Property and Equipment, Net

3 Months Ended

Mar. 31, 2024

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)	March 31, 2024		December 31, 2023
Production tooling	4	$	17,217	$	16,428
Lab equipment	4	13,453		12,887
Office equipment	3 - 7	8,493		6,539
Leasehold improvements	*	1,912		1,898
Construction in progress		4,395		3,867
Property and equipment, gross		45,470		41,619
Less: Accumulated depreciation		16,071		14,653
Property and equipment, net		$	29,399	$	26,966

*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 $1,485 and $955 for the three months ended March 31, 2024 and 2023, 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.