Property And Equipment, Net

3 Months Ended

Mar. 31, 2025

Property, Plant and Equipment [Abstract]

Property And Equipment, Net

. PROPERTY AND EQUIPMENT, NET

Property and equipment, net is composed of the following (in thousands):

	March 31,			December 31,
	2025			2024
Quantum computing systems	$	39,153		$	38,374
Leasehold improvements		18,003			17,921
Machinery, equipment, furniture and fixtures		19,420			16,683
Computer equipment and acquired computer software		7,096			7,395
Gross property and equipment		83,672			80,373
Less: accumulated depreciation		(32,028	)		(27,612	)
Total property and equipment, net	$	51,644		$	52,761

Depreciation expense for the three months ended March 31, 2025 and 2024, was $4.4 million and $2.7 million, respectively.