Annual report pursuant to Section 13 and 15(d)

Property And Equipment???net

v3.23.1
Property And Equipment—net
 12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
Property And Equipment—net
9. Property and Equipment - net
The following summarizes property and equipment - net as of:
December 31, December 31,
2022 2021
(in thousands)
Satellites $ 116,219  $ 93,709 
Software 8,503 —
Software development in process 2,942 —
Computer equipment 1,996 1,372
Office furniture and fixtures 674 744
Other equipment 631 682
Site equipment 2,558 1,504
Total 133,523 98,011
Less: accumulated depreciation (61,939) (27,460)
Property and equipment — net $ 71,584  $ 70,551 
Depreciation of property and equipment from continuing operations was $35.1 million and $12.9 million for the years ended December 31, 2022 and 2021, respectively.
The Company disposed of property and equipment, which consisted of site equipment, furniture and ground station equipment of $0.6 million and $2.9 million, during the years ended December 31, 2022 and 2021, respectively, for a loss of $0 and $24 thousand for the years ended December 31, 2022 and 2021, respectively.
On May 15, 2021, a rocket carrying two of the Company's satellites suffered a failure during flight, resulting in the loss of both satellites. This resulted in the total carrying value of $18.4 million being impaired in the second quarter of 2021. The $18.4 million includes satellite procurement, launch, shipping, launch support and other associated costs. There was no impairment for the year ended December 31, 2022.