Property and equipment are stated at cost less accumulated depreciation and impairment and consist of the following at December 31, 2025 and 2024:

 

   2025   2024 
   December 31, 
   2025   2024 
Machinery and equipment  $1,089,428   $1,046,534 
Furniture and fixture   664,398    636,939 
Total cost   1,753,826    1,683,473 
Less: Accumulated depreciation and impairment   (1,410,545)   (1,123,828)
Property and equipment, net  $343,281   $559,645 
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Historical Timeline

Fiscal YearFiled
2025Mar 30, 2026Showing above
2024Mar 7, 2025
2023Mar 8, 2024
2022Apr 3, 2023
2021Mar 21, 2022
2020Mar 30, 2021
2019Mar 30, 2020
2018Apr 16, 2019
2016Apr 17, 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.