December 31,

 

 

2025

 

 

2024

Construction in process ("CIP")

$

8,013

 

$

241

Tooling

 

5,010

 

 

-

eVTOL Mockups

 

2,131

 

 

516

Machinery and equipment

 

594

 

 

-

Leasehold improvement

 

224

 

 

167

Computer hardware

 

39

 

 

15

Total property, plant and equipment

$

16,010

 

$

939

Less: Accumulated depreciation

 

(688)

 

 

(328)

Total property, plant and equipment, net

$

15,322

 

$

611

Historical Timeline

Fiscal YearFiled
2025Mar 16, 2026Showing above
2024Mar 11, 2025
2023Mar 8, 2024
2022Mar 23, 2023

About PP&E Disclosures

The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.

Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.