Supplemental Financial Information

6 Months Ended

Jun. 30, 2022

Supplemental Financial Information Abstract

Note 4 — Supplemental Financial Information

Inventories


in thousands	As of June 30, 2022		As of December 31, 2021
Raw materials	$	—	$	5,775
Work in progress		3,155		941
Finished goods		—		959
Inventories	$	3,155	$	7,675

There were $13.3 million and $18.8 million of inventory write downs recorded within cost of revenues during the three and six months ended June 30, 2022, respectively, of which $10.2 million of inventory write-downs related to the discontinuance of production of the current version of its launch vehicle as the Company focuses on developing the new version of its launch system. There were no inventory write downs recorded during the three and six months ended June 30, 2021.

Property, Plant and Equipment, net

Presented in the table below are the major classes of property, plant and equipment:


in thousands	As of June 30, 2022			As of December 31, 2021
Construction in progress	$	6,809		$	39,246
Computer and software		6,539			3,092
Leasehold improvements		56,444			14,177
Research equipment		11,731			8,935
Production equipment		21,708			10,442
Furniture and fixtures		1,573			1,001
Total property, plant and equipment		104,804			76,893
Less: accumulated depreciation		(16,581	)		(10,577	)
Property, plant and equipment, net	$	88,223		$	66,316

Depreciation expense amounted to $4.0 million and $1.0 million for the three months ended June 30, 2022 and 2021, respectively. Depreciation expense amounted to $6.0 million and $1.9 million for the six months ended June 30, 2022 and 2021, respectively. No impairment charges were recorded for the three and six months ended June 30, 2022 and 2021.

Accrued Expenses and Other Current Liabilities


in thousands	As of June 30, 2022		As of December 31, 2021
Employee compensation and benefits	$	9,102	$	9,927
Contract liabilities, current portion		6,196		10,162
Fair value of contingent consideration, current portion		19,800		—
Construction in progress related accruals		577		3,726
Accrued expenses		6,745		3,464
Other (miscellaneous)		2,762		2,620
Accrued expenses and other current liabilities	$	45,182	$	29,899

Other Non-Current Liabilities


in thousands	As of June 30, 2022		As of December 31, 2021
Fair value of contingent consideration, net of current portion	$	11,200	$	13,700
Contract liabilities, net of current portion		6,541		149
Other (miscellaneous)		1,016		750
Other non-current liabilities	$	18,757	$	14,599