General form of registration statement for all companies including face-amount certificate companies

PROPERTY AND EQUIPMENT

v3.20.4
PROPERTY AND EQUIPMENT
9 Months Ended 12 Months Ended
Sep. 30, 2020
Dec. 31, 2019
PROPERTY AND EQUIPMENT    
PROPERTY AND EQUIPMENT

3. Property and Equipment

Depreciation is expensed using the straight‑line method over the estimated useful lives of the assets as follows:

 

 

 

 

Asset Classification

    

Useful Life

Equipment

 

3‑5 years

Furniture and fixtures

 

3 years

Computer equipment

 

3 years

Tooling

 

3 years

Software

 

3 years

Leasehold improvements

 

Shorter of asset’s useful life or remaining life of the lease

 

Property and equipment—net consisted of the following at September 30, 2020 and December 31, 2019 (in thousands):

 

 

 

 

 

 

 

 

 

 

    

 

 

 

 

 

 

 

    

September 30, 2020

    

December 31, 2019

    

Equipment

 

$

13,502

 

$

13,358

 

Furniture and fixtures

 

 

895

 

 

895

 

Computer equipment

 

 

1,089

 

 

1,089

 

Tooling

 

 

1,823

 

 

1,823

 

Software

 

 

1,235

 

 

954

 

Leasehold improvements

 

 

13,870

 

 

13,880

 

Construction in process

 

 

845

 

 

170

 

Property and equipment—gross

 

 

33,259

 

 

32,169

 

Less: accumulated depreciation

 

 

(19,658)

 

 

(13,782)

 

Property and equipment—net

 

$

13,601

 

$

18,387

 

 

Depreciation and amortization expense was $5.9 million and $5.3 million for the nine months ended September 30, 2020 and September 30, 2019 respectively.

3. PROPERTY AND EQUIPMENT

Depreciation is expensed using the straight‑line method over the estimated useful lives of the assets as follows:

 

 

 

 

Asset Classification

    

Useful Life

Equipment

 

3‑5 years

Furniture and fixtures

 

3 years

Computer equipment

 

3 Years

Tooling

 

3 Years

Software

 

3 Years

Leasehold improvements

 

Shorter of asset’s useful life or remaining life of the lease

 

Property and equipment—net consisted of the following at December 31, 2019 and 2018 (in thousands):

 

 

 

 

 

 

 

 

 

 

Years Ended December 31, 

 

    

2019

    

2018

Equipment

 

$

13,358

 

$

8,306

Furniture and fixtures

 

 

895

 

 

875

Computer equipment

 

 

1,089

 

 

1,045

Tooling

 

 

1,823

 

 

1,303

Software

 

 

954

 

 

302

Leasehold improvements

 

 

13,880

 

 

13,357

Construction in process

 

 

170

 

 

 —

Property and equipment—gross

 

 

32,169

 

 

25,188

Less: accumulated depreciation

 

 

(13,782)

 

 

(6,191)

Property and equipment—net

 

$

18,387

 

$

18,997

 

Depreciation and amortization expense was $7.6 million and $4.1 million for the  years ended December 31, 2019 and 2018, respectively.