions and insurance, and Other current assets includes certain deferred expenses.
The Company recorded an impairment charge of $8.5 million and $8.5 million for the three and nine months ended September 30, 2025, respectively. The impairment loss is included within Asset impairment on the Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss.
As of September 30, 2025, $12.4 million of deposits were classified as non-current, relating primarily to production parts not expected to be received within twelve months.