Property and Equipment, Net

9 Months Ended

Sep. 30, 2025

Property and Equipment, Net [Abstract]

Note 7. Property and Equipment, net

The Company’s property and equipment are primarily located at the Company’s leased facilities in Hoboken, NJ and Tempe, AZ and consist of (in thousands):

	September 30, 2025			December 31, 2024
Computer and lab equipment	$	12,123		$	8,438
Network equipment		32			29
Furniture and fixtures		98			37
Software		276			77
Leasehold improvements		2,171			597
Total cost of property and equipment		14,700			9,178
Accumulated depreciation		(2,025	)		(966	)
Property and equipment, net	$	12,675		$	8,212

The Company recorded depreciation expense of $671 thousand and $75 thousand during the three months ended September 30, 2025 and 2024, respectively, and $1.1 million and $214 thousand during the nine months ended September 30, 2025 and 2024, respectively, using useful lives of the Company’s long-lived assets as follows:

		Estimated Useful
		Life (Years)
Computer and lab equipment		5
Network equipment		4
Furniture and fixtures		7
Software		3
Leasehold improvements		Lesser of lease term or 5

Maintenance and repairs are charged to operations when incurred. When property and equipment are sold or otherwise disposed, the asset account and related accumulated depreciation and amortization accounts are relieved, and any gain or loss is included in other income or expense. There were no significant gains or losses in the three and nine months ended September 30, 2025 or 2024.

Quantum Computing Inc. 10-Q