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

Property and Equipment, Net

v3.21.2
Property and Equipment, Net
6 Months Ended 12 Months Ended
Jun. 30, 2021
Dec. 31, 2020
Evolv Technologies Holdings, Inc.    
Property and Equipment, Net

6. Property and Equipment, Net

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

    

June 30, 

    

December 31, 

2021

2020

Computers and telecom equipment

$

217

$

217

Lab equipment

 

494

 

487

Software

 

59

 

59

Furniture and fixtures

 

37

 

37

Leasehold improvements

 

553

 

95

Leased equipment

 

19,821

 

10,948

 

21,181

 

11,843

Less: Accumulated depreciation and amortization

 

(3,629)

 

(2,527)

$

17,552

$

9,316

Depreciation and amortization expense related to property and equipment was $0.6 million and $0.3 million for the three months ended June 30, 2021 and 2020, and $1.1 million and $0.4 million for the six months ended June 30, 2021, and 2020,respectively.

Leased equipment and the related accumulated depreciation were as follows:

    

June 30, 

    

December 31, 

2021

2020

Leased equipment

$

19,821

$

10,948

Accumulated depreciation

 

(2,724)

 

(1,649)

Leased equipment, net

$

17,097

$

9,299

Depreciation related to leased units was $0.6 million and $0.3 million during the three months ended June 30, 2021 and 2020 , respectively. Depreciation expense related to leased units was $1.0 million and $0.4 million during the six months ended June 30, 2021 and 2020, respectively. 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.