Property and equipment consisted of the following as of March 31, 2025 and 2024:
March 31,
20252024
Computer equipment, software, and domain names$4,067 $6,614 
Warehouse machinery and equipment18,613 14,988 
Furniture and fixtures2,415 2,433 
Leasehold improvements19,782 21,834 
Construction in process153 766 
Total property and equipment45,030 46,635 
Less: accumulated depreciation(23,555)(21,095)
Property and equipment—net
$21,475 $25,540 

Historical Timeline

Fiscal YearFiled
2025Jun 4, 2025Showing above
2024Jun 3, 2024
2023Jun 1, 2023
2022May 31, 2022

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.