Evolv Technologies Holdings, Inc. General form of registration statement for all companies including face-amount certificate companies

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

Property and Equipment, Net

Property and Equipment, Net

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

Evolv Technologies Holdings Inc [Member]

Property and Equipment, Net

6. Property and Equipment, Net

Property and equipment, net consisted of the following (in thousands):


	March 31,		December 31,
	2021		2020
Computers and telecom equipment	$	217	$	217
Lab equipment		494		487
Software		59		59
Furniture and fixtures		37		37
Leasehold improvements		95		95
Leased equipment		13,463		10,948
		14,365		11,843
Less: Accumulated depreciation and amortization		(2,979)		(2,527)
	$	11,386	$	9,316

Depreciation and amortization expense related to property and equipment was $0.5 million and $0.2 million for the three months ended March 31, 2021 and 2020, respectively.

Leased equipment and the related accumulated depreciation were as follows:


	March 31,		December 31,
	2021		2020
Leased equipment	$	13,463	$	10,948
Accumulated depreciation		(2,095)		(1,649)
Leased equipment, net	$	11,368	$	9,299

Depreciation related to leased units was $0.4 million and $0.1 million during the three months ended March 31, 2021 and 2020. Depreciable lives are generally 7 years, consistent with our planned and historical usage of the equipment subject to operating leases.

5. Property and Equipment, Net

Property and equipment, net consisted of the following (in thousands):


	December 31,
	2020		2019
Computers and telecom equipment	$	217	$	217
Lab equipment		487		487
Software		59		59
Furniture and fixtures		37		37
Leasehold improvements		95		95
Leased equipment		10,948		4,252
		11,843		5,147
Less: Accumulated depreciation and amortization		(2,527)		(1,461)
	$	9,316	$	3,686

Depreciation and amortization expense related to property and equipment was $1.1 million and $0.5 million for the years ended December 31, 2020 and 2019, respectively.

Leased equipment and the related accumulated depreciation were as follows:


	December 31,
	2020		2019
Leased equipment	$	10,948	$	4,252
Accumulated depreciation		(1,649)		(616)
Leased equipment, net	$	9,299	$	3,636

Depreciation related to leased units was $0.9 million in 2020 and $0.3 million in 2019. Depreciable lives are generally 7 years, consistent with our planned and historical usage of the equipment subject to operating leases.