Property and Equipment, Net

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Property and equipment, net consists of the following:


		December 31,
	Useful life	2025		2024
	(in years)
Production tooling	4	$	26,194	$	21,256
Lab equipment	4		17,446		14,484
Office equipment	3 - 7		12,758		10,162
Leasehold improvements	*		2,308		1,921
Construction in progress			15,010		7,597
Property and equipment, gross			73,716		55,420
Less: Accumulated depreciation			30,367		21,139
Property and equipment, net		$	43,349	$	34,281

* Leasehold improvements are amortized over the shorter of the remaining lease term or estimated useful life of the leasehold improvement.

The Company recognized depreciation expense of $8,380, $6,533, and $5,367 for the years ended December 31, 2025, 2024 and 2023, respectively. The Company recorded $376 and $116 of impairment charges related to certain property and equipment for the years ended December 31, 2025 and 2024 as part of its 2025 Restructuring Plan and 2024 Restructuring Plan, respectively.

Fixed assets not yet in service, or construction in progress, consist primarily of capitalized internal-use software and certain tooling and other equipment that are not yet ready to be placed into service.

indie Semiconductor, Inc. 10-K