Property and Equipment, Net

9 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

Property and Equipment, Net

Property and equipment, net consists of the following:

	Useful life (in years)	September 30, 2023		December 31, 2022
Production tooling	4	$	15,177	$	10,851
Lab equipment	4	10,607		6,382
Office equipment	3 - 7	6,120		4,736
Leasehold improvements	*	1,824		1,216
Construction in progress		5,120		1,763
Property and equipment, gross		38,848		24,948
Less: Accumulated depreciation		12,935		9,119
Property and equipment, net		$	25,913	$	15,829

*Leasehold improvements are amortized over the shorter of the remaining lease term or estimated useful life of the leasehold improvement.

The Company recognized depreciation expense of $1,271 and $753 for the three months ended September 30, 2023 and 2022, respectively. The Company recognized depreciation expense of $3,774 and $2,311 for the nine months ended September 30, 2023 and 2022, respectively.

Fixed assets not yet in service consist primarily of capitalized internal-use software and certain tooling and other equipment that have not been placed into service.