Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, Net

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Property and Equipment, Net
 9 Months Ended
Sep. 30, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net Property and Equipment, Net
Property and equipment, net consisted of the following:
September 30,
2023		 December 31,
2022
Machinery and equipment $ 10,659  $ 10,450 
Computers and IT equipment 1,136  1,138 
Leasehold improvements 2,773  2,429 
Furniture and fixtures 106  81 
Vehicles 42  42 
Assets to be placed in service 189  11,749 
Property and equipment 14,905  25,889 
Less: Accumulated depreciation (8,917) (10,262)
Property and equipment, net $ 5,988  $ 15,627 
For the three months ended September 30, 2023 and 2022, depreciation expense totaled $335 and $285, respectively. For the nine months ended September 30, 2023 and 2022, depreciation expense totaled $929 and $721, respectively. Of these amounts, depreciation charged to cost of revenue was $273 and $249 for the three months ended September 30, 2023 and 2022, respectively and $789 and $616 for the nine months ended September 30, 2023 and 2022, respectively.
On March 26, 2021, the Company entered into a MOU with Desktop Metal, pursuant to which Desktop Metal agreed to invest $20.0 million in the PIPE Investment. Upon consummation of this investment, the Company became obligated to purchase $20.0 million of equipment, materials and services from Desktop Metal. In conjunction with these obligations, the Company and Desktop Metal agreed to develop a strategic partnership. In September 2023, the Company identified $11.5 million of equipment that would not be utilized in its operations and classified the assets as held for sale at the lower of the carrying value or fair value. The Company recognized $9.7 million of impairment charges on these assets during the three and nine months ended September 30, 2023. The Company also wrote off $3.2 million of prepaid services related to such equipment, which was included in selling, general and administrative expenses on the condensed consolidated statements of operations and comprehensive loss.