Property and equipment consists of the following:

 

  

Estimated

Useful Life

  As of December 31, 
   (in years)  2025   2024 
      (in thousands) 
Cost:             
Computer hardware and software  3 - 5  $721   $724 
Equipment  7   141    133 
Leasehold improvements  Term of lease   360    356 
Intangible asset  Patent term   22    21 
       1,244    1,234 
Accumulated depreciation and amortization             
Computer hardware and software      363    257 
Equipment      126    122 
Leasehold improvements      354    350 
Intangible asset      *    * 
       844    729 
Property and equipment, net     $400   $505 

 

* less than $1,000

Historical Timeline

Fiscal YearFiled
2025Mar 5, 2026Showing above
2024Mar 6, 2025
2023Mar 7, 2024
2022Mar 16, 2023
2021Mar 31, 2022
2020Mar 16, 2021
2019Mar 25, 2020
2018Mar 27, 2019
2017Mar 26, 2018
2016Mar 29, 2017
2015Mar 30, 2016

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.