Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.21.2
Property and Equipment
9 Months Ended
Oct. 03, 2021
Property, Plant and Equipment [Abstract]  
Property and Equipment

Note 5. Property and Equipment

Property and equipment as of October 3, 2021 and December 31, 2020, consisted of the following (in thousands):

 

 

 

 

 

 

 

October 3, 2021

 

 

December 31, 2020

 

Process equipment

 

 

 

 

 

$

6,275

 

 

$

4,085

 

Office equipment

 

 

 

 

 

 

402

 

 

 

369

 

Furniture and fixtures

 

 

 

 

 

 

639

 

 

 

65

 

Leasehold improvements

 

 

 

 

 

 

1,878

 

 

 

921

 

Construction in progress

 

 

 

 

 

 

56,673

 

 

 

29,568

 

Total property and equipment

 

 

 

 

 

 

65,867

 

 

 

35,008

 

Less: Accumulated depreciation

 

 

 

 

 

 

(4,271

)

 

 

(3,718

)

Property and equipment, net

 

 

 

 

 

$

61,596

 

 

$

31,290

 

The Company capitalizes certain internal and external costs associated with the development of the first high volume production line ("Fab-1") in property and equipment, net. For the quarter ended and 39-week period ended October 3, 2021, the Company capitalized $1.0 million and $2.0 million of the development costs as property and equipment, net, respectively.

Depreciation expenses related to the property and equipment were as follows (in thousands):

 

 

 

Quarter Ended October 3, 2021

 

 

Three Months Ended
September 30, 2020

 

 

39-Week Period Ended October 3, 2021

 

 

Nine Months Ended September 30, 2020

 

Depreciation expense

 

$

299

 

 

$

147

 

 

$

674

 

 

$

436