Annual report pursuant to Section 13 and 15(d)

PROPERTY AND EQUIPMENT, NET (Tables)

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PROPERTY AND EQUIPMENT, NET (Tables)
12 Months Ended
Dec. 31, 2023
PROPERTY AND EQUIPMENT, NET  
Schedule of Property and equipment, net

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

    

Useful Life

    

    

 In Years

December 31, 2023

December 31, 2022

Tooling and equipment

 

7 - 15

$

16,024

$

14,649

Furniture and other equipment

 

5

 

12,076

 

10,090

Computer software

 

5

 

2,374

 

2,152

Leasehold improvements

 

3 - 10

 

16,269

 

7,390

Equipment under capital lease

 

5

 

192

 

192

Flight equipment held for R&D

2

7,784

-

 

54,719

 

34,473

Less accumulated depreciation

 

(27,027)

 

(21,835)

$

27,692

$

12,638

Schedule of depreciation expense on property, plant and equipment

Depreciation expense, which includes amortization of equipment under capital lease, was as follows (in thousands):

Year Ended December 31, 

2023

2022

2021

Depreciation expense

$

3,736

$

2,242

$

1,997