Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.23.3
Property and Equipment
9 Months Ended
Sep. 30, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment as of September 30, 2023 and December 31, 2022 are as follows:

September 30, 2023 December 31, 2022
Machinery and equipment $ 2,559 $ 2,945
Vehicles 1,335 3,634
Mobile vehicle chargers 627
Leasehold improvements 1,637 3,660
Computer equipment 397 688
Software 32 11
Furniture and fixtures 571 969
Capital projects in progress 760 2,317
Total 7,918 14,224
Accumulated depreciation and amortization —  (2,705)
Total property and equipment, net $ 7,918 $ 11,519
For the three months ended September 30, 2023, the Company determined a triggering event occurred that required the Company to evaluate the Company’s long-lived assets for impairment. The triggering event was the receipt of the Notice from the NYSE on September 18, 2023 indicating that the staff determined to suspend trading immediately and commence proceedings to delist the shares of common stock and the redeemable warrants of the Company from the NYSE. The Company evaluated the Company’s long-lived assets for impairment and as a result, the Company recorded a loss on the impairment of property and equipment of $4,878 for the three and nine months ended September 30, 2023, which is included in “Cost of revenues” on the consolidated statements of operations.

The cost of property and equipment, in the table above, as of September 30, 2023 are stated at fair value after taking into effect the impairment of $4,878.

Depreciation and amortization expense associated with property and equipment is as follows for the periods indicated:

Three Months Ended September 30, Nine Months Ended September 30,
2023 2022 2023 2022
Cost of revenues $ 231 $ 127 $ 620 $ 337
Research and development 73 17 104 125
Selling, general and administrative 435 328 1,147 754
Total depreciation and amortization expense $ 739 $ 472 $ 1,871 $ 1,216