Property and equipment, net at December 31, 2025 and December 31, 2024, consisted of the following (in thousands):

 

 

 

December 31,

 

 

 

2025

 

2024

 

Construction-in-progress

 

$

2,901

 

 

$

 

Machinery and equipment

 

 

6,387

 

 

 

5,949

 

Computer equipment and software

 

 

3,593

 

 

 

3,969

 

Furniture and fixtures

 

 

1,859

 

 

 

2,008

 

Leasehold improvements

 

 

12,189

 

 

 

12,192

 

Consigned equipment

 

 

1,948

 

 

 

1,475

 

Total property and equipment, gross

 

 

28,877

 

 

 

25,593

 

Accumulated depreciation and amortization

 

 

(19,673

)

 

 

(18,439

)

Total property and equipment, net

 

$

9,204

 

 

$

7,154

 

 

 

 

 

 

 

 

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Historical Timeline

Fiscal YearFiled
2025Mar 2, 2026Showing above
2024Feb 26, 2025
2023Mar 5, 2024
2020Feb 25, 2021
2017Mar 8, 2018

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.