Depreciation is calculated using the straight-line method over the estimated useful lives of the assets, which range from three to ten years.
Estimated useful life (years)
Furniture and fixtures
5 - 10 years
Machinery and equipment
5 - 10 years
Computer equipment and capitalized software
3 - 5 years
Buildings and leasehold improvementsShorter of the lease term or the estimated life of the assets
Property and equipment, net is comprised of the following:
December 31,
20252024
Furniture and fixtures
$9,099 $5,608 
Machinery and equipment
3,920 4,686 
Computer equipment and capitalized software
7,482 7,444 
Leasehold improvements
40,776 31,230 
Total property and equipment
61,277 48,968 
Less: accumulated depreciation
(21,962)(17,706)
Total property and equipment, net
$39,315 $31,262 
Depreciation expense consisted of the following:
Year Ended December 31,
202520242023
Selling expenses
$7,121$5,478$5,264
General and administrative expenses
1,2111,0722,341
Total depreciation expense
$8,332$6,550$7,605

Historical Timeline

Fiscal YearFiled
2025Mar 5, 2026Showing above
2024Mar 6, 2025

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.