Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.22.2.2
Summary of Significant Accounting Policies (Tables)
9 Months Ended
Oct. 02, 2022
Accounting Policies [Abstract]  
Summary of Property and Equipment Are Depreciated or Amortized Using the Straight-line Method Over the Estimated Useful Lives
Property and equipment are depreciated or amortized using the straight-line method over the estimated useful lives of the following assets below.
Estimated Useful Life (in Years)
Machinery and equipment 2 - 10
Office equipment and software 3 - 5
Furniture and fixtures 3 - 5
Leasehold improvements Shorter of the economic life or the remaining lease term
Property and equipment as of October 2, 2022 and January 2, 2022, consisted of the following (in thousands):
October 2,
2022
January 2,
2022
Machinery and equipment $ 47,884  $ 6,636 
Office equipment and software 1,236  918 
Furniture and fixtures 721  639 
Leasehold improvements 23,297  1,878 
Construction in process 39,832  71,133 
Total property and equipment 112,970  81,204 
Less: accumulated depreciation (8,979) (4,591)
Property and equipment, net $ 103,991  $ 76,613 
The following table summarizes the depreciation and amortization expenses related to property and equipment, which are recorded within cost of revenue, research and development expense and selling, general and administrative expense in the Condensed Consolidated Statements of Operations (in thousands).
Quarters Ended Fiscal Years-to-Date Ended
October 2, 2022 October 3, 2021 October 2, 2022 October 3, 2021
Depreciation expense $ 2,857  $ 299  $ 4,388  $ 674